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Good News for 1%: Money Managers Win $254 Powerball Jackpot

Depressing news out of Connecticut, where three already-wealthy money managers are winners of the largest lottery jackpot in state history.

Tim Davidson, Gregg Skidmore and Brandon Lacoff won the $254 million Powerball jackpot on a single $1 ticket. The trio work for a boutique money management firm in Greenwich, one of the richest towns in the entire nation.

They chose a lump sum payment -- $104 million after taxes. The men said a "sizeable" portion of the money will go to charity.

"Obviously, everybody is extremely excited. These numbers are huge. This is going to benefit many people," said their attorney Jason Kurland, who did almost all of the talking at a news conference on Monday.

Skidmore briefly stepped to the microphone only to say "It feels good."


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