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23 Year Old Rancher Wins $232M

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c farmer

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Seems like they actually needed the money, alot of the people that win money dont need it or old and wont live to spend it all.
 

MO_cows

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Thank you for posting that!! I have been wondering who won it, and hoping that it was someone who needed it and deserved it. Sounds like they intend to "pay it forward", and a lot of good is gonna come from it.

Can you just imagine all the gossip and speculation that was going on in that little town of Winner, SD, until he came forward?? Anybody who bought an extra loaf of bread was probably suspect. lol
 

1982vett

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Ain't that great. That's one thing about the lottery. Ya got to be in it to win it.
 

kerley

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I think it is great that someone like a struggling ranch family won. On the other hand I think it stinks that the taxes took most of the prize. It just seems wrong. It took earned taxed money to buy the lottery tickets. Every one that bought a ticket already paid the taxes.
Tom.
 

MO_cows

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It doesn't seem right that they can advertise 232 million jackpot, but the fine print says you have to take payments over 30 years to get that amount. And if you die before it's paid out, your heirs are SOL. If you take the lump cash payout, you get much less and the lottery gets to keep the rest of the money. If a private business did that, they would probably get prosecuted. If you hit the progressive slot jackpot at the casino, they have to pay you the full advertised amount, don't they??

But still, 88 mil free and clear after taxes is an amazing sum.
 

MO_cows

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It doesn't seem right that they can advertise 232 million jackpot, but the fine print says you have to take payments over 30 years to get that amount. And if you die before it's paid out, your heirs are SOL. If you take the lump cash payout, you get much less and the lottery gets to keep the rest of the money. If a private business did that, they would probably get prosecuted. If you hit the progressive slot jackpot at the casino, they have to pay you the full advertised amount, don't they??

But still, 88 mil free and clear after taxes is an amazing sum.
 

chrisy

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That's terrible he has to pay Tax on his winnings that is not how it works here, if the jackpot was £232m that is what you get, as there is no tax on prize money. If you give it away to some one then they have to pay Tax, if it brings them over the threshold of earnings. but Good luck to him and glad he is young enough to be able to enjoy it. Lets hope he gets support in how to use it wisely.
 

Jogeephus

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A friend of mine won $21 million and cashed out. He walked away with $6.5 million in his pocket and he seems to have fallen off the face of the earth.
 

grannysoo

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Jogeephus":n9xo0nt1 said:
A friend of mine won $21 million and cashed out. He walked away with $6.5 million in his pocket and he seems to have fallen off the face of the earth.

He's probably in hiding from all of those friends that want to borrow money or have him invest with them...
 

peg4x4

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probilly gonna keep on ranching 'til the moneys all gone. :clap: Hope he enjoys every day and every cent..
 

mnmtranching

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That's the whole idea of state sponsored lotteries. To raise revenue.
Happy to say I've never bought a lottery ticket of anykind. Total waste of money. All you will ever hear about are those that win. YOU WILL NEVER WIN!
Anyway the guy seys he is going to buy a bigger ranch. Interesting? why doesn't he just blow it. :cowboy:
Probably why their ranching operation is in [was] financial difficulty. They obviously gamble and throw away money foolishly. :tiphat:
 

1982vett

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mnmtranching":mx0udo89 said:
Anyway the guy seys he is going to buy a bigger ranch. Interesting? why doesn't he just blow it. :cowboy:
Probably why their ranching operation is in [was] financial difficulty. They obviously gamble and throw away money foolishly. :tiphat:

Don't be so rough. 320 acres doesn't provide much profit to support a family of three unless you are growing pump jacks. Even then it might not be enough. Probably need more like 3200 acres. :)
 

Beefy

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am i the only one who noticed that his neighbors name is Mr. Assman?
 

Stocker Steve

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Beefy":1n60ppwt said:
am i the only one who noticed that his neighbors name is Mr. Assman?

I have spent quit a bit of time hunting in this area. I have seen Assman signs on mailboxes, but never had enough nerve to knock on the door and ask permission.
 

cfpinz

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Beefy":l6lp20y0 said:
am i the only one who noticed that his neighbors name is Mr. Assman?

That's the first thing I saw, had to call the wife in to read that one.

Suppose his initials are R.U. or I.B. or...

If he would have elected to take the 30 year payout, I wonder what the total amount would have been after taxes? Just seems like an awful lot of loss to take the one time payout.
 

Australian

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Here in Australia its the same as in Britain. What you win is what you get. Just the other day a struggling Uni student had forgot that she had an Oz Lotto ticket given to her in July last year. She went to the agency and had thought that she had won $13,000 but it was 13 million instead. I'd say she'll be ok now. I think the winnings are too big. I'd rather see 13 people win one million than one person win the whole lot.
Colin
 

Beefy

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Australian":3lq6xhuy said:
I think the winnings are too big. I'd rather see 13 people win one million than one person win the whole lot.

thats a great idea!
 

iowahawkeyes

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cfpinz":10wdil7f said:
Beefy":10wdil7f said:
am i the only one who noticed that his neighbors name is Mr. Assman?

That's the first thing I saw, had to call the wife in to read that one.

Suppose his initials are R.U. or I.B. or...

If he would have elected to take the 30 year payout, I wonder what the total amount would have been after taxes? Just seems like an awful lot of loss to take the one time payout.


I read the article and saw the quote from Dave. I know him a little, more his sister. It is pronounced "Ozmon" more than a$$ man. :)
Winner is really close to the reservation and Mission, SD, that's were Assman Implement is. Can be a rough area on a Friday night.
 

hillsdown

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As soon as I saw the name @ssman I immediately thought of that episode of Seinfeld and Kramer's license plate.. :lol2: :p
 

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