A lottery winner who struck gold with a $A42 million Powerball jackpot almost had the fortune ripped from his grasp when a co-worker tried to claim a share.
Timothy Schultz was working as a petrol station clerk in Iowa when his lucky numbers came up in 1999.
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At 21 years old, he was just over the legal age to purchase a lotto ticket in the US and had sold himself the $1 Powerball ticket while working with his colleague, Sarah Elder, 20.
The college student’s $US29m jackpot win was put at risk when Elder stepped forward and said she was owed a share for contributing 50c towards the ticket, The Ledger reports.
Elder’s claim put the prize in jeopardy as she was not legally of age to buy a ticket in Iowa.
Lottery officials were unsure whether Elder’s contribution was a “purchase by an underage person, a gift or a loan”, according to court documents seen by The Ledger.
“If part of the sale were to an underage person, all or a portion of the prize would be forfeited,” Lottery commissioner Ed Stanek said at the time.
Luckily for Schultz, Elder ended up withdrawing her claim before the scheduled court hearing and the pair resolved the issue.
Biggest lotto mistake
Schultz now dedicates his days to sharing stories of lottery winners and dishing out the best advice on winning big.
He said one of the biggest mistakes lottery winners make is not seeking financial help from professionals.
“The average lottery winner that comes across millions of dollars ... the average person does not know what to do with that kind of money unless you have an education or a background or experience dealing with that kind of money,” he told CNN.
“I had no idea. I was a gas station clerk at 21 years old when I won.”
Schultz, who runs a YouTube channel speaking with other lottery winners about their tips and advice, said the question of whether money can buy happiness sparked interesting conversations.
“The general consensus is that money can buy time and time is sort of invaluable, if you have the stress of debt and you’re doing something you don’t want to be doing ... which can in a sense buy happiness,” he said.
But money does not necessarily fix all problems, he added.
“If you are a very unhappy person before you win the lottery and you come across mass amounts of wealth, after the high of winning wears off — because it will come down — then you still could be unhappy,” Schultz said.
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