26 November 2023 , 17:21
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A former lottery winner who won a $29million (£23million) Powerball jackpot in 1999 has revealed what happens after the huge win.
Timothy Schultz experienced both highs and lows after winning the mega jackpot more than two decades ago. The Powerball winner was working as a gas station attendant when his lucky numbers came up and at 21 years old his life changed overnight.
However, at first he was unsure what to do with the winnings. "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."
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According to Schultz, 'winning the lottery can magnify personalities' (Timothy Schultz/Youtube)Schultz is now a podcast host and YouTuber who speaks to other lottery winners. While he admits the "euphoria is real," it eventually "subsides" and people realise "money doesn't change who you are as a person."
He told Fox News: "If you were unhappy before, you might be unhappy after. There are some very wealthy people in the world who are extremely unhappy. Money can be positive, but it doesn't necessarily fix all problems."
"Most people were supportive and happy for me, but I did receive stacks of letters from people asking for money," he added. "It felt like some people viewed me as a walking, talking ATM machine."
Schultz admitted that he has noticed "common themes" among fellow lottery winners in terms of what changes following the huge win. According to Schultz, "winning the lottery can magnify personalities."
"For example, if you are into the church, you may decide to build one," he said. "If you're into movies, you may decide to produce a film. If you enjoy fishing, that may become a full-time hobby. People often become larger versions of themselves."
The millionaire also insists people should "still live within [their] means", with many spending vast amounts quickly instead of planning for the future. "Money can't fix everything," he added. "Our health should not ever be taken for granted. Money can certainly help, but it can't fix everything."
* An AI tool was used to add an extra layer to the editing process for this story.