From a newspaper article today:
When Lou Eisenberg struck it rich in 1981, winning $5 million in what was then the largest lottery payout ever, people started asking him for advice about money.
“All of a sudden, people were asking, ‘Lou, what about this?’ ‘What about that?’ ” Eisenberg, now 81, recalled.
It turns out he was the one who needed the answers.
Nearly 30 years after picking winning numbers, all that’s left are memories of his lucky day and the whirlwind life of TV appearances, cheering fans, travel and luxury.
The former multimillionaire now lives in a mobile home in Lake Worth, Fla., on $250 a week from his Social Security and pension checks.
you left out some details that explain how he spent his money:
With installments of $219,000 a year, $130,000 after taxes, paid out over 20 years, he was able to quit his job and buy a $130,000 condo with an ocean view and a terrace in Brighton Beach.
As his fame grew, so did his spending. There were days at the track, trips to Europe and Hawaii, and dinners where the newly minted millionaire always picked up the check. “Whoever needed something, I gave cash. I wanted to be nice to people,” he said.
He said he gave a big chunk of his winnings to his second ex-wife. He married a third time, but that didn’t last either.
By 2001, after he cashed the last lottery check, he was broke.
Eisenberg now spends time at a dog track in West Palm Beach, Fla., and still bets “a penny” here and there.