The American Lottery has reached a record breaking $1.4 billion.
On Wednesday a lucky winner could become staggeringly rich in a matter of moments. Billionaire Mark Cuban who has a personnel net worth of $3 billion has some good advice for whoever may win the lottery jackpot on Wednesday night.
Cuban recounted the moment he became a billionaire on an episode of James Altucher’s podcast: “I was sitting in front of a computer, naked, hitting the refresh because we were close — waiting until my net worth hit that billion when the stock price got to a certain point, and then I kinda screamed and jumped around and then got dressed.”
So what is Marks advice to a newly mega rich billionaire?
“If you weren’t happy yesterday you won’t be happy tomorrow. It’s money. It’s not happiness,” Cuban told the newspaper. “If you were happy yesterday, you are going to be a lot happier tomorrow. It’s money. Life gets easier when you don’t have to worry about the bills.”
He also recommends the winner to hire a tax attorney immediately and refrain from taking the lump sum all at once in order to avoid quickly spending it all.
“You don’t become a smart investor when you win the lottery. Don’t make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won’t lose money,” Cuban said.
When it comes to those awkward family and friends requests for money he advises:
“Tell all your friends and relatives no. They will ask. Tell them no,” Cuban emphasized. “If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs 1m dollars for anything. No one needs 100k for anything. Anyone who asks is not your friend.”
He also shared one last bonus tip with Business Insider: “Be nice. No one likes a mean billionaire. :)”