Here’s Mark Cuban’s advice for whoever wins the $508 million Powerball lottery

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mark cuban wife tiffany

Mark and
Tiffany Cuban.

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Images


The Powerball Mega Millions lottery has reached an estimated

$508 million
.

On Friday, someone could win that money and become rich in a
matter of moments.

What then?

When the Powerball lottery reached a record high of $1.6 billion
in January, Business Insider reached out to billionaire Mark
Cuban to get his best advice for the winner. (Ultimately, it
ended up being winners,
thanks to three winning tickets
.)

While there’s a sizable gap between $508 million and $1.6
billion, the concept is the same: getting rich overnight. 

In January, Cuban shared the advice he gave his local
paper, the
Dallas Morning News
, which is just as applicable to Friday’s
winner:

  • [The first thing you should do is] hire a tax attorney.
  • Don’t take the lump sum. You don’t want to blow it all in one
    spot.
  • If you weren’t happy yesterday, you won’t be happy tomorrow.
    It’s money. It’s not happiness.
  • 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.
  • Tell all your friends and relatives no. They will ask. Tell
    them no. 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
    $1 million for anything. No one needs $100,000 for anything.
    Anyone who asks is not your friend.
  • 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. 

He also shared one last bonus
tip with Business Insider: “Be nice. No one likes a mean
billionaire. :)”

We imagine that goes for
multi-millionaires, as well.

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