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WINNING the lottery is a pipe dream for many, however, the mountains of cash come with intense responsibility and can strain relationships.
William Bud Post III won the lottery in 1988 and cashed in on a whopping $16.2 million.
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The win was expected to change his life for the better – but what followed was a series of misfortune.
His newfound wealth made him a target for those envious of his win.
“I wish it never happened. It was a total nightmare,” he once recalled.
“I was much happier when I was broke,” Post once said, according to the Washington Post.
His landlady who he shared a romantic relationship turned vengeful when he won the lottery.
Ann Karpick sued Post for a third of his jackpot, claiming they had initially agreed to split the winnings.
The two were embroiled in a legal battle for three years until a judge ruled he owed her a share of the proceeds.
Unfortunately for Post, he already spent most of his winnings and was drowning in debt at the time.
HUMBLE BEGINNINGS
Post’s lottery win was the first time he was faced with excess wealth.
The lottery ticket helped him go from living on disability with only $2.46 in his bank account to a multi-millionaire.
He grew up in an orphanage after his mother died and his father wasn’t able to care for him.
Post was just eight years old when he was sent to the orphanage.
He consistently struggled with money before winning the lottery, having served a month of jail time for passing bad checks.
Post had never owned a home and worked odd jobs to sustain himself.
I was much happier when I was broke,”
William ‘Bud’ Post
THREE MONTHS GONE
Post opted to receive 26 annual payments of $497,953 instead of the lump sum payment.
In just two weeks he spent more than $300,000 of his first payment.
Post used the funds for a liquor license, a lease on a Florida restaurant for his siblings, and a used car lot for another sibling, the Washington Post reported in 2006.
He also purchased a plane even though he didn’t have a pilot’s license, putting him $500,000 in debt.
“Everybody dreams of winning money, but nobody realizes the nightmares that come out of the woodwork, or the problems,” he said in 1993 when reflecting on his financial decisions.
Even after using hundreds of thousands of dollars to help his siblings with their business ventures, they became estranged just a year after Post won the lottery.
He then decided to purchase a mansion in Oil City, Pennsylvania for $395,000.
Top lottery winners in the US
Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history.
- Edwin Castro – $2.04 billion, Powerball, Nov. 8, 2022, in California.
- Theodorus Struyck – $1.765 billion, Powerball, Oct. 11, 2023, in California.
- Unknown winner – $1.602 billion, Mega Millions, Aug. 8, 2023, in Florida.
- Marvin and Mae Acosta from Los Angeles, California, John and Lisa Robinson from Munford, Tennessee, and Maureen Smith and David Kaltschmidt from Melbourne Beach, Florida – $1.586 billion, Powerball, Jan. 13, 2016.
- Unknown winner – $1.537 billion, Mega Millions, Oct. 23, 2018, from South Carolina.
- Unknown winner – he sued the mother of his child to keep his identity hidden – $1.348 billion, Mega Millions, Jan. 13, 2023, from Maine.
- Unknown winner – $1.337 billion, Mega Millions, July 29, 2022, from Illinois.
- Cheng and Duanpen Saephan, and Laiza Liem Chao – $1.326 billion, Powerball, April 7, 2024, from Oregon.
- Yanira Alvarez – $1.08 billion Powerball, July 19, 2023 in California.
- Wolverine FLL Lottery Club – $1.05 billion, Mega Millions, Jan. 22, 2021, from Michigan.
- Unknown winner – $842.4 million Powerball, Jan. 1, 2024, from Michigan.
VIOLENT OUTCOMES
Post’s brother tried to hire an assassin to kill him in hopes of inheriting his earnings.
The plot failed, but Post was still left with legal troubles of his own.
After shooting his sixth wife’s car, Post was hit with a county court order to stay away from her, the Pittsburgh Post-Gazette reported at the time.
Years after he won the lottery, Post was facing legal troubles with his ex-wife, a court order to pay his ex-girlfriend a third of his earnings, an assault conviction for firing a shotgun at a debt collector, and crippling debt.
In 1996, Post sold his mansion for $65,000 and auctioned off his remaining 17 lottery payments as a last-ditch effort to get out of debt.
“Once I’m no longer a lottery winner, people will leave me alone. That’s all I want. Just peace of mind,” he told The Guardian.
Post wasn’t able to keep financially stable for long, spending almost all of his remaining $2.65 million within a year.
He hid out on a boat to avoid serving prison time for firing shots at a debt collector, but his plan was foiled in 1998.
Post was arrested on his boat and served a prison sentence for assault.
After he left prison, he had no remaining funds and was reportedly living on disability checks, according to the Washington Post.
Post died in 2006 from respiratory failure.
