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Friday
Feb212014

What Are They Doing Now? Brad Duke, $220 Million Powerball Winner

Brad Duke during his first tv interview after winning in 2005. Story

In one of the most unusual wishlists in lottery history, Brad Duke wanted to turn his $86 million Powerball jackpot win back in 2005 into $1 billion. And he wanted to do that within three years.

How did he fare... did he make his target? And what is he doing now? He did another tv interview with Katie Couric in July 2013, and told her what he had been up to since the win.

In the interview however, he didn't give anything away about his lottery system. All he would say is that it was similar (to the Silver Lotto System) in that you pick a series of numbers and go for the small games.

"I was always after the small prizes, the $500 and $1000 ones," he said.

Brad Duke on the 'Katie' show talking about life after the lottery.

What he did achieve was a surprise to himself and many others. The total annuity prize from Powerball was $220 million, and he received $126 million of that in a check.

After $40 million in personal taxes were deducted, he received $86 million.

Brad Duke in 2005 with his announcement check. After taxes it became considerably less.

One of the first things Brad said to his father after the win was, "I bet you never thought we would both retire on the same day." But Brad didn't retire... he kept working at Golds Gym for the next two and a half years.

He started several ventures with a staff of about 20 - a personal assistant, accountants, a publicist, sales people and consultants. Brad left a large portion of his win in conservative investments, and went on to manage mountain bike races and promotion.

Later he moved to more of a sponsor relationship with cycling.

Brad talks about his involvement with sports cycling.

In the meantime, he spent very little of his own money, but plenty to charity. His publicist, Edward Moore, said he had spent less than $1 million since the win but had given away or than $2 million to friends, family and charity through the Duke family foundation.

Charitable giving is the major part of Brad's life now.

Today Brad works with authenticated charitable organisations in the state of Idaho. His goal has always been the same... to build his capital to $1 billion in order to help others.

Brad continues his investments, and gives this advice to lottery winners. "You really have to define what is important to you and develop a plan around it. Get people to help you do what you're not so good at doing."

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