Iowa Powerball Winner Warns of 'Walking ATM' Curse After $28M Jackpot
An Iowa man who won $28 million playing Powerball in 1999 says the windfall came with an unexpected dark side, as strangers began treating him like a walking ATM machine.
Timothy Schultz, then a 21-year-old gas station worker from Iowa, saw his life change overnight when his 40-cent ticket turned into a multimillion-dollar prize. But the dream quickly soured as he was flooded with requests for money.
What happened after the Powerball win?
Schultz told Fox in 2022 that while most friends and family remained supportive, he received stacks of letters from strangers asking for financial help. Lending money, he said, could quickly complicate even close friendships.
It felt like some people viewed me as a walking, talking ATM machine, Schultz said.
How did the young winner handle sudden wealth?
Despite his new fortune, Schultz made a surprisingly modest first purchase: a Nintendo 64, something he could not afford on his previous wages. He did not buy mansions or fancy cars.
Instead, Schultz became a journalist and launched a YouTube channel called Dreams & Fortune, where he interviews other lottery winners about the real-life challenges of sudden wealth.
What advice does Schultz give to new winners?
Schultz advises anyone who wins big to live within their means. Reflecting on his own experience, he said he would tell his younger self: Buckle up. That dream of winning is about to become reality, and your life is going to change faster than you can possibly imagine.
His comments come as Powerball, the largest rolling lottery in the world, was recently introduced in the UK. The latest draw reached a jackpot of £343 million, with winners able to claim prizes over 30 years.
What can Iowans learn from Schultz's story?
Schultz's experience offers a cautionary tale for Iowans who dream of hitting the jackpot. While winning can bring financial freedom, it can also attract unwanted attention and complicate personal relationships. His story underscores the importance of financial planning and maintaining a grounded perspective, even after a life-changing event.
For Iowans considering playing Powerball, Schultz's advice is simple: be prepared for the changes, both good and bad, that come with sudden wealth.
Photo: Mirror