A man who won a $220.3 million Powerball lottery jackpot — the second-largest single-ticket Powerball winning — plans to invest the money and become a billionaire.
Brad Duke, a 33-year-old regional fitness director for a health club chain, said he hopes to build a $1 billion portfolio within 15 years.
“What better opportunity to have than me at my age with this money to build a billion-dollar empire to take care of my family and to give opportunities to the people who have given me opportunities,” he told The Associated Press on Wednesday.
Duke chose to take a one-time payment of $125.3 million, rather than 30 annual installments of $7.4 million. He would receive about $85 million after taxes.
Idaho Lottery Commission officials denied Duke’s request to remain anonymous, arguing that his name had to be made public to show he had no ties to lottery employees or vendors. He won the jackpot over Memorial Day weekend.
“It would have been nice for me to take care of my family without making it a big thing in their lives, but we all came to the realization that would be impossible, so if that’s the way it’s going to be let’s have fun with it,” he said before traveling to New York City for talk show appearances.
No large purchases
Duke said he told his father and sister about the jackpot but the rest of his family was unaware until Sunday, when he asked them to meet him in Sun Valley. He said they had assumed he was going to reveal a terminal illness, multilevel marketing scheme or a wedding engagement.
Duke has assembled legal, financial and public relations advisers to make business investments and charity donations and is considering appearances on a reality television program.
Other than a high-end racing bicycle, Duke has no plans for any large purchases.
“One of my goals is keeping my feet on the ground, not forgetting who I am and where I came from and staying active in the things I like now, like biking, the fitness industry, camping and rafting with my friends,” he said. “Keeping my feet on the ground does not include going out and buying a yacht.”
Powerball is a Des Moines, Iowa-based lottery played in 27 states, the District of Columbia and the Virgin Islands. Duke bought the winning ticket at a Boise convenience store.