The Biggest Lottery Win

A lesson for the world’s wealthiest nation.

Alex and Rhoda Toth were struggling. With six kids and little income, it was hard to get by. Then they hit the jackpot, literally, and won $13 million in the lottery. They did not live happily ever after. They filed for bankruptcy, twice. When Alex Toth died in 2008, they were so poor that their only electricity at home came from a car battery. Rhoda later pleaded guilty to tax evasion.

Perhaps the most surprising part of the Toths’ story is how common it is. About 1 in 3 lottery winners spends the winnings on cars, trips, luxuries, friends and drugs—and goes bankrupt.

Read more at “The Biggest Lottery Win—and Loss—of All Time”