Teenage Millionaires: The Youngest Lottery Winners

By Vanessa B

Maybe you have seen the list of lottery winners or read a Lotto247 online review recently and have been thinking that you might want to try beating the odds yourself. Nonetheless, it is not a straightforward task. Many people around the world have played the lottery for years on end with no success.

On the other hand, a few lottery winners managed to break the bank at a young age and some of them even did it on their first try! You might be asking yourself “how did they do that?”. If you wish to learn the answer to this question, feel free to read on. Below we’ll go over some of the youngest lottery winners in history.

Richard Lustig – at the age of 14, in 1987

This young man purchased a lottery ticket for the New Jersey Lottery and won the jackpot worth $5,000,000. He was just 14 years old at the time. This might not seem like a lot of money, but it is more than enough to make someone’s dream come true.

Richard used his winnings to purchase a large house in Florida. Sadly, his father died before he could receive his share of the money and was not able to celebrate. After a while Richard bought a second house for his mother and his siblings.

David Edwards – at the age of 14, in 1988

This young man won the Illinois State Lottery on his first try. In fact, he won the first prize of $20,000 by purchasing a single ticket. How great is that? Later on, he became a professional poker player and successfully retired at the age of 32. It seems that he knows how to handle his money!

Michael Carrol – at the age of 17, in 2001

This lottery winner became one of the youngest winners in history when he won $14 million. After his first win, his wish was to live like a millionaire. He hired a personal assistant who helped him purchase an expensive car and four houses in California.

In the end, he decided to give up some of his money to his ex-girlfriend and her baby. He also gave $1 million to his sister and her husband. He tried to convince his mother to move into a house in Florida, but she refused.

Kyle Davies – at the age of 19, in 2005

This young man won $25 million after purchasing just one lottery ticket in West Virginia. He received his winnings at the age of 19. However, it didn’t take him long before he started spending his money on extravagant things such as sports cars and luxury watches.

After two years, half of his winnings were gone. What’s worse, he got into trouble with the law for driving under influence. He spent some time in prison for this reason. After he was released on parole he then got a job as a delivery driver.

Andrew Jackson Whittaker Jr. – at the age of 19, in 2002

This young man is currently enjoying life in Las Vegas on his $314 million lottery winnings. He purchased only one ticket back in 2002 from the South Carolina Education Lottery. At the time, he was attending college and working part-time at the Waffle House restaurant to make ends meet. After winning the lottery, he retired from both jobs!

He bought two houses, four cars and gave away money to family members who needed it most. He also took his family on vacations to Hawaii and Puerto Rico; all expenses paid! In addition to that, he donated part of his winnings to charity and purchased an amusement park for children with cancer and other serious illnesses. According to him, helping others is the best thing you can do with your money!

Jeffrey Dampier – at the age of 20, in 1996

This young man won a whopping $20 million. After winning the lottery, he bought a gold chain with a Jesus pendant for his wife and a watch for himself. He also bought other valuable items such as jewelry and clothes from Versace and Louis Vuitton. He ended up spending half of his winnings in 2 years. He did bounce back and still managed to make smart investments! He used to live in a nice house in Chicago and drive a sports car! He worked as a cashier before winning the lottery, so you have to be patient if you wish to be rich! Unfortunately, Jeffrey Dampier met a tragic end in 2005, but it goes without saying that he has plenty of luck when it comes to winning the lottery.

Michael Bumblis – at the age of 20, in 1993

This young man won $11 million when he was just 20 years old. The same year, he purchased a BMW for himself and two Harley Davidson motorcycles for his parents as gifts! That said, it didn’t take him long before he ran out of money. Nevertheless, he continued to work hard and eventually became a successful businessman with a net worth of $45 million!

So would you wish to win the lottery at such a young age? I think I would much rather win it later on in life. Although, that doesn’t really mean that some winners have used their lottery wins wisely. If you just take these young winners above into account, it’s easy to see that it’s not only about winning but knowing how to invest your money wisely. What would you do first with such a big win? Buy a house or maybe a car? Would you invest in the stock market? Would you run off to a tropical island somewhere, never to return? Needless to say, the options for spending money are endless. Winning the lottery seems like a dream for most people, but it does come with a certain burden as well. It’s important to remember that money does run out if you don’t plan how to spend it wisely.