A FAIRYTALE WHICH WILL RESONATE WITH MANY IN ZIM

IN a country like Zimbabwe, where there has been an explosion of betting, a story of a person winning a US$1.5 billion lottery jackpot attracts immediate attention.

The odds are always against the punters.

The winner of Tuesday’s mega jackpot in the United States was 250 times more likely to be struck by lightning than grabbing the big prize.

And, amazingly, the winner could still get broke because it has happened before.

Huntington Hatford inherited approximately US$90 million when he was 12 in 1923.

Adjusting for inflation means he was given almost US$1.3 billion as a child, after taxes.

Huntington declared bankruptcy in New York in New York in 1992, approximately 70 years after being handed one of the largest fortunes in the world.

Maybe, these deals put the value of the latest winner into context:

February 8, 2021 – Tesla buys US$1.5b worth of bitcoin

Tesla announced it has bought US$1.5 billion worth of bitcoin.

The company said it bought the bitcoin for “more flexibility to further diversify and maximise returns on our cash.”

April 26, 2017 – LPC-Element’s Exova buy backed by US$1.5 billion financing

UK-based Element Materials Technology’s acquisition of listed British laboratory-based testing firm Exova Group EXO.L was backed with a US$1.5 billion-equivalent financing underwritten by four banks.

November 18, 2022 – PTC buys ServiceMax for about US$1.5 billion

PTC said it will buy cloud-based provider of software ServiceMax for US$1.46 billion in cash as it looks to expand its portfolio of product lifecycle management offerings.

July 12, 2022 – KPMG to spend US$1.5 billion on environment

As part of its ongoing multi-billion-dollar investment program, KPMG plans to spend more than US$1.5 billion over the next three years specifically to focus on the Environmental, Social and Governance agenda.

October 25, 2021 – Mexico to pay US$1.5 billion for border security

Mexico has agreed to contribute $1.5 billion to a joint initiative with the U.S. to improve infrastructure along the U.S.-Mexico border, according to a person familiar with the commitment. – H-Metro Reporter/Agencies

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