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Man won $12.4 million lotto forced to work full-time job due to his spending spree

Tuesday, 28/05/2024, 08:23 (GMT+7)

The man blew a massive fortune of $12.4 million in a short time due to his laziness and now has to work a full-time job.

Michael Carroll, a lottery winner who once enjoyed a life of luxury and excess after winning a $12.4 million lotto, has now been forced to work a full-time job.

Known as the "Lotto lout," Carroll's story shows how quickly fortunes can be squandered if one has no financial management guide.

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Lottery winner Michael Carroll now works full-time after winning $12.4 million. Image Credit: Colin McPherson

Carroll won a massive jackpot at a young age.

At the age of 19, Carroll hit the jackpot in 2002, leaving his job as a binman behind. He engaged in a lavish lifestyle, purchasing fast cars, luxury houses, and many other extravagant items.

However, his financial downfall began when he ran out of money in 2010.

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At 19, Carroll won the lottery, quit his job, and lived lavishly with fast cars, luxury houses, and extravagant purchases. Image Credit: Colin McPherson

Despite his financial difficulties, Carroll expressed no regrets about his spending spree. 

He considered the years of living as a rich man to be the best of his life, stating that he wouldn't change a thing.

Reflecting on his time as a millionaire, Carroll remarked, "It was 10 years of fun for a dollar, you can't go wrong with that."

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Carroll has no regrets about his spending spree, considering his rich years the best of his life. Image Credit: Colin McPherson

Carrol gave away half of his winnings to his family members.

In addition to his personal spending, Carroll also gave away a significant portion of his winnings, sharing around $5.1 million with family members, including his ex-wife and her family.

However, as the years went by, Carroll's mansions fell into disrepair and were eventually sold. He faced restrictions, being barred from many local pubs near his residence.

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Carroll shared about $5.1 million of his winnings with family members, including his ex-wife and her family. Image Credit: Colin McPherson

By 2019, Carroll had returned to his native Scotland, living in a rented house worth $637. 

He admitted to occasionally playing the lottery again, jokingly stating that if he were to win, he would be up early every morning to avoid trouble.

Carroll is feeling happy with his ordinary life after blowing $12.4 million due to his spending spree.

Despite his financial setbacks, Carroll expressed his relief in his new life. He resumed working full-time, taking on a regular job as a coalman. 

He expressed that he felt happier and had regained control over his life.

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Despite setbacks, Carroll finds relief in new life, working full-time as a coalman. Image Credit: Colin McPherson

Previously, a lottery winner who won $10 million has issued a warning to others, advising them not to trust anybody after losing their entire fortune.

Sharon Tirabassi, who won the jackpot in 2004, shared her story in an interview, emphasizing the importance of being cautious with newfound wealth.

Sharon's life changed completely when she won $10 million. 

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$10 million lottery winner warns others: "Don't trust anybody" after losing entire fortune. Image Credit: Lottery Analyst

She had a difficult life before, but suddenly she became a millionaire. Sadly, she didn't know how to handle her money properly, and that caused her problems.

She indulged in a lavish lifestyle, buying luxurious houses, expensive cars, and throwing extravagant parties. She generously lent money to loved ones and even helped her neighbors with their rent.

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She lived luxuriously, buying lavish houses, cars, and hosting extravagant parties, even assisting loved ones and neighbors financially. Image Credit: Lottery Analyst

As the years went by, Sharon's money started to run out, and she understood that she had to think again about how she was spending it.

She ended up with only $750,000 left in her bank account, which made her realize that she had to make some changes and take charge of her money. 

Nowadays, Sharon and her husband live in a simple house that they rent, and she works part-time to cover their expenses.

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Sharon and her husband rent a simple house, and she works part-time to cover their expenses. Image Credit: Lottery Analyst

Despite the challenges she has faced, Sharon claims to be happier in her simpler lifestyle. 

She has also made a wise decision by setting up a trust fund for her children's future, safeguarding a significant portion of her remaining money.