In 2002, an American businessman won the lottery, claiming a massive sum of over 10 million dollars, marking the largest individual win in lottery history. Despite already being a millionaire as the CEO of a construction company, he chose to use his winnings for charitable donations and rehiring workers who had been laid off during the economic recession. While many lottery winners face bankruptcy, he appeared to manage his fortune responsibly, diligently maintaining his work.
However, he, too, was human. Following his lottery win, he became entangled in over 400 lawsuits related to incidents like drunk driving, assault, and attempted theft of his money. Additionally, he experienced divorce and tragically lost his granddaughter to drug addiction. Despite once being hailed as “the luckiest man in the world,” he appeared worn down on television, expressing regret over not tearing up the lottery ticket at the time of his win.
This story highlights the contrasting ways in which we handle money earned through hard work versus easy gains, illustrating what is known as the “House Money Effect.” This term originates from gambling contexts, emphasizing how we often undervalue things obtained without effort. True happiness, it seems, may be found in the sweat and toil required to earn something truly valuable.