Let Everything That Has Breath Praise The LORD. Praise GOD
The blessing of the LORD makes one rich, and HE adds no sorrow with it- Prov.10;22
Everything in life requires the wisdom of GOD for optimal performance.
Quite simple, some people don’t know how to handle money, and having a lot of money can be a recipe for disaster. While their money management blues could be because of ineptitude or poor financial foundation, the common denominator is that these wealthy people would have been better off with less. Here are some people who should never have become rich
Elke Batista’s Fall from Grace
At the beginning of 2012, Elke Batista was the seventh wealthiest person in the world. Unfortunately, he didn’t last long in the world’s top ten. By the summer of 2013, his wealth stood at $200 million and, a year later, had fallen to minus $1 billion.
There were various reasons for this dramatic drop, but not all of them were Batista’s fault.
A general downturn in the precious metals industry, underperforming assets, and poor decisions played a part. But the biggest fall from grace may be that Batista is facing 30 years in jail for bribing the governor of Rio de Janeiro.
So why should Batista never have become rich? The answer is simple. A capitalist economy relies on the operation of free markets that depend on trust. Someone who builds a business empire built on sand warps the economy, destroys confidence, and wipes out the investments that pay people’s pensions.
David Lee- Edwards; Sky High to Rock Bottom
We can’t know what would have happened if Edwards had won just enough money to turn his life around, but he won a lot. David Lee Edwards was a connected armed robber who had spent one-third of his 46 years in prison. Broke and unemployed, he borrowed some cash from a friend to pay a utility bill. Unfortunately, Edwards had some change left over that he spent on a pizza and a couple of lottery tickets. He won $27 million. At a press conference, Edwards swore that he would turn his life around and look after his daughter. Yet, he immediately began spending money left and right. His mansion in Florida was full of expensive gadgets, and his body was full of expensive drugs. Edwards supported his and wife’s increasing dependence on drugs. He also paid for his friend’s drugs and funerals if they overdosed. Edwards did spoil his daughter, but by 2006, he and his wife were living in a storage unit surrounded by drug paraphernalia and their own body waste. Mrs. Edwards left him; he died penniless in a hospice in Kentucky. He was 58.
Viv ‘Spend Spend Spend’ Nicholson
Wikipedia promptly identifies Vivian “Viv” Nicholson as ‘a British woman who became famous when she told the media that she would “spend, spend, spend” after her husband Keith won £152,319 on the football pools in 1961.’
Before online gambling, many people in Britain would wager small amounts on the results of soccer matches through a system called “football pools.” These listed the games to be played on the following Saturday, and you could win a lot of money if you could forecast eight score draws. Viv Nicholson had grown up in poverty. She was pregnant at sixteen and had four children when her second husband, Keith, won the pools in 1961. The prize was over £152,000—over 3 million today. When asked what they would do with their winnings, the couple famously answered, “Spend, spend, spend.” And they did.They spent everything. Keith died in a car accident in 1965, and creditors declared Viv bankrupt. She later said that she had had no idea what to do with so much money and that her win had alienated her from her friends, family, and background.
Lottery Winner Hangs Self 7 Years After
Gerald Muswagon was not a well-educated man but was friendly and well-liked by his family and friends. Yet, he had brushes with the law in his native Canada since 1981.In 1998, he bought a two-dollar lottery ticket that won him $10 million. He spent a lot of it on luxuries and gifts but did try to invest in his own lumber business. Unfortunately, his business lost money because of low sales. Muswagon was surrounded by hangers-on who were only interested in his money and never got the guidance that he needed about how to handle such a large sum. He continued to have problems with the police, and things got worse when his wife died suddenly in 2002. Muswagon hanged himself in his parent’s garage.
Elvis: The King
Elvis Presley made a lot of money during his stellar career. However, he had no idea how to handle it. He spent a fortune on a luxurious lifestyle and treating his friends. For example, he would pay to have hotel rooms redecorated to look like a room in his mansion, Graceland-, he didn’t want to get homesick.At the time of his death in 1977, Presley was almost broke. And his money had never made him happy. His ex-wife, Priscilla, eventually took charge of Elvis’s estate after his death because Lisa Marie, their daughter, was still a minor. If Elvis had no head for business, Priscilla did. She converted what little was left into a $100 million business.
https://listverse.com/2022/06/18/10-people-who-couldnt-handle-becoming-rich/
