Lottery Winner Goes Through $10 Million in Less Than 10 Years

Nine years ago, Sharon Tirabassi, a 35-year old resident of Hamilton, Ontario, won $10,569,000.10 in the Canadian Lottery. Today, after spending most of that money, she is back riding the bus, working part-time, and living in a rented house.  After buying a big house, fancy cars, designer clothes, exotic trips, sharing money with friends and family and spending it on exotic trips, the remainder of the windfall is in a trust for her six children.

At the time she won the lottery, Tirabassi was a single mother just employed as a personal care provider.  When Tirabassi had dwindled the winnings down to $750,000, she decided to return to real life. Tirabassi and her husband were used to not having money growing up, and her husband mentioned that the money actually caused a lot of headaches. 

The Huffington Post contrasts Tirabassi’s story with Sandra Hayes’s story.  Sandra won $6 million in 2006 when she split Powerball winnings amongst her coworkers.  She did go on an initial spending spree, but she also paid off her student loans, her mortgage, and was careful about loaning money to other people.  Now Sandra lives comfortably. 

See Earnon Murphy, How One Lottery Winner Blew Through $10 Million in Less Than 10 Years, Huffpost Living Canada, Mar. 25, 2013.