Michael Carroll worked as a garbage man when, at the tender age of 19, he won £9.7 million on the National Lottery in November 2002. At the time, that represented about US$15.4 million.
He enjoyed a celebrity status in the British media and was known for his lavish lifestyle. He proclaimed himself as the King of Chavs and even put that phrase on his black Mercedes van.
He immediately bought four houses, a holiday villa in Spain, two convertible BMWs, two Mercedes Benz cars and several quad bikes. He also participated in a celebrity boxing match and even was the subject of a documentary about his life.
He spent ‘untold thousands’ on drugs and prostitutes. He was also reckless with his possessions. For example, a mansion he bought for £340,000 and spent £400,000 extra on was sold for only £142,000 because of the damage he’d made to it.
In 2010 it was revealed that he had gone back on Jobseeker’s allowance and was making £42 a week. Let it be a cautionary tale that too much money too fast can be a lot to take for someone who’s not ready for it.