Money Managers Donate Lotto Winnings

Three Connecticut wealth managers who won a $254 million jackpot followed through on their promise to put the money toward philanthropy, today announcing donations to five charities that assist veterans. The first recipients will each receive $200,000. They are: The Bob Woodruff Foundation, Building Homes for Heroes, Services for the Under Served, Operation First Response and the Intrepid Fallen Heroes Fund…

“We are leveraging our professional experience and our collective success in money management to ensure these lottery dollars go far further than their face value,” the three winners, who formed the Putnam Avenue Family Trust, said in a statement…

Thomas Gladstone, a friend of one of the men and the landlord of their office space, told ABC News last week that a client had come to Belpoint Capital with the winning ticket and asked for their help…”These are smart guys. They want to turn the $100 million into … $400 million. The plan was to keep all this private. Youve seen people pry into other peoples lives. They want to protect their client,” Gladstone said.Gary Lewi, spokesman for the Putnam Avenue Family Trust, [said that] “The three trustees consider this the first stop on what we see as a journey of philanthropy in the months and years to come.”

via Money Managers Make Good on Promise of Philanthropy – Yahoo! News.

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