How nearly everyone in a small town became a millionaire overnight - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Nearly everyone in a small, debt-ridden farming village became ultra-wealthy overnight, thanks to the world's biggest lottery

In an instant, Sodeto had become the subject of an unintentional social experiment: What happens when an entire debt-ridden farming community suddenly becomes incredibly wealthy? The press arrived quickly. Salespeople swarmed the town, flooding residents with offers of sports cars, diamonds, and exotic vacations. Bankers hawked various investments. Garbage bins that rarely needed emptying suddenly overflowed with flyers.

In fact, in the months after the win, there was no change at all, he says. But come April, the streets were filled with trucks and construction companies performing renovations on virtually every house in town. But beyond that, it's hard to identify any major change in the sleepy village. Perhaps most remarkable is the fact that nobody has stopped working—as farmers, truck drivers, and housewives.

"Everyone had his or her feet on the ground after the lottery," says Rosa Pons Serena. At 54, Serena has been mayor of Sodeto for 14 years, and she knows the town's short history well.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

This is inspiringly beautiful! Happiness, is where you are at a moment intime, but improvements or slight adjustments. So glad to hear of this, and congratulations to this community who was already enriched with satisfaction!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Insta-billionaire' Eric Tse became richer than Donald Trump overnight - Business InsiderEric Tse — who has snapped photos with Rihanna, Bella Hadid, and Yao Ming — was gifted a stake in his parents' company worth $3.8 billion. Easy come easy go
Source: BusinessInsider - 🏆 729. / 51 Read more »

24-year-old Eric Tse becomes Hong Kong's newest billionaire overnight - Business InsiderTse's parents told the company's board that they transferred the shares to Tse in an effort to 'refine the management and inheritance of family wealth.' Misleading BS article. He inherited shares from his billionaire parents.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Small 'odd lot' trades making up a record share of market activity - Business InsiderOdd-lot trades are those that involve fewer than 100 shares, and their increased abundance may require new regulation to keep markets up-to-date.
Source: BusinessInsider - 🏆 729. / 51 Read more »