Lotto winner Pete Kyle skint on dole | The Sun |HomePage|News
|
|
But now he is on the dole after squandering ALL of his massive fortune at the rate of £4,600 A DAY. The Sun can reveal potless Pete even OWES money and has angry creditors chasing him for cash. He is working as a caretaker at a grubby budget hotel and also claims around £100 a week in disability living allowance and mobility allowance. “It’s hard to believe he was a millionaire, now he’s just a mess.”
The former Royal Artillery gunner won his fortune in February 2005. He celebrated by playing bingo with his mates and promptly won another £500. He then blew cash on a £550,000 house, a £40,000 Mercedes, a £40,000 Range Rover and another £20,000 4×4. He also gave money to kids Gemma, 23, and Roy, 14. But within months he was dubbed the country’s meanest man after refusing to help care for four of his brothers and sisters. Jean, 55, Carol, 49, David, 52, and Steven, 47, all suffer from incurable Huntington’s disease. But relatives claimed Pete had refused to give them a penny. He was still a millionaire last year. But now Pete has sold his luxury home and his fleet of cars. He drives a battered Vauxhall Astra and works at the £15-a-night Rooms guesthouse in his home town. It sits on one of Plymouth’s grubbiest streets opposite a derelict theatre, a tattoo parlour and next to a sex shop called Slinkies. The cash-up-front venue boasts just a few squalid rooms, each with a basic bed and TV. A source said: “Pete has been working at the hotel for a few months just to get by. He has his own room, marked private, and he spends a lot of time in there.
Money does strange things to stupid people, or is it stupid things to strange people?
“Moran”? Ack! The irony!
I am at a loss for words.
“Moran”? Ack! The irony! Though nice to see this sort of thing doesn’t just happen in the States.
I think you meant “MORON” – whatever the spelling, he certainly is one.
Interesting show on tv about “The Fate of Lottery Winners.” Most lose their family, friends, and money within 5 years.
I didn’t catch in the article HOW this guy lost his money. Putting money into hard assets cant ever be THAT bad. Guess I’ll wait for the next tv special.
Let me guess… the guy has a gambling problem.
#2, #3 – Morans
Some people just deserve their position in life, such as this guy and other people who live beyond their financial means.
#5–Ron==now that you mention it. Yea, most likely. He won it gambling, and the Karma wheel kept rolling. The other best guess would be drugs, but no clues for that. Thanks.
This is what happens when peoples parents are related.
I’m glad Pete lives in a country that can maintain him in these bitter times. And fortunately, he will have a universal health plan to help him with his mental problem (blowing $9K USD/day over 3 years).
We can rest comfortably knowing that the British government will not allow him to become frustrated and end up clinging to a gun, or clinging to religion, or turning into a bigoted xenophobe. And he won’t have to pay a cent for all this support. It will be all paid for by his fellow citizens – the ones who are working.
We need visionaries like ones who run the British government to completely run our lives here in the USA.
I agree with bobbo. Karma works.
Not to surprising, most poor people (not all, their are allot who are poor due to no fault of their own) are not people with income problems, they are people with spending problems, and bad habits.
Its a wonder that financial management is not taught in grade school in this country (granted this did happen in England)
>>We need visionaries like ones who run
>>the British government to completely
>>run our lives here in the USA.
Compared to the morans who are running over our lives in the USA currently, this would be a giant step for mankind.
#13
>>We need visionaries like ones who run
>>the British government to completely
>>run our lives here in the USA
Compared to the elitist snob who talks down to Midwestern Americans and might be running our lives in the USA in 2009, anyone else would be a giant step for mankind.
#15 – jbenson2 – anyone else would be a giant step for mankind.
Yeah, 100 more years of American troops in Iraq sounds like a giant step for mankind…
>>Compared to the elitist snob who talks
>>down to Midwestern Americans
“elitist snob”? “talks down”?? Har. Did you hear what he actually SAID? If so, I guess you’ve never lived in the midwest, otherwise you would know he was spot-on.
Sure, there are people in Chicago, Minneapolis, etc. who defy the description. But the overwhelming majority? Spot-on.
A moron is a moron, no matter how rich they may be at the time.
For cripes sake, put the cash in a simple bank account and live off of the interest.
5% of 10 million is a half mil a year.
I could have quite on time on that kind of money.
Don
The guys problems arose when he found out he had a lot more cousins than he originally anticipated. Plus all those who wanted to be his friend.
Shit, if you can’t blow $9,000 a day there must be something wrong with you.
Just shows to go ya. Money does not cure poverty
Live off the interest? Who are we to judge? What would we do if we had that kind of money? Most people will probably do the same, buy a nice house, buy some nice cars. Then if you just leave some in the bank for a rainy day people start saying you are mean for not giving any money to friends or charities. Then when the money dries up people complain and call you a moron.
Smart people would make the money work for them, whether it is investing in property, trading shares or using some of the cash to set up a business. Then most people aren’t smart and that would be hugely risky and could take a while to reap any rewards.
I could easily blow $10m in just one purchase. Why are people so amazed how you can blow that kind of money? Simple, buy a yacht or a mansion or something. Also what a lot of these people forget is that it is not just the initial cost, it is the total cost of owner ship. For example, you buy that dream million dollar Ferrari Enzo, Ferrari recommends servicing every 3,000 miles, each service costing around $10,000. Then lets not forget the insurance, fuel and general maintenance, which is true with any valuable good. A big mansion is going to rack up big bills.
This reminds me of an old saying, “It’s not what you earn, but what you save.”
It’s been quite awhile. But here goes, the coveted official BubbaRayDipDork Award. (Dang, another one to add to the 2008 winners list.)
#23 – BubbaRay
LOL
#16 Jägermeister – Might want to listen to what McCain said without the MSM filter turned on next time. He said 100 years of troops in Iraq like we now have troops in Japan and Germany.
#17 Mister Mustard – Yes, I heard what he said on what must have been a bad cell phone recorder and yes I have been a mid-westerner all my life yes that dipshit IS most assuredly an elitist asshole.
BTW Nice to argue with you again. 🙂
#18 – “5% of 10 million is a half mil a year”
who do you bank with? a simple bank account would pay 1-2% a year tops, which means you don’t even keep up with inflation.
“who do you bank with? a simple bank account would pay 1-2% a year tops, which means you don’t even keep up with inflation.”
…
#25 – Steve-O – Might want to listen to what McCain said without the MSM filter turned on next time. He said 100 years of troops in Iraq like we now have troops in Japan and Germany.
Not much of a difference, is it?!
#16 – Don’t get your hopes up with the O-man. His people are already talking about keeping 60,000 troops in Iraq. Typical politician who speaks with forked tongue.
He says one thing to the wine sipping effete in San Francisco and other thing to the folks in the Midwest.
#26–who do YOU bank with? The average customer? YOu evidently don’t know one fact about the rich. They get better treatment than you or I do. The percent return, even on simple savings accounts, goes up as you deposit more dollars. Time deposits even higher, so I would be shocked to not get more than 5% on such accounts.
Even better for high security would be tax free accounts–even at 2% return, 200K per year.
Somehow, I’d just try to get by.
I also wonder why the pimps and thugs at these government run/regulated substituted theft organizations even allow lump sum payouts. Like giving cocaine to a baby.
#17 – Yeah, I head what he said. His jaw-droppingly stupid comment to the lefties in San Francisco has been in detail all over the airwaves. Obama took some major hits by the press yesterday and again today. This won’t die down. It just adds another brick to the wall of shame.
And I have lived in the Midwest for the past 10 years. My neighbors are not a bunch of Corncob-Smokin’, Banjo-Strokin’ Chicken-Chokin’ Cousin-Pokin’ Inbred Hillbilly Racist Morons as the elite in San Francisco seem to think.