Booze and Babes: Man Shares How He Carelessly Blew R17.4m Lotto Winnings
- A South African man who appeared on the show I Blew It shared how he managed to blow over R17 million of his monetary lotto prize
- Fananyana stated that he bought multiple luxury cars, trucks, and properties and spent money on alcohol and women
- Although he was reckless with his cash, people applauded the man for also seeing to his loved ones
- Financial advisor Walter De Wet spoke to Briefly News about the steps the lottery winner should have taken
Source: UGC
Winning the lottery can be both a blessing and a curse. It offers financial freedom while also tempting reckless spending. One local man openly shared how he blew over R17 million on alcohol, luxury cars and other indulgences.
From rags to riches to rags
The TikTok account @zulu1813 shared a snippet of a man named Fananyana appearing on Mzansi Magic's series I Blew It. According to the lotto winner, his financial success began when he sold a DVD player for R70 and used the money to buy a lotto ticket in Cosmo City.
"I won the lotto on 8 January 2017," said the man.
PAY ATTENTION: Briefly News is now on YouTube! Check out our interviews on Briefly TV Life now!
When he received his money, Fananyana left Cosmo City and booked himself a room in a guesthouse in Randburg to avoid those looking for him. It didn't take him long to spend big, though.
The next morning, he bought a Golf GTI worth R250 000, even though he didn't know how to drive. According to another person who appeared in the video, Fananyana paid someone R5 000 to drive him around in his new car.
Other expensive purchases included three houses ranging between R1.8 million and R3.8 million, furniture worth R260 000, two Ivecos for R600 000, and at least five cars collectively costing him R3 530 000.
The baller also made sure his loved ones were sorted with vehicles:
"For peace of mind, I wanted everyone in the family to have a car."
Money was also spent on women and booze. Fananyana shared that he used almost R20 000 daily on house parties he hosted with his friends.
Watch the video below:
Steps to take after getting millions
Financial advisor Walter De Wet spoke to Briefly News about what Fananyana should have done after hitting the jackpot:
"There are various options available to the winner when it comes to putting such a large amount of money to good use. A good financial advisor could add lots of value in such matters.
"In my opinion, making decisive decisions is difficult as one does not prepare beforehand for such gain and to know what the plan is going forward."
Walter then shared two routes Fananyana could have gone:
- Get help from a financial advisor to structure spending and savings to sustain himself and his family.
- Have a well-thought-out, documented plan and stick to it. This requires discipline. Unfortunately, many people fall short in this area.
"There are many well-structured plans on the market to assist in putting these plans into action, but it requires someone with the relevant knowledge to provide guidance."
Internet users react to man's big spending
Many social media users gathered in the comment section with wonder, while others applauded Fananyana for financially seeing to his family.
@mocash101_ told the online community:
"He was buying the right things. The problem was management."
@leroux244 advised the man:
"Sell those houses and start a business."
@justmedannyc said Fananyana had a good heart, adding:
"He definitely should’ve invested some of it first."
@rajeevjekmohan shared their opinion in the comments:
"Honestly, this looks like a man with no regrets. He took care of his family first. After that, nothing matters."
@jmlgl29 told the public:
"He should've hired a financial advisor."
@ntombi532 noted in the comment section:
"The problem starts when you buy drinks for your friends."
Olympic athlete blew millions and now depends on government grant
In a similar story, Briefly News reported about Olympic silver medallist Luvo Manyonga, who shared that he lost R8.4 million and now relies on money from the government.
Many people's hearts broke when they heard the Olympian's story and shared what they would have done with the money.
PAY ATTENTION: Сheck out news that is picked exactly for YOU - click on “Recommended for you” and enjoy!
Source: Briefly News
