Mark Cuban Says Powerball Player Who Won $1.08B Jackpot Should Do This Next: 'Don't Want To Blow It All In One Spot'

After a ticket holder in California hit the $1.08 billion Powerball jackpot, marking it as the third-highest in history, CNBC recalls a piece of advice that Mark Cuban, the self-made billionaire and star of ABC's "Shark Tank," made years ago.

"Don't take the lump sum," Cuban told the Dallas Morning News in 2016.

"You don't want to blow it all in one spot."

The comments were initially made in 2016 when the Powerball jackpot reached $1.6 billion.

Invest or Not?: While it might be tempting to take the lump sum and grow the money quickly with investments, Cuban said it's not worth the risk.

"You don't become a smart investor when you win the lottery," says Cuban. "Don't make investments. You can put it in the bank and live comfortably. Forever."

See Also: Larry Summers Says Team Biden’s Crackdown on M&A Almost Like a ‘War on Business’

Life After Winning: Regardless of the payout option the winner chooses, one should expect their life to change.

"If you were happy yesterday, you are going to be a lot happier tomorrow. Life gets easier when you don't have to worry about the bills,” Cuban said.

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Image by Kathy Hutchins on Shutterstock

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