The best advice I heard was from Daymond, the other shark. He said before you tell anyone that you won, call everyone you know and ask to borrow money. Those that give it to you are your friends, those that don't aren't.

Who is here watching this in 2018 because now the Mega Millions is $1.6 billion?

Why... would you INTERRUPT Kevin in the middle of his damn advice. No one wants to hear what you have to say, we all clicked to hear Kevin

Im not telling anyone shit. I keep living the way i have been and a year later i disappear. Secretly moved to another country.

TMZ - please have an episode where Kevin gives his financial advise. Without you interrupting him.

Wouldn't you just shit if O'Leary won the fucking Powerball.

Every time my husband or I get a ticket he warns me that if we win were dropping off the grid and nobody will ever hear from us.

Love how brutally honest he is.

At 3:30 I wish they would not have interrupted Kevin when he was on a roll explaining what to do.

"400 million still good pocket change" lmaoooo goals af

I'm beginning to understand that the lottery is how the government raises money for itself. The taxes alone is pure greed.

4% of $400 million is more than $166K per month. I think Mr. Wonderful was correct in his first assessment. After tax, it's about $8million / year divided by 12 is approximately $600K per month.

The first thing you do is NOT TELL ANYONE.

You told me I can win 1.6 billion and only give me $400 million, for that reason I'm out.

Live like you are poor even if you are rich” The message to family at the end is the best

LOOK AT WHEN IT WAS POSTED!

That was misleading advice. STAY ANONYMOUS! 1. Protect your ticket and do not sign the ticket! Do not sign the ticket! 2. Allow for your excitement to calm down, and give yourself a few days to calm down and to clear your head. Stay anonymous, don't go crazy telling everyone INCLUDING YOUR FAMILY AND CHILDREN (except your legal wife) trust me if you do, you will regret that you did that later. 3. Research, and research and find a decent, honest, well-respected attorney!! I can not emphasize this enough, get a good attorney!! 4. Stay anonymous - Get the attorney and open a trust and have the trust get the winnings from the state, like that you will remain anonymous. Stay anonymous! 5. Get a financial firm to help you with the winnings. This is very important! 6. Educate yourself about finances, retirement, and how to protect your financial interest. 7. Educate yourself! About Real estate 8. Educate yourself! Cars 9. Educate yourself! about how to spend 10. It takes time to get normalized when winning large sums of money because of the money euphoria. 11. Continue to live like you are living and pay off all of your debts. 12. Decide what to do with your employment. Don't lose your logic and reasoning over money, if you like your job, stay or go part-time. You got money and security why act irrational... slow down and calm down, you will think clearer when calm. 12a. Listen to the experts in their field, your attorney, financial advisors, counselor, and mentors. And of course, you will have done your due diligence and good solid research and your circle of people is solid around you. 13. Increase your economics slowly and never allow the money to become your master. 14. Do not lend, give or spoil your children with large amounts of money. As you learn how to be rich, pass that knowledge to your children and teach them how to make money work for them. 15. Do not buy a business, do not get in a business and or invest in any businesses at all! If you were not a business person before winning, you will not automatically become the business person of the year because you won the lottery. Note: If you were not born rich, you will not know how to be rich, and when you do not know how to be rich, you tend to return to being poor pretty quick! Think about it! You did not win per se, because you never trained, worked, lived and executed anything to earn such a large amount of money, you got lucky and got a large sum of money. You did not learn how to earn that sum of money, therefore, you have no skills about how to deal with such a large sum of money and since you never had that kind of money you do not know how to live life with such a large sum of money and you have never learned how to develop a lifestyle around such a large amount of money. If you walk into the world of money without understanding the perils you will be taken advantage of, and you will be poor again within a few years. The internet is full of sad lottery winners who today are utterly broke and again poor! Why? Money euphoria! Stay humble, don't get cocky, stay humble, don't think because you got the lottery that you are now the smartest person around. You are where you are in life because of many reasons and the lottery is not going to change none of that. The only thing that the lottery is going to change is that you have money now to pay the experts for advice, but even that requires that you make good decisions and that's is why it is smart to slow down, way down, stay anonymous, educate yourself and to not make a bunch of waves while you are learning how to surf....KISS! Enjoy! and don't forget to contact me to give me some cash for the advice! LOL!

Those two need to shut up and let Kevin talk!

Is it just me or do all big lottery winners coincidentally live in the same state?

Wish the TMZ host on the left would shut the hell up and let Kevin O’Leary finish a sentence. Smh

1.6 Billion turns to 400 million. What a rip this government is. Criminals and thugs at the highest level!!!!!!!!!!!!

‘$166,000 a month, now you’re poor’ 😂😂 sheeeeeesh

The lottery only exists because of the all the people who dont win. I if I told 10 people that I will give one of them $50 if they guess what number im thinking from 1 to 50 but they have to pay $10 to even play, majority of my money came from the 9 losers compared to the 1 winner.

1. Calculate your yearly expenses. 2. Buy enough government bonds for the coupons to cover your expenses. 3. Buy a diverse portfolio. 4. Relax.

If they tax me 50%, I expect free healthcare, free school and college, year-long maternity leaves, prisons that actually turn criminals into productive members of society instead of torturing them, renewable energy etc.

*Its now October 23 2018 and the Mega Millions is 1.6 bil.*

This is incredibly stupid advice. We have to understand that this guy is obsessed with making money. If you have 400 mil, why waste time worrying about making more money? Stop thinking like a person who wants to compete with billionaires. Enjoy the fact that you never have to work again and dont start buying yachts and mink coats. #1. Get lump sum and stay anonymous. #2. Throw your phone on the trash and get on a plane to somewhere quiet so you can let it all sink in. #3. Figure out where you're going to put all this money. #4. Figure out who you are going to give money to. #5. NEVER return to your home city. #6. Live life comfortably on like 1 or 2 mil a year and experience life and have fun.

"it's still good pocket change" 400 million 😭 he's my favourite shark 🤣🤣

I don't even have enough money to buy a ticket.

Best thing he said was that he doesn't believe he's going to win. It's pure entertainment. He understands the odds are heavily against him.

Bruh this man really just said "pocket change".

The rest of the advice went unheard cause these bozos couldn’t stop interrupting. Damn.

Kevin gives some of the most down to earth, brutally honest advice out there. His book is spot on - highly recommended. Cool bit, TMZ - thanks for doing this! -Clark

People may think Mr. Wonderful is a total jerk. But he tells it like it is and doesn't sugar coat anything. That's why he is the best person to have on Shark Tank.

He’s awesome! Always good to have a friend that’s brutally honest!!😅

one of the most important things he missed is if you live in a state with a State Income Tax like NY, you need to establish residency in a state that doesn't have it, like Florida, for 183 days until you're an official resident. Then you cash in your ticket. Would save you over $80M in this example. This is a standard move for the rich.

"We are out of time." No you are not. You do this for a living.

I work in a convenience store and I can tell you that the drawing day for this jackpot still gives me nightmares. I had a line of 60 people with 3 other employees helping but there was nothing we could do to speed up the machine that prints the tickets. The people that really slowed it down was the customers that bought $1000 in Powerball

Lol Kevin O' Leary said "$800million that's still a fair amount of change" 😂

Damn quit interrupting him, let him talk

I don't like these odds, and for that I'm out

I think US is insane that lottery jackpots are taxed so much, 50% ?! That's crazy, even in socialist Canada the lottery jackpot winnings aren't taxed at all, 0%, if you win $50M you get $50M tax free.

O'Leary - A legend in his own mind.

First thing you do, move away from your home. Before you do put up "No Tresspassing" signs so people don't walk on your property and sue you for a phony trip and fall. Get a burner phone and turn off your phone. When people ask you if you won, tell them you were just a front for the real guy, and got bubkus.

The only aspect i hate about Kevin is when he ask's for 100% of my business when i only offered 20%

1:43 Wow he said 1.6 Billion and thats exactly what it is today.

Thank you Kevin, appreciate your invaluable advice, have a great day, be safe out there.

I'd be like "I want 50% of that bowling alley".

I got one better. Don't buy lotto tickets for hundreds of dollars. Odds are very poor and they won't improve much if you buy 1 ticket or 100 tickets. So be reasonable if you can't afford to lose hundreds of dollars. Don't buy. Just buy one or two tickets as a casual thing. No full time lottery player makes money.

-“400 Mil is great pocket change”... $40 💵 is great pocket change for me 😭

Finally I watch the video that’s been in my recommended for 2 years

today is 1/4/2020 and am watching this to be entertained

$400 million x 4% interest is actually $16 million a year. $1.3 million a month $44,000 per day $1850 per hour $30 per minute $.51 per second

This man said 400 million is pocket change..... LMAO

Too bad the Canadian lotteries aren't that high, no tax here!

I hope to win one day to buy my mother house !🙏

the dude in the white shirt doesnt understand lol. you still have your 400m instantly....all kevin was saying was that after you put it in a bank, youre getting 1.4m a year in INTEREST. the dude in the white thought for some reason that you were only going to ever have 1.4m a year

Did this goof have to interrupt the actual financial advice we were getting? Oy!

“The lottery is a tax on the poor.” Kevin’s first bit of advice should have been to advise people not to waste their money on lottery tickets.

Who is here August 2019

Kevin can I have 10,000 I promise I'll never call you again.

Kevin's bald head is brighther than my future, and for that reason Im out

I showed this video to my dog He said get all cash put it in the mattress

OMG, why did they interrupt him!!! Great idea of investing first to make more in the long run. ALSO, good to know about the cut from taxes and other BS. Either way, at least it goes to the "schools" and such.....😂😂

I don't think he did the math right. $400 million times 4% interest is actually $16 million a year, which comes out to about $1.3 million a month.

Damn this was two years ago??? Feels like yesterday seriously

If its so fast why did you have to speed up the video to show it loading?

Thanks for the video this guy knows a thing or two.

1st thing - get a new phone & phone # - your old phone will blow up with calls from scam artists and 5th cousins once removed. Make photocompy/scan of the original, put original in safe deposti box. find a good laywer & finaincial advisor who deals with big money. pay off your debts. make sure taxes get paid. don't spend too much of the principal, or else you may end up broke. If you stink at handling money now, having a lot of money makes it harder ...not easier. have fun!

Hey! EVERY ticket is a winner until the winning numbers are announced!! 😁😁👍🏼👍🏼

I remember my maths teacher used to get livid when mentioned the chances of her buying one, mathematically it's fookin stupid lmao

Cheers for the advice. Im going to need it😉👍

The most truthful thing to come out that man's mouth this is just for entertainment

Guys interrupted him with stupid questions 😡😡.

There was probably an error when he got it to 166 000 $ a month. If the estimated total value of taking the cash payout is 400 million $ (after tax) and the interest at 4% , the annual revenue would be 16 million $. 16 million $ then divided by twelve would give us the monthly income before taxes which is approximately 1,3 million $. After then applying taxes for each month you'd get 666 666 $ each month, which is the number Kevin touched on before he corrected himself . If you then multiply this sum by 0,25 u get 166 666 $, which is the number Kevin was talking about. This would mean that he did in fact double tax it. I might be wrong though and if someone is able to come up with another answer I'd be happy to see it.

Didn't expect a rich person to buy lotto tickets lol

The lottery is really just another tax on poor people lol

Oh... If you're making 166,000 a month you're poor I guess.

I would use all my winnings to buy lottery tickets to see if I can win the lottery.

I remember when the power ball went this high It was crazy. I even bought a couple tickets. Oh I didn’t win.

So don't get Gold, don't get Silver, Don't buy stocks. Put all the money into the United States Dollar. Nothing bad can happen that way...

Pretty disgusting how much is taken from taxes..... EVERY time someone wins the lottery so does the government !

There was 1 lucky winner in South Carolina.congrats awesome.🍾

Dude I met Kevin when I won to he's dope yo.

One winner sued the state of Illinois for defaulting on the yearly payments and won. They argued that the state got all of the money upfront in the first place so they shouldn’t have spent it all. It wasn’t like they didn’t have it in the first place.

I disagree. Tell almost no one you won. Most lottery wins are not this much and most lottery winners go broke in a few short years from bad decisions. Get the lump sum, pay your taxes, buy those Government AAA bonds and wait it out. If you are working try to stay put unless your job really sucks. If it does take some leave until you are sure you can live off what you won. When you get your first payments, get out of debt. Don't buy a bunch of stuff WAIT and get out of debt. Pay off all credit card bills and if you own a home pay off the mortgage and keep the house so that no matter what you can have a roof over your head and afford the taxes. Find something positive to do to keep busy like going back to school or volunteer. Don't feel pressured to give money to everyone who asks. Most winners go broke by spending large, digging family and friends out of debt, poor investing ,and business start ups. If I ever win I will be generous to my household first and I won't ever be broke again. Even if I still have to work i will invest in a retirement plan.

I love Kevin.. sense of humor and smart. A Shark... :-)

FYI, whoever won it was instantly wayyyy richer than Kevin O'Leary. He's only worth about 400 mil but you would think he was the owner of Amazon. And the lump sum isn't 50% it's more like 39% big difference

I bought one of Kevin's books (men, women, and money) and I have to say that it is the best book out there for financial self help. It didn't make me rich by any change, but the thinks he says there and the exercises he show you how to make, has taken me out of some of my biggest debts

This dude says take the $400m and turn it into $1.4m a year through government bonds. But if you're a savage who doesn't give a fuck about anyone else after you're dead, you could just use $5m a year from that $400m and it'd still last 80 years. There would likely be millions leftover anyway because chances are you aren't gonna live for 80 years longer from the moment you get the $400m.

People commenting on the taxes, do you realize that when you're born in the US you're automatically $85,000 in debt. That's something I read here on KZfaq.?

Kevin's math is a little off... The winner chose to cash out and received $913.7 million. After all the taxes are paid you will pocket around $506.85 million... I would still hire a lawyer and a financial advisor to help out with stock options ect... There's a lot of great advice on here!!

Am I the only one that caught that this video was published in Jan 2016?

“It’s still good pocket change” lmfaoooo what $400 million is not pocket change.

I love Kevin.. Since of humor and smart. A Shark... :-)

Why would you invest in bonds as Kevin said to make just $166k a month when if you took just $10,000,000 to buy a nice home, car, pay off credit cards and loans and still have plenty of money left over and invest the rest being $390,000,000 into residential property and get a net return (after tax and all expenses) of around $9,805,536 a year? That number is conservative and based on each home having a 4 week vacant period per year and after-tax dollars and after agents fees. Here on the Gold Coast of Australia, a property that cost $750,000 Iincluding stamp duty) will return at least $750 a week. Times that by just 48 weeks (not 52 which allows a 4 week vacant period every year to be conservative) returns $36,000 for the year. Less agents fees of 3% leaves $34,920 less 10% GST leaves $31,428... Minus a high margin of tax at say 40% which can be less if you structure your family trust and corporate set up leaves you with $18,856.80 for the year... This is before you claim any tax back. How many $750,000 properties can you buy with the $390,000,000? You can buy 520 of them. So 520 times $18,856.80 returns a net profit after tax every year of $9,805,536 divided by 12 months is $817,128 every month... So much for the shark tank advice as I just showed you how to make 490% times more than a so called shark tank expert and I'm no expert. Here is why so many fail because they take advice from the wrong people. Just sit down and crunch the numbers as I am sure with property you will never have to work a day in your life again while making very good money. Of course this is if you were to win that kind of money.

50%! I don't even want it anymore

Some poor guy wins the lottery loses a huge chunk while amazon and other rich corporations pay 0 in state taxes and their people have to get help from the government...

Only $400,000,000?!?! Now I’m poor! What? I only make over a million dollars a year? I’m living in poverty.

Warning to Kevin. Don't drive your boat while drunk and kill someone it will come back to haunt you.