What I’d Do With a Billion: NYIT Students’ Powerball Dreams

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Photo Credit: USA Today

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Photo Credit: USA Today

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1.5 BILLION DOLLARS.

Yes, that’s a “b,” as in Bill Gates, whose fortune is worth 53 times that amount, and who is probably somewhere in one of his many foreign homes, sipping on a piña colada, working on his tan.

Most of us have never seen 1 million let alone 1.5 billion dollars, but hours before the drawing, the unprecedented FOMO [Fear of Missing Out] was spreading like wildfire as Americans rushed gas stations and convenience stores everywhere to get in on the Powerball action. All seeking a piece of the biggest lottery in history and praying their lucky 6 numbers could change their life.

Ever imagine just what you would do with the lump sum of money flowing in from a grand prize such as the Powerball that took place on January 13th, 2016? Well, if you haven’t, your fellow NYIT students have! The Campus Slate asked around the campus to see what our students would do with their fantasy jackpot, which would leave them with roughly $900 million after taxes!

Here are some things you could buy with roughly 1 Billion Dollars:

Chicago Cubs Organization- MLB

Los Angeles Lakers Organization – NBA

The Solomon Islands (Located in the South Pacific near Australia)

A Round Trip to the Moon

19 1963 Ferrari GTO’s

Carmine Fuschetto, a freshman studying Health Sciences, believes he has a good idea of what he would spend his money on. “I would like to buy myself a mansion, a home that stretches over acres of land!” he said. He added that he would also like to buy himself a Ferrari, his favorite type of car, presumably to drive around and inspect all those acres.

$900 Million is a tremendous amount of money and of course even the most extravagant mansion and a garage filled with a color wheel of Ferrari’s would hardly scratch the surface of his potential lifetime winnings.

Carmine, who obviously had thought this out, added that family comes first and his mother, father, and younger brother would be entitled to evenly divided shares. He would also like to invest some of his money into the ‘Swagway’ corporation that stole the spotlight in Holiday revenue and has been an enormous hit in recent months. The Swagway was featured on Good Morning America, The Ellen DeGeneres Show, and Live with Kelly and Michael. Finally, with his nearly one billion dollars Mr. Fuschetto said he would love to donate to The New York Institute of Technology and, even were he to be the beneficiary of this one in a billion windfall, is adamant about continuing to attend school and graduating after four years.

Diego Pastrana, a Biology major, and a pitcher on the Bear’s Men’s Baseball team. Like a good teammate, he has a big heart regarding his jackpot ambitions. Had he taken home the golden ticket, Diego said he would hope to live lavishly, but only after he does what he thinks is the right thing. “I will never forget my roots and what helped shape me,” said Diego, who attended Wantagh High School. He tells The Slate he would like to donate money to his former school because thanks to his great coaches and mentors at Wantagh, he developed into quite the pitcher. He also wants to personally donate money to his friends in need. He would also like for his relatives and those close to him to live comfortably and worry free.

Another freshman here at NYIT, Samantha Frisina, has a good idea of what she would like to do with her money. The first luxury Samantha would like to invest in is a vacation around Europe. She would love to see the beautiful countryside’s of Italy, or to visit the romantic and exciting city of Paris, France. Samantha was unsure of an organization she would like to donate to, but she would love to research different charities and take her time so she can choose the right one that means the most to her. Of course Samantha has a great appreciation for NYIT and would love to donate money to aid the school in its future endeavors. “I would definitely like to make a generous donation to NYIT”, Samantha also is undecided whether she would like to finish her schooling or not so it is very generous of her to donate to her school.

Of course there are very few people on this earth that would not want to win this insane amount of money, but is it really worth it? Consider the risks. The National Endowment of Financial Education says that close to seventy percent of people who acquire large amounts of money over a short period of time will lose it within the next few years. Imagine having all of that money and ending up dead broke within a few years. You would go from a luxurious and limitless lifestyle to a poor and dangerous life style. You would lose all of your belongings to the banks and would be left with nothing.  Of course, it is a possibility that you can be among the thirty percent: The winner of this kind of fortune must be smart with their money and not be wasteful. A helpful investment tip to any future billionaires reading this: Invest your money and spend it wisely, only buy things that you know you can afford and keep track of your funds.

Another thing to be concerned with is the way that money can change people. Even the most famous of rich characters in American Literature written by F. Scott Fitzgerald, Jay Gatsby, had more than enough money yet was a ghost in his own home, at his own parties. In this short period of time you are given a previously unfathomable amount of money and in the world we live in, money is power. Being cognizant of where you would now stand in society and the power you have been given will aid you in controlling your future. “It makes a lot of sense that greed would produce evil,” Kristin Smith-Crowe said, a Psychology Professor at Harvard University who helped conduct a study among 324 students that proved that simply the idea of money could lead them astray. “But we were interested in the fact that maybe it’s not even love of money, but just the mere subtle exposure to the concept of money that, in and of itself, may also be corrupting.”

On the other hand you now have the economic freedom to do whatever your heart desires. Would you finish school? Would you invest? Perhaps retire and start your new life of travel? Start the business you always dreamed of? Launch your big application idea? With $900 million dollars, your imagination is your only limitation. Let’s hope the next big winner is from NYIT!

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What I’d Do With a Billion: NYIT Students’ Powerball Dreams