For nearly a month, the Connecticut Lottery waited for word from the winner of a $254.2 million jackpot, the biggest in its history. On Monday, the joint ticket-holders revealed themselves: three wealth managers from Greenwich.
Greg Skidmore, Brandon Lacoff and Tim Davidson—all colleagues at Belpointe Asset Management—arrived Monday morning at the Rocky Point office of the Connecticut Lottery Corp.
Lottery chairman Frank Farricker recognized one of the men. "I did a double take," he said.
Lacoff, managing director of Belpointe Capital, the company's real estate investment division, had appeared frequently before the Greenwich, Conn., planning and zoning commission, on which Farricker had served.
"While the stereotype may be a poor guy down on his luck who wins, the facts of the matter is: Everyone is equal when they play," Farricker said. "These guys, they played one buck."
The group created a trust, called the Putnam Avenue Family Trust, named after the street they work on. Their attorney said a "significant" amount of the money would go to charity.
"Obviously, everybody is extremely excited," Jason Kurland, the group's attorney, said in a phone interview. "These numbers are huge."
The trust took the after-tax lump sum of $104 million cash.
Davidson bought a single Quick Pick ticket at the Shippan Point BP gas station in Stamford. A computer chose the random numbers of 12-14-34-39-46, Powerball 36.
The jackpot was the largest ever won in Connecticut and the 12th biggest nationwide in Powerball history. The largest previous lottery jackpot in Connecticut was $59.5 million in June 2005.
The trio work in one of the nation's wealthiest communities. The Associated Press reported that their firm manages about $82 million in client assets, according to the Securities and Exchange Commission. Lacoff co-founded Belpointe Capital. Skidmore, Belpointe's president and chief investment officer, is a former member of the U.S. sailing team and was once an Olympic hopeful, according to the company's website. Davidson started his career in financial markets in 1979 with a French bank, the company's website says.
Kurland said the three men contacted his law firm immediately after Davidson bought the ticket on Nov. 2, and right away discussed philanthropy.
"The first time we spoke to them and met them, it was one of the first things they said: They want a significant amount of this to go to charity," he said.
As the weeks went by without a winner, lottery officials had used billboards across the state to urge the lucky winner to step forward. But there was one hiccup: The night of the drawing, a local TV station showed a wrong number. "The Powerball was off by a digit, which kind of freaked everybody out," he said.
The station corrected it about an hour later.
This story first appeared on WSJ.com.