Family Who Won $429 Million Lottery Aims To Use Money To Fight Poverty
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By Zahara Hill, HuffPost Black Voices
Pearlie Mae Smith (far right) and her children won the Powerball jackpot.
We’ve all fantasized about what we’d do if a few million dollars just found its way into our lives. For the Smith family of Trenton, New Jersey, philanthropy was at the top of their list after they won a $429 million Powerball jackpot last year.
At a post-win press conference last May, the family, which consists of Pearlie Mae Smith and her seven children, said they planned to spend their earnings on their community ― and they meant it.
The eight-person Smith family chose to collect their winnings in a lump sum as opposed to yearly installments, with each receiving about $25 million after taxes. After paying off bills, student loans and taking care of other financial obligations, they invested their money in Trenton through the Smith Family Foundation.
“We want to fund programs that directly affect systems of poverty so we can help change the systems or change the dynamics that are causing people to be in poverty,” family member and foundation program manager Harold Smith told NJ.com.
Read the full article here.
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