If you had won 228 million

Unfortunately, I did not win the 228 million in Euromillions. Probably nobody here in the forum did either.

But let’s imagine that one of us had cracked the jackpot.

I have a rather simple portfolio, whereby the risk-exposed part consists mostly of broad passive index funds, and the risk-free part sits in savings accounts, now that bonds have little to negative returns. I was wondering: If I had a three-digit million net worth, would I still follow the same approach?

Maybe I would invest less in shares, simply because I don’t need the returns, so why take the risks? Or maybe I would invest more in shares, because with so much money, I can just live off the dividends, come what comes? Or maybe I would not buy funds, because with so much money I could diversify with single stocks and avoid the TER? I would probably buy a couple houses for my own and my family’s private use, with zero mortgage.

What do you think? How would investment strategies change with large amounts of money?

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You can probably pay someone to invest it for you (with that much money you probably want to be more careful with trades).

I’d consider 100% VT or equivalent, and some fraction in private deal if you can build the connections. Even a 90% drawdown would leave enough to FIRE anyway.

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I would:

  • Buy a house and car for every family member in Eastern Europe / 2 million
  • Buy a house for my 2 brothers and my parents in Switzerland / 3 million
  • Buy a house for my aunt in Switzerland / 1 million
  • Buy a house for myself in Switzerland and many other places (Italy, Eastern Europe etc.) / 10 million
  • That leaves me with 212 million. 12 million cash reserve (split up in 21 different cantonal banks) and 200 million in VT at a local Swiss bank without yearly custody fee.

50% BTC, the rest on hoes, drugs and party.


I’d probably invest part of it on a conservative asset allocation (real estate, stocks, cash, bonds, gold, maybe some cryptocurrencies because why not) and use most of it to try and delve into venture capitalism. Having enough investable wealth to be able to invest in companies directly by talking with their funder(s) / the board is kind of a dream of mine, I’d love to try and give it a go with money I can afford to loose. No idea if 228 millions qualify for it, though.

Oh, and of course, I’d open a bank. Who doesn’t want to own a bank? From memory, a mere 10 millions suffice for that.

I’d probably look for the most efficient way to donate at least 200 millions, preferably with a foundation that is invested pretty aggressively and donates to effective charities.


First question, how much is 228 millions lottery gain after tax? I heard that the first million is tax free, but the resting 227 millions will be taxed… Is it 35% than it means that you “only” have 148 millions left :slight_smile:


For that specific reason the first thing I would do is to move to Wollerau or Freienbach in kanton Schwyz.

No US in-situ assets (such as VT)! Estate tax, from 11M upwards. Would be a pity for your family.

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At that level, it becomes common to diversify even more and invest in private equity, art, wine, etc. You might even negotiate an investment in SpaceX and similar companies.

Unfortunately, I did not win the 228 million in Euromillions either. :slight_smile: Not even on FIRE yet.

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Why would you a remainder of lets say CHF 180m invest anyways? Why add risk exposure when you actually do not need to take on any risk? Or do you acutally need more than that? :wink:

Actually diversifying does not add risk exposure. It removes risk. It is counterintuitive, but it is a consequence of negative or low correlations. It is the reason for asset allocations.

At that level, people also want to preserve what they have so they can create foundations for philanthropy (see Bill Gates, for example).

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For me personally with such a large amount of money, preserving wealth becomes the focus, not increasing it. Losing a bit of purchasing power over time is ok.

So, here’s an allocation that I think I would be likely to use:

5% Gold, split across at least 5 “providers” (thinking of duty-free storage providers, bank vault, etc.).
5% USD 10 Year treasuries
30% Switzerland Bonds (because savings account will most likely be -0.75% interest, whereas the bond is only -0.47%).
0-25% Real estate (Would start with the money in Bonds/Cash, it will take some time to acquire real estate. Would try to also get at least one property in another country + some sort of green card from investing there, just to diversify geographically).
0-30% Equities (Would start with the money in Bonds/Cash and buy stocks when I feel the time is right. Stock-picking/waiting at current levels. Index funds at lower levels).
4% Bitcoin
1% Other cryptocurrencies

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We should be friends xD

I would probably use 10M for a big villa, 2-5M for a boat, 10M for my crypto gambling, and the rest in VT…

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First I’d buy my family members and close friends a house each, if they want.

Then I don’t really know. Probably pay a professional to invest most of it for me.

Glad to see there’s someone else who wouldn’t keep it all for themselves. :slight_smile:

I’d say that’s almost an amount of money where you’re better off creating your own foundation vs. donating it outright.
Something I’d be interested in would be a foundation that sponsors young graduates/professionals who want to do research, create a startup, or change career paths towards a high-impact area.
Another cool option would be to become a really long-term investor (which could enable you to get a higher expected profit than most other investors) and then find a way that your money is donated in some-hundred-years.
Something like what Benjamin Franklin did in his bequest:

Franklin bequeathed £1,000 (about $4,400 at the time, or about $125,000 in 2018 dollars[253]) each to the cities of Boston and Philadelphia, in trust to gather interest for 200 years. The trust began in 1785 when the French mathematician Charles-Joseph Mathon de la Cour, who admired Franklin greatly, wrote a friendly parody of Franklin’s Poor Richard’s Almanack called Fortunate Richard . The main character leaves a smallish amount of money in his will, five lots of 100 livres , to collect interest over one, two, three, four or five full centuries, with the resulting astronomical sums to be spent on impossibly elaborate utopian projects.[254] Franklin, who was 79 years old at the time, wrote thanking him for a great idea and telling him that he had decided to leave a bequest of 1,000 pounds each to his native Boston and his adopted Philadelphia. By 1990, more than $2,000,000 had accumulated in Franklin’s Philadelphia trust, which had loaned the money to local residents. From 1940 to 1990, the money was used mostly for mortgage loans. When the trust came due, Philadelphia decided to spend it on scholarships for local high school students. Franklin’s Boston trust fund accumulated almost $5,000,000 during that same time; at the end of its first 100 years a portion was allocated to help establish a trade school that became the Franklin Institute of Boston, and the whole fund was later dedicated to supporting this institute.

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I honestly wouldn’t know what to do with that kind of money.

Like everyone above - I would take care of my immediate family and close friends - pay off all their debt, buy them houses and give them enough to be comfortable.

After that I would probably donate the vast majority of the money or dedicate my life to charity/helping others - I was really inspired by this dude who became a billionaire and then spends all his money doing interesting things to help people

Yes, I would assume that a foundation would be a good idea.

Even with conservative spending, it would be possible to donate around 5 million chf per year and increasing it every 10 years or so to reflect 2.5% of the worth of the foundation. Adminstration should only cost a fraction of that.

I’d like to donate to effective causes to maximize the impact on the world so the charities recommended by GiveWell are an obvious choice.

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