The chances of becoming a Powerball lottery winner are one in 292.2 million. As rare as that is, there is a smaller group — those who have used their winnings to successfully give back. Roy Cokrum is a member of that exclusive club and this is his story…
Roy Cockrum Never Stopped Being a Theater Kid
Long before Roy Cockrum won $153 million in the American Powerball, he had a stint as a struggling character actor.
During that time, Cockrum was paid very little for supporting roles in plays. Then, he would do financial proofreading at night to make ends meet.
THE THEME OF BEING BOTH “WITHOUT MONEY AND AROUND MONEY A LOT” CONTINUED UNTIL HE BECAME A LOTTERY WINNER.
Despite never getting 15 minutes of fame, Roy Cockrum never lost his love of theater. For that reason, he knew he wanted to support the arts when he had the financial windfall in 2014.
The former off-Broadway actor took $60 million of the money and created the Roy Cockrum Foundation.
That is half of his earnings, aligning with other wealthy individuals participating in the Wealth Pledge.
However, Cockrum wants to do more than back independent productions…
He wants to empower these performers to take risks with their art.
Lottery Winner Plans a 200-Year Legacy for the Arts
So far, the Roy Cockrum Foundation has given away $25 million and backed 47 theatrical productions.
One of these plays, “Prayer for the French Republic,” was a finalist in the Tony Award’s Best Play category.
Yet, the lottery winner does not focus on awards. He wants to push the envelope of theater.
“WHETHER A PLAY RUNS FOR TWO WEEKS OR TWO YEARS IS NOT PART OF OUR MISSION. THAT’S UP TO THE ARTISTS; IT’S NOT UP TO US. WE’RE MAKING THINGS HAPPEN THAT PEOPLE ASSUMED THEY COULDN’T DO. WHEN THEY HAPPEN, WE’VE SUCCEEDED.”
Roy Cockrum via AP News
Further, Cockrum intends for this mission to be carried out long after he’s gone. A key piece of the foundation’s charter promises this initiative until at least 2113.
“I DON’T KNOW WHERE THEATER WILL BE IN 200 YEARS, BUT WE HOPE IT WILL BE AROUND FOR ANOTHER HUNDRED.”
So far, The Roy Cockrum Foundation has definitely made headway toward that objective.
Be Great,
GCTV Staff
Disclaimer: This content is intended to be used for educational and informational purposes only. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment or business decision. Investment, real estate, and business involve great risk and there is no guarantee of performance or results.We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of a financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.
