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Asset managers win Powerball

December 09, 2011   Rob Copeland

Call them the 0.5 percent. Timothy Davidson, Brandon Lacoff and Gregory Skidmore of Belpointe Asset Management, an $82 million Greenwich, Connecticut, multifamily office, emerged as winners of a record $254 million Powerball jackpot in late November. The win attracted significant media attention, especially after one report implied the trio and the trust they established was a front for a client of the firm. The rumor was quickly denied: "To be clear, there are a total of three trustees and there is no anonymous fourth participant," said spokesman Gary Lewi, according to the Wall Street Journal. The winners said they would donate a significant portion of their winnings to charity.

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