In the Los Angeles suburb of Glendora, entrepreneur Keith Porchia cheerfully dons a hard hat to check on the progress of the 51-unit apartment complex he is developing. In Winter Springs, Fla., Sheelah Ryan, a retired real estate agent, meets with the board of the Ryan Foundation to map programs for what she calls "the new poor." Somewhere in southern Atlantic waters, Anthony Palermo, formerly of the U.S. Navy, cruises with his family aboard his own yacht, joyfully named Picked Six.
When state-run lotteries first became popular in the late 1970s, "instant millionaires" were the isolated stuff of media sensation. Now...
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