Iowa Lottery Chief Executive Ends Winning Streak
Monday, December 17th, 2007Iowa Lottery chief executive and co-creator of Powerball Edward Stanek has earned the state over $1 billion since the lottery began in 1985. He earned $221,133 for himself in the last 12 months, making him one of the most highly-paid Iowa state government employees, which includes an $81,000 raise in 2004 as part of a deal not to take early retirement then.
Stanek will retire on October 31.
Now 61, Stanek has worked in state government for 35 years as an environmental specialist, director of state programs dealing with air pollution and radioactive and solid wastes, head of the former Iowa Energy Policy Council, and a leader in the governor’s office during years of financial and farm crises.
“I want to place my time where it is needed the most, and it is not here anymore,” Stanek explains. His father passed away last year and he references his 89-year-old mother and other elderly relatives.
When asked about his own Powerball royalties two years ago, Stanek laughed and replied, “The only thing I ever received is this walnut plaque.”

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