Really it just turns every conversation into a roundabout request for money. People are definitely nice to you and ask you onto all kinds of boards, funds, etc.. but it’s a hassle. You start to worry a little bit at least about personal security, especially if you have kids. You also worry about ruining them forever. (Also, watch out for temptation that could ruin your happy family life... suddenly you’re extra “attractive” it seems.)
On the bright side, you can try and get really big projects done, Elon musk-style. Just knowing you have the money helps a lot in getting meetings, raising more money, etc.
I’d just put it all in an s+p 500 index fund. Though of course I haven’t followed my own advice. I wouldn’t worry too much about dripping it in either, maybe put half in over a month and the rest over six months. Long term you’re pretty likely to wish you’d invested sooner rather than later.
Set up some estate planning stuff and buy a model 3!