Tuesday, October 23, 2018

The Mega Millions Jackpot is Now $1.6 Billion—Here's Who Won the 5 Biggest US Lottery Prizes Ever - Drawing Tonight!

Although investing is one of the smartest ways to grow your wealth, it's not the only way. A lucky few become instant multimillionaires thanks to the lottery.

If you want to take a chance on joining them, Tuesday's Mega Millions jackpot is now $1.6 billion, the highest jackpot ever.

Lottery winners can choose to receive the money in either an annuity — annual allotments over 30 years — or to get it all at once in a single payment for a smaller amount. For example, the lump sum on the $1.6 billion jackpot would be $913 million, according to lottery site USAMega.com. If a single winner takes the single payment, the federal tax withholding would be over $219 million. Then, there can be state taxes too.

Still, not too shabby for buying a $2 ticket.

Here are the top five prizes ever won.

1. $1.586 Billion (Powerball)

There were three winning tickets for history's biggest prize, which was drawn on Jan. 13, 2016, according to CNN Money.
John and Lisa Robinson in Tennessee, Maureen Smith and David Kaltschmidt in Florida and Marvin and Mae Acosta in California all had the option of roughly $533 million before taxes as an annuity or $327.8 million as the lump-sum payment.

2. $758.7 Million (Powerball)

Mavis L. Wanczyk of Chicopee, Massachusetts, claimed the winning ticket for the $758.7 million Powerball jackpot in August of 2017. Shortly after, she called up her employer at Mercy Medical Center, where she had worked for 32 years, and quit.
"I've called them and told them I will not be coming back," she told NBC.
She decided to take the lump sum for the prize, accepting $480.5 million before taxes.

3. $656 Million (Mega Millions)

In March 2012, Mega Millions also had three winning tickets.
Illinois winners Merle and Patricia Butler claimed $218.6 million of the winnings.
In Maryland, a state that allows lottery winners to remain anonymous, three school employees claimed their share under the name "The Three Amigos."
The third winner in Kansas remains anonymous.

4. $648 Million (Mega Millions)

Ira Curry of Georgia and Steve Tran of California both won the December 2013 Mega Millions lottery. Both went with the lump sum option of $173 million.

5. $590.5 Million (Powerball)
In May 2013, Gloria Mackenzie in Florida won a jackpot worth about $590 million, at the time making history as the biggest jackpot to be won by only one person. She chose to receive the one-time payment of about $370 million before taxes.

Source NBC

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