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Third-largest U.S. lottery jackpot ever

One fortunate lottery ticket-buyer in Illinois might quickly be a billionaire, following Friday evening’s $1.337 billion Mega Millions lottery drawing.

According to lottery officers, the successful numbers — 13, 36, 45, 57 and 67 and a gold Mega Ball of 14 — match a single ticket bought at a Speedway gasoline station in Des Plaines, Illinois, roughly 17 miles northwest of Chicago. The winner has but to say the prize, Harold Mays, director of the Illinois Department of the Lottery, mentioned at a information convention on Saturday.

“We don’t know whether or not they even know that they won a prize,” Mays mentioned. “So, I encourage everybody to check your ticket.”

The jackpot ranks because the third-highest lottery prize in American historical past, and its winner — who probably paid round $2 for the ticket — stands to both acquire $780.5 million as a money lump sum or obtain funds in an annuity over the following 30 years.

If the winner chooses the extra common lump sum possibility, which “Shark Tank” investor Kevin O’Leary recommends, she or he must account for a compulsory 24% federal tax withholding. The winner will probably additionally owe state earnings tax: If the winner lives in Illinois, the winnings can be thought-about taxable earnings on the state’s 4.95% price, and so they might owe much more in the event that they dwell in a state with the next earnings tax price.

That means the winner ought to count on to owe a minimal of just about $226 million in taxes, reducing the take-home quantity to roughly $554.5 million — nonetheless a doubtlessly life-changing sum of cash.

In a press release on Saturday, Mega Millions additionally famous that 26 tickets earned second-tier prizes price both $2 million or $1 million apiece, and a complete of 14,391,740 tickets received some amount of cash throughout 9 completely different prize tiers Friday evening.

If you are one of many fortunate winners — particularly for those who’re the thriller particular person who hit the jackpot — consultants say you need to instantly take steps to guard your ticket and privateness.

“Privacy is key,” Emily Irwin, senior director of recommendation at Wells Fargo Wealth & Investment Management, instructed CNBC on Friday. “That provides safety to both you and your family from scammers or other individuals who can start to prey on you.”

You ought to then rent a crew of execs to help you, together with an skilled legal professional, a monetary advisor, a tax advisor and an insurance coverage skilled, as CNBC just lately famous.

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Don’t miss: The 10 greatest locations to win the $1.34 billion Mega Millions jackpot

Blake

News and digital media editor, writer, and communications specialist. Passionate about social justice, equity, and wellness. Covering the news, viewing it differently.

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