Never before has a person won as much money in the lottery as now: two billion. Still, the winner doesn’t become a billionaire.
Munich – Very few people become millionaires with the right lottery numbers. Rarely do people win hundreds of millions, and very few people win over a billion. A man from the USA has now become the first person to win more than two billion dollars in Powerball. This is the world’s biggest win to date.
The jackpot increased to a record sum of over two billion for several months at the end of last year before the jackpot was hit, the lottery reports in a press release. Before that, only one other person had won billions in Powerball. The probability of winning that amount is one in 292.2 million. It’s just as unlikely to get all the numbers right and still not win anything. Despite the billion dollar jackpot, the winner is not a billionaire, there is a simple explanation for that.
lottery win | Over two billion dollars |
Location | California (USA) |
Lottery winner hits 2 billion jackpot – but he’s still not a billionaire
Nothing is known of the lottery winner himself except his name – Edwin Castro. Despite the record profit, he is not a billionaire. That’s because of the way he received his money. In the US, you can collect the prize in two different ways:
- The profit as a one-time payment: In this case, the lottery winners get a large part of their winnings at once. However, both state and local taxes are then deducted from the total profit. Although the sum for the winner is therefore smaller, most people choose this variant.
- The profit on installments: In this case, the full winnings are paid out, but in many smaller parts. This option is chosen much less frequently.
The record winner, like most Americans, chose the one-time payment. He just missed the billion mark – he can still look forward to a total of 997.6 million dollars. The profit would have been paid to him in installments over 30 years.
Lottery winner hits 2 billion jackpot – and wants to support schools
The winner reportedly asked lottery officials not to release his biographical information, reports the New York Times. He may want to protect himself by doing so, because money often brings envious people with it. another winner was even nicked by his own family. The winner also stayed away from the lottery press conference, but said he was ecstatic and shocked at the win. Another lottery winner regrets her lottery luck and even warns other lottery players.
With his record win, the lottery winner also wants to do social work and financially support public schools in California. “As someone who was educated in the California public school system, it is gratifying to hear that my win will greatly benefit the California school system,” he is quoted as saying in the press release. (kiba)
Caution: Gambling can be addictive. Affected people can find help at the Federal Center for Health Education.
#Californian #wins #billion #dollars #doesnt #billionaire