• News
  • Film and TV
  • Music
  • Tech
  • Features
  • Celebrity
  • Politics
  • Weird
  • Community
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • LADbible
  • SPORTbible
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
TikTok
YouTube
Submit Your Content
Winner of $1.35 billion lottery is getting less than $500 million

Home> News

Published 08:00 23 Feb 2023 GMT

Winner of $1.35 billion lottery is getting less than $500 million

State officials have revealed a Mega Millions jackpot winner will only receive a fraction of their billion-dollar win.

Poppy Bilderbeck

Poppy Bilderbeck

State officials have revealed a Mega Millions jackpot winner will only receive a fraction of their billion-dollar win.

I mean, it's still enough money to set you, your kids, your grandkids, and your grandkids' children up for life, so it's hardly anything to cry about.

However, if I'd won $1.35 billion (£1.12 billion) and only received $498 million (£412 million), I would definitely be slightly confused and irked as to why the jackpot sum was actually significantly less than the Mega Millions sign said.

But where is $852 million (£706 million) of the jackpot disappearing to?

Advert

Someone's won the 13 January Mega Millions jackpot draw of  $1.35 billion.
karenfoleyphotography / Alamy Stock Photo

On Wednesday, state officials confirmed someone had come forward to claim the $1.35 billion Mega Millions jackpot - the fourth-largest in US history - through limited liability company LaKoma Island Investments LLC.

The lottery winner - who overcame odds of one in 302.6 million and who wishes to remain anonymous - purchased the 13 January draw Mega Millions jackpot ticket at Hometown Gas & Grill in Lebanon, Maine.

Instead of collecting their winnings in instalments, the soon-to-be multi-millionaire has chosen to receive the entirety of the jackpot in one lump-sum of cash, which officials say results in them receiving $723,564,144 (£599,617,606) prior to tax.

The jackpot winner bought their winning ticket at Hometown Gas and Grill in Lebanon, Maine.
Google Maps

However, after $173.6 million ($144 million) goes to the government and $51 million (£42 million) to the state in taxes, the winner will take home over a fraction of the full amount - but certainly nothing to lose sleep over.

If the winner had decided to receive the jackpot amount in instalments, they would've received nearer to the full jackpot.

The money would have been handed out to the winner across a period of 29 years, divided up into 30 individual payments.

The lottery winner won't receive anywhere near the jackpot amount.
Mehmet Çetin / Alamy Stock Photo

The owner of Hometown Gas & Grill, Fred Cotreau, has speculated whether or not the lottery winner is local.

He told the Associated Press: "Who knows? Sometimes they come to the store and say thank you, but I’m not going to lose any sleep over it."

Deputy director of Maine Bureau of Alcoholic Beverages & Lottery Operation Michael Boardman confirmed the transfer of the winnings will take place by the end of the week.

Boardman added: "I understand why someone would want to remain anonymous with this kind of money. We wish them well and hope they do good things with it."

A representative of the winner said: "The winner is thoughtfully considering the best uses of the life-changing prize."

Featured Image Credit: REUTERS / Alamy

Topics: US News, Money

Poppy Bilderbeck
Poppy Bilderbeck

Poppy Bilderbeck is a Senior Journalist at LADbible Group. She graduated from The University of Manchester in 2021 with a First in English Literature and Drama, where alongside her studies she was Editor-in-Chief of The Tab Manchester. Poppy is most comfortable when chatting about all things mental health, is proving a drama degree is far from useless by watching and reviewing as many TV shows and films as possible and is such a crisp fanatic the office has been forced to release them in batches.

Advert

Advert

Advert

Choose your content:

2 mins ago
10 mins ago
13 mins ago
an hour ago
  • Kevin Winter/Getty Images
    2 mins ago

    Christopher Nolan has brutal response to Timothée Chalamet about why he cut a lot of his Interstellar scenes

    Timothée Chalamet played Matthew McConaughey's son in the hit 2014 film

    Film & TV
  • YouTube/BBCSport
    10 mins ago

    Olympian pays emotional tribute to parents a year after they were killed when American Airlines plane collided with Black Hawk

    Figure skater Maxim Naumov is representing the US at the 2026 Milan Cortina Olympic Games

    News
  • D3sign/Getty Images
    13 mins ago

    New study reveals terrifying effects excessive drinking for 35 years has on your brain

    Scientists found shocking changes in the brains of 'chronic' alcohol drinkers

    News
  • Florida Department of Corrections
    an hour ago

    Death row inmate has regretful final words before being executed for 1989 murder

    Ronald Heath's execution has been condemned by Floridians for Alternatives to the Death Penalty

    News
  • Lottery winner decides to donate entire prize money to charity
  • Harvard professor says winning $20 million lottery won't make you happy
  • Jeff Bezos announces he is giving away most of his $124 billion fortune
  • Man who won lottery seven times had a specific strategy he always stuck to