Hydro Junkie
Well-Known Member
- Joined
- Oct 2, 2006
- Messages
- 5,736
Can someone explain to me why someone would give away around A QUARTER BILLION DOLLARS????????????????????
The reason I ask is over the past couple of months, a 20 year old kid won the Megamillions drawing for a total of $451 Million.
The winner of the last Powerball is a 47 year old man in New Jersey that won $455 Million.
Last summer, a Massachusetts lady won a $758.7 Million Powerball drawing.
What all three of these people have in common is they took the cash pay out. That means they literally gave away roughly $225.5 Million, $227.5 Million and $379.35 Million, respectively. This means that they took home:
$281.9 Million
$324.6 Million
$336 Million
Had they taken the money over the long term, they would have taken home a minimum of:
$338,250,000 or $11,275,000 per year (a gain of $56 million)
$341,250,000 or $11,375,000 per year (a gain of almost $15 million)
$569,025,000 or $18,967,500 per year (a gain of over $220 million)
All the above numbers are based on $25,000 per million won, after taxes, as put out by the Washington State Lottery Office several years ago. Obviously, tax laws have changed but, at the same time, why give away that much money when you don't have to?
The reason I ask is over the past couple of months, a 20 year old kid won the Megamillions drawing for a total of $451 Million.
The winner of the last Powerball is a 47 year old man in New Jersey that won $455 Million.
Last summer, a Massachusetts lady won a $758.7 Million Powerball drawing.
What all three of these people have in common is they took the cash pay out. That means they literally gave away roughly $225.5 Million, $227.5 Million and $379.35 Million, respectively. This means that they took home:
$281.9 Million
$324.6 Million
$336 Million
Had they taken the money over the long term, they would have taken home a minimum of:
$338,250,000 or $11,275,000 per year (a gain of $56 million)
$341,250,000 or $11,375,000 per year (a gain of almost $15 million)
$569,025,000 or $18,967,500 per year (a gain of over $220 million)
All the above numbers are based on $25,000 per million won, after taxes, as put out by the Washington State Lottery Office several years ago. Obviously, tax laws have changed but, at the same time, why give away that much money when you don't have to?