Topline
Two people in Illinois who won an astounding $1.337 billion Mega Millions jackpot in July will split a $780.5 million pre-tax cash lump sum, eight weeks after the historic drawing—the second largest in Mega Millions history and the nation’s third-largest jackpot ever.
Two people in Illinois claimed a historic $1.337 billion Mega Millions Jackpot on Wednesday.
Key Facts
The two individuals who won the jackpot on one ticket chose to remain anonymous, Illinois lottery officials told the Associated Press, although ABC7 Chicago reported the ticket was purchased at a Speedway gas station in Des Plaines, Illinois.
They won the Mega Millions on July 29, after the jackpot had grown for 29 consecutive draws over three months without the six-number combination needed to win.
Lottery winners have the option to take a cash lump sum before taxes or take the full prize under a tax payment plan spanning 30 annual payments of $42.6 million, on average.
In this case, the winners are set to receive $470.7 million after federal lottery withholdings and additional taxes—they would have made $26.9 million per year if they had taken the annual payments route.
The Speedway that sold the ticket will receive a $500,000 cash bonus, WREG reported.
Big Number
$1.586 billion. That’s how much three people in California, Florida and Tennessee won in a January 2016 Powerball jackpot—the biggest ever recorded. The only other jackpot bigger than the $1.337 billion claimed on Wednesday came in October 2018, when one winner in South Carolina won a $1.537 jackpot in the Mega Millions.
What To Watch For
Mega Millions estimates the next jackpot will total $301 million, with a cash option of $160.3 million. The next drawing is scheduled for 11 p.m. Friday.
Further Reading
Here’s How Much The $1 Billion Mega Millions Winner Will Actually Take Home After Taxes (Forbes)
Someone Won The $1.28 Billion Mega Millions Jackpot—Here’s How Much They’ll Take Home After Taxes (Forbes)
Illinois Lottery: 2 claim $1.337B Mega Millions jackpot (Associated Press)
Source: https://www.forbes.com/sites/brianbushard/2022/09/21/mega-millions-two-finally-claim-historic-1337-billion-jackpot-in-illinois/