The American lottery, a true institution across the Atlantic, regularly generates astronomical jackpots thanks to its progressive accumulation system. When no winner wins the prize pool, it increases considerably in the next drawing, sometimes creating prizes exceeding a billion dollars. These colossal amounts attract millions of players, fueling a cycle that propels some lucky people to instant wealth, radically transforming their lives in seconds.
A fortune that almost disappeared
The latest example of these dizzying gains concerns a player from New Jersey who won a jackpot of $1.13 billion in the Mega Millions last March. The most surprising thing in this story remains the behavior of the winner, who waited almost ten months before coming forward to claim his dues. This unusual wait even challenged James Careyexecutive director of the lottery New Jerseywho publicly expressed his astonishment at this situation.
The underside of a historic gain
The lucky ticket, purchased in a ShopRite from Monmouth County to Neptune Township, wore the winning combination: 07, 11, 22, 29, 38, accompanied by the Gold Mega Ball number 04 and the multiplier 02. Faced with this colossal sum, the winner opted for a immediate payment of $537 million, waiving the option of payment spread over thirty years. This decision, although significantly reducing the final amount, allows him to have his funds immediately available.
The tax implications of such a fortune
The new millionaire, protected by a law of New Jersey allowing him to maintain his anonymity, will nevertheless have to deal with a less pleasant reality: more than 35% of his earnings will be withheld in local and federal taxes. This considerable tax drain reminds us that even the greatest fortunes do not escape tax obligations. Despite these withdrawals, the winner will keep a sufficient sum to radically transform their existence, thus joining the very closed circle of millionaires created by the American lottery.
