Somebody in Illinois is the world’s newest millionaire, by virtue of having the winning ticket in last night’s Powerball drawing, which was for a headline prize of $1.04 billion.
The cash payout would be in the range of $450.4 million, before taxes – after taxes, in Illinois, $315.5 million.
This puts this lucky duck in the top 5 percent of the top 1 percent of net worths.
Get a good lawyer; and tell everybody who asks for a loan, no.
One ticket purchased in Virginia won $100,000 – after taxes: $71,000.
That ticket was bought at Boulevard Stop Mart in Virginia Beach.
No need for the lawyer, but still tell the deadbeats with their hands out, no.
The Virginia Lottery tells us that sales of the tickets that led to last night’s huge jackpot – it took 44 drawings to get to the billion-dollar winner – generated an estimated $19.5 million in profit for the state.
All of that profit goes to our K-12 public schools.
Too much of the money spent on those tickets comes from people who can’t afford it.
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Chris Graham
