The winner of Friday night’s big $1. 28 billion Mega Millions lottery, if there is only one winner, will be richer than several of the country’s most recognizable celebrities and artists, some of whom have worked for years, if decades, to gather their own wealth. .
Among those who will be defeated through the Mega Millionaire: singer Beyoncé (estimated net worth of $450 million), tennis champions Serena Williams ($260 million) and Maria Sharapova ($220 million), actress Sandra Bullock ($225 million) and mother Kardashian. Kris Jenner ($230 million).
But the winner won’t be a billionaire, despite the announced jackpot. Most lottery winners opt for the payment of a lump sum, which on Friday at noon Eastern Time, according to Mega Millions, $747. 2 million (their “money option”). Then the winner has to pay federal taxes on the hideout, after which it would end up with around $470 million (depending on the state where the winner lives, there may be more state taxes).
With a net worth of $470 million, the winner would be even richer than Dolly Parton, who has played and risen through the ranks during a career spanning more than five decades. Forbes estimates it is worth $375 million. (These net values come from the Forbes 2022 list of America’s richest self-taught women, published in June. )He hosted an exhibition of hours of sunlight on television for a quarter of a century and now runs the series “Judy Justice” on Amazon’s Freevee.
But anyone, at least for now, wouldn’t live up to Taylor Swift ($570 million), Madonna ($575 million) or Kylie Jenner ($600 million).
One thing happened as the jackpot grew: the likelihood of more than one winner increased, as my colleague William explains here. And who knows how many other people (friends and family) will show up at the winner’s door waiting for a percentage of the win. There have been lawsuits related to oral settlements on lottery winners, meaning that even single winners would possibly have to pay a percentage.
If the winner makes the decision to accept the annual payment – 30 installments for 29 years – the calculation is adjusted a bit. The annual payment would be about $42. 7 million before taxes and $26. 9 million after federal taxes, according to USAMega. com calculations. the winner does with that cash every year: invests it, provides a large part of it, spends a lot daily – will it be its net worth after 3 decades?they don’t have to pay state taxes), they would have a little over $800 million after 30 years.
That would make them richer than the top celebrities on Forbes’ list of self-made women. But all of them: Oprah Winfrey ($2. 6 billion), Kim Kardashian ($1. 8 billion) and Rihanna ($1. 4 billion) are all richer than that now.