When it comes to growing your wealth, investing is considered the most tested way to make it happen. But there’s one more exciting way on how to transform yourself from a ‘nobody’ into ‘somebody’: buy a lottery ticket and win.
Yes, the odds of winning the jackpot are slim, with a 1 in 292.2 million chance of winning the US Powerball. Some even say that you have better odds of being hit by lighting rather than taking home the lottery jackpot.
The numbers are not in our favor. But anything can happen in life, and that includes hitting the lottery jackpot. A few individuals have become instant multimillionaires thanks to the jackpots offered by the lottery.
For lottery winners, there are two general options on how to receive the fortune: one, as an annuity or allotments over a set number of years and two, to get it as a lump sum payment. Whatever option is selected, the lives of these lottery winners changed overnight. Although all winnings are subject to state taxes, the winnings are still substantial to transform ordinary lives into extraordinary ones.
So, who are the biggest lottery winners in the world on record?
Here are a few success stories in the lottery that can inspire you to buy a ticket and play the game.
$1.586 billion in Powerball- The story of the Robinsons, Kaltschmidt and Acosta
What would you do if you win a share of the $1.586 billion in Powerball jackpot? Would you get it as a lump-sum payment or as an annuity? These were just two of the many questions that swirled in the head of the three winners of the January 13, 2016 draw of the US Powerball. This was the biggest jackpot on record, and certainly created a buzz and interest on the lottery.
According to published reports, the winners were Maureen Smith and David Kaltschmidt in Florida, John and Lisa Robinson in Tennessee, and Marvin and Mae Acosta in California.
Upon learning about their fortune, they have an immediate decision to make: get a lump sum payment of $327.8 million or $533 million before taxes as an annuity. For the two holders of the winning ticket, the choice is obvious- to get a lump sum payment. In the words of John Robinson of Tennessee, they’re not guaranteed tomorrow, so enjoying the fortune now makes sense. Smith and Kaltschmidt, they just want to enjoy their new-found fortune by getting massages, upgrading the truck and retire while enjoying the good life.
You might be asking what happens to the third ticket holder. Well, they remained anonymous and no word was heard about them. After a few months, they released a statement saying that they’re glad that they were the ones chosen to receive a ‘rare gift’. Now, that’s a great way to remain grounded even with millions at your disposal!
Mavis L. Wanczyk of Chicopee, Massachusetts and the $758.7 million
We’re all working for our families to bring food to the table. If you win the lottery today, would you still go to work the next day?
For Mavis L. Wanczyk of Chicopee, Massachusetts, the choice was obvious as soon as she received the news that she’s the holder of the winning ticket for $758.7 million in August 2017. She immediately contacted her employer at the Mercy Medical Center and informed them that she’s no longer coming to work after 32 years of loyal service. For this Powerball jackpot, Mavis opted for the lump-sum payment of $480.5 million before taxes.
3 Winning Tickets for the Mega Millions Draw Worth $656 million
In March 2012, Mega Millions minted not one but three new multimillionaires.
The holder of the first ticket was Merle and Patricia Butler who collected $218.6 million. The other two winners of the lucky tickets were not named in the media for two different reasons. For the lucky players based in Maryland, the three employees decided to follow a state law that allows lottery winners to remain anonymous. In claiming their share of the prize pool, the three school employees used the name ‘The Three Amigos’. The other winning ticket holder is from Kansas who decided to remain anonymous. For many lottery winners, staying anonymous may be one of the biggest decisions that they can make. The lottery jackpot often comes with a prize, and loss of privacy is one of them.
These three stories only prove one thing: the odds of winning the lottery may not be in our favor, but it can still happen. And for these lucky lottery players, they don’t just win the lottery jackpot. They managed to collect the biggest lottery jackpots in the world.