$2 Billion Powerball Winner Revealed, Pockets A Mere $600+ Million

  • The winner of the largest ever lottery jackpot described himself as “shocked and ecstatic” as officials revealed his identity, satisfying a law in his state, California.
  • Edwin Castro bought the ticket that won the record-breaking $2.04bn Powerball jackpot on 8 November. Instead of choosing to collect the full prize through an annuity over 29 years, he opted for an immediate lump sum of more than $997.6m – the more common path for people in his position.
  • His winnings are subject to federal taxes, which reduce the payout by more than a third. However, California is one of eight states that do not tax Powerball winnings.