So, who’s the newest "billionaire" in the U.S.? Someone in Michigan. A lucky person there has won the billion-dollar Mega Millions jackpot – and they have a year to claim their massive prize.
The Mega Millions folks say there was only one winner of Friday's jackpot, which was the second largest in Mega Millions history and third largest in U.S. history. But ten other people matched five of the six winning numbers, to win at least a million dollars.
The winning numbers were 4, 26, 42, 50 and 60, with the Mega Ball 24.
Now for the nitty gritty of the numbers. If the winner opts for an immediate lump-sum cash payout, they’ll net $739.6 million — before taxes. The top federal tax rate is 37% on 2021 income of more than $523,600...which means the winner will shell out about $273.6-million. The IRS will automatically take 24% of the winnings, and the winner will owe the rest at tax time. But then comes Michigan taking their cut – about 4.25%. So in the end, the winner pockets about $305.1-million.