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Lottery winner of $425.3 millions plans to travel, start charity group

Original post made on Apr 1, 2014

A man who won a $425.3 million Powerball jackpot from a
single-play ticket decided to claim his prize in Sacramento today, April Fool's Day, nearly six weeks later, California Lottery officials said.

Read the full story here Web Link posted Tuesday, April 1, 2014, 8:11 PM

Comments (6)

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Posted by AlecWest
a resident of another community
on Apr 1, 2014 at 9:56 pm

Hate to rain on his parade. But according to 2014 tax rates as published on the Forbes Magazine site, Uncle Sam is going to want a substantial slice of that $242.2 million dollar payout - namely 39.6% of everything over $406,750 plus $118,188.75. And after the I.R.S. takes its cut, the California Department of Revenue is going to want its cut. Also, if he's unlucky enough to live in certain California counties that have "county" income tax, they'll want their cut, too.

A lot of hands are going out for their piece of his pie. So before starting any charitable foundation, I hope he deals with his tax obligations first.

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Posted by Wondering
a resident of Stoneridge
on Apr 2, 2014 at 8:44 am

Let me win, I don't mind paying the taxes!

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Posted by Ck
a resident of Another Pleasanton neighborhood
on Apr 2, 2014 at 10:03 am

He sounds like a good guy with a level head on his shoulders. I hope he enjoys his newly found wealth and uses it to do a lot of good.

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Posted by Julia
a resident of another community
on Apr 2, 2014 at 11:12 am

By the way CK, this is NOT wealth...It is being rich...there is a very big difference.

Thanks for listening, Julia Pardini from Alamo.

PS...Dear are right...send me the money and I will pay the blood suckers all there taxes...or maybe get a very good tax expert and shelter as much as possible...

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Posted by Cholo
a resident of Livermore
on Apr 2, 2014 at 11:21 am there a jealous bug on this blog...tee hee...i sure hope he enjoys his new WEALTH! HOORAY!

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Posted by Don Key
a resident of Downtown
on Apr 3, 2014 at 7:00 am

Taxes seem a little on the light side - I didn't think "rich" people paid taxes???

Sorry, but further commenting on this topic has been closed.

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