The winner of Powerball’s $1.8 billion jackpot on Christmas Eve has opted to take the lump-sum payment.
The Arkansas Scholarship Lottery said the winner has claimed a one-time cash prize of $834.9 million before taxes. After federal and state tax withholdings, the winner will initially receive about $600 million. The final take-home amount, after all taxes are paid, is expected to be in the high $400 million range.
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“Everyone was anxiously waiting for the winner to step forward, but we are happy they took the time to seek legal counsel and financial advice first, as we recommended. We are thrilled that the winner is from Arkansas!” said ASL Executive Director Sharon Strong.
The lucky winner has decided to remain anonymous.
The $1.8 billion Powerball jackpot was the second-largest jackpot in both Powerball and U.S. lottery history. It grew to that amount after no winners in 46 consecutive drawings.
The individual who won the jackpot is not the only one walking away with money. The gas station, Murphy USA 7879, will receive a $50,000 commission for selling the winning ticket.
