Mega Millions Jackpot: What Do You Do With That Much Cash?
Word came this week that the winner of a record-breaking Mega Millions jackpot has finally come forward to claim an extraordinary prize.
The mystery winner of a Mega Millions lottery ticket definitely kept everyone waiting before coming forward.
The winner, who has so far opted to remain anonymous, was the ridiculously lucky holder of a ticket worth $1.5 billion — yes, billion…with a B! The drawing was held in October and the winner had until April 21 to claim the windfall.
But even with well more than a month left, the fact that no one had, prior to this week, made a claim led to wild speculation about the winner’s fate: Was he or she dead? Did he or she lose the ticket?
The winner finally came forward and has opted for a cash option, which means a one-time payout of about $887 million. Yes, that’s million with an M!
What do you do with that much money?
The easy answer is, of course, whatever you want to. But if you think about it, that’s an outrageous amount of cash.
I remember an episode of The Twilight Zone in which characters complained about the conduct of a millionaire. To further accentuate the villain’s riches, a character admonishes the behavior of a man who’s “a millionaire three times over.”
In the early 1960s, someone with $3 million was really, really rich. In the world of reality shows where winning a million bucks today is almost anti-climactic.
But $887 million? No matter how you cut it, that’s huge!
If you were to go to downtown Charleston and buy one of the most expensive homes listed on Zillow at the moment, you’d shell out $13.9 million. That’d be a drop in the bucket of that jackpot. For a five bedroom, six bathroom house in the historic district, you’d still have more than $870 million left.
Think of the most expensive car you’d ever want to touch. Then think of how many you could buy with $800+ million!
A couple of years ago, when Powerball was approaching an $800 million jackpot, Fox Business suggested you could buy a private island…but even that would only set you back $160 million. That’d still leave you with $700 million!
But you have to come up with absurdly extravagant things to go through that amount of money.
If you live modestly and chose to do good deeds with that money, think about how many people you could feed at the local food bank. Think of how many school lunches you could cover for kids that can’t afford them. Think of how many homeless people you could help. Or think of how many bulletproof vests you could buy for our first responders.
It boggles the mind.
I wish someone would send me just $1 million. I’d do my best to make them proud with how long I make that amount last.