What was the payout on the $2 billion?

Edwin Castro, who came forward last month to collect the record-setting lottery prize, just spent $25.5 million on a new house in Hollywood Hills. Castro, who chose to collect the money as a lump sum of about $997.6 million before taxes, bought the modern mansion under a limited liability company, records show.

How much did the $2 billion lottery winner get?

Castro took the cash value of his winnings, totaling $997.6 million, state officials said in a press release. Rivera's lawsuit names California, the state's lottery commission, Castro and Reggie as defendants.

How much did the lottery winner get?

His identity was revealed by officials in a ceremony at lottery headquarters in Sacramento. Castro, who chose to take a lump sum of $997.6 million, said he's excited about what this means for California students.

Who won 2.04 billion Powerball?

The sole winner of the record-breaking Powerball jackpot worth $2.04 billion was identified Tuesday during a press conference by lottery officials as Edwin Castro.

How much did Edwin Castro win?

Edwin Castro, winner of the historic $2.04bn Powerball jackpot in November, recently spent $25.5m buying a five-bedroom, six-bathroom mansion in Los Angeles's glitzy Hollywood Hills, the real estate publication Dirt and the city's Times newspaper first reported.

Winner of record $2 billion Powerball jackpot identified

How much will Edwin Castro get?

'Shocked and ecstatic'

By choosing the lump sum, Castro received $997.6 million, but that's before taxes. USA TODAY estimated the winner of the jackpot would probably be left with $628.5 million after taxes, assuming no other deductions.

How much does Castro get paid?

Miguel Castro signed a 1 year / $3,500,000 contract with the Arizona Diamondbacks, including $3,500,000 guaranteed, and an annual average salary of $3,500,000. In 2023, Castro will earn a base salary of $3,500,000, while carrying a total salary of $3,500,000.

What was the lump sum for 2.04 billion?

$2.04 Billion Powerball Winner Revealed

Castro reportedly opted for the lump sum payment of $997.6 million and in a statement provided to lottery officials, expressed shock over having won the massive jackpot.

How much did the person who won the Powerball actually get?

He chose the lump-sum payment, which amounts to $997.6 million, state lottery Deputy Director and spokesperson Carolyn Becker said. Most take that option, she said. Winners also have an option to take the prize in 30 payments over 29 years, which is a larger amount but is spread out over time.

How much cash did the 2.04 billion Powerball pay?

On Valentine's Day, the California Lottery announced Edwin Castro won what is the largest-ever lottery jackpot, and he opted for the lump sum payout of $997.6 million. Castro was not present for the lottery's announcement that day. The winning ticket was purchased at Joe's Service Center on Woodbury Road in Altadena.

Is it better to take lump sum or payout Powerball?

Taking your winnings in a lump sum lowers the total amount you receive and can lead to expensive tax consequences. Taking your lottery winnings as an annuity over time will result in total payments closer to the advertised jackpot.

What is the largest lottery payout in US history?

1. $2.04 billion. The largest lottery jackpot to date, a Powerball drawing, was won on Nov. 7, 2022.

Why is so much taken from lottery winnings?

The withholding rate for federal income tax is based, in part, on a claimant's resident status. The Lottery is required to withhold federal taxes of 24% for U.S.

Do you have to keep your ticket for Second Chance California?

While every non-winning ticket is eligible for the second chance drawing, you need to submit the losing ticket to play.

Who won the 25 million dollar home in the Powerball?

Edwin Castro, the winner of the biggest Powerball jackpot in history, has bought a $25.5 million mansion in Hollywood Hills. The winner of the largest prize that has been awarded in the history of the lottery in the United States made his first major purchase -- and it is a doozy.

What happens if you win 5 numbers in Powerball?

5 numbers - $1 million

To get the $1 million prize you'll need to match the numbers on the five white balls drawn without the Powerball and beat the 11,688,053 to 1 odds.

What is the first thing you should do if you win the lottery?

How much taxes deducted from Powerball?

Before you see a dollar of lottery winnings, the IRS will take 25%. Up to an additional 13% could be withheld in state and local taxes, depending on where you live. Still, you'll probably owe more when taxes are due, since the top federal tax rate is 37%.

Did anyone claim $2 million Powerball?

According to Powerball, 22 players who guessed all five white balls in the Nov. 7 drawing won $1 million, and one player in Florida won $2 million for guessing the five white balls and a special Power Play option.

Why is the cash value of lottery less?

When you take a lump-sum payment, it is less than the amount just reported as the jackpot. Taxes and discounts are taken out of the payment. You can take your winnings all at once or invest them on your own to help make more money later.

How much is a million dollars after taxes?

In practice, there is a 24 percent federal withholding of the gross prize, plus the remaining tax, based on your filing status. For example, if your gross prize is $1,000,000, you need to pay $334,072 in total taxes ($240,000 federal withholding, plus the remaining $94,072 for single filing status in 2021).

How much is a lump sum payment on $1 million dollars?

The amount which will be received today with the lump sum option is $600,000. Given information: Amount of the lottery = $1,000,000. Tax rate = 40%

How much do Cubans get paid?

Average Wages in Cuba increased to 3830 CUP/Month (148.738 USD/Month) in 2021.

How rich is Castro1021?

Based on his YouTube and Twitch followings, Castro1021 net worth is about $150k. He mostly makes his income through streaming and ad revenue.

How much does Castro make monthly?

Earnings as a Youtuber

Every month, it is estimated that Castro makes around $7.8k to $9.3k a month, which comes up to be around $93k to $111.6k a year.