The news is hopping with word that the $390 Mega Millions has been won. There’s always a big rush to buy tickets when the jackpot reaches these amazingly high numbers. I never understood why. It seems like the odds of splitting the lottery just goes up when that happens.
And that’s exactly what happened this time. Instead of the $390 that everyone was dreaming about, it will be split into two $195M awards. That’s still a pretty great prize though, right? Because it’s wise to take the money in a lump-sum rather than wait for the payments over the 20 years (and pay taxes on them each year), the value of that is about 100M about 50% of the award. When taxes kick in, it’s suddenly down to some $65M or so.
One could still do quite a lot with $65 Million, but the dream of buying a baseball team is pretty much dead.