When the newest Mega Millions jackpot winner bought her/his/their ticket at the Kroger in Novi last week, that purchase wasn’t just one in a million. It was one in 302.5 million, to be exact. Those are the odds of matching all five numbers and the Mega Ball.
Regardless, there was a winning ticket sold for the record-breaking $1 billion grand prize. It’s a new benchmark for several reasons, a couple of which pertain to lottery tickets in the Great Lakes State.
Details on the Mega Millions jackpot winner in MI
The MI Lottery has not yet revealed the identity of the winner. Michigan law does not allow individuals to remain anonymous when claiming prizes, although it does give winners up to a year to put in a claim.
So while the winner may wait for some of the media frenzy to subside, eventually the entire country will know who won the third-largest lottery prize in US history. If that person opts to take the lump sum, as is most often the case, the check will be for $530 million after taxes.
The win is remarkable for more reasons than just that amount, however. The 36 roll increases that took place between the last jackpot winner and Friday are the most in Mega Millions history. Additionally, this jackpot is the second-biggest ever to be secured with the purchase of a single ticket.
No Michigan lottery retailer has ever sold a ticket worth more, too. In fact, the previous high for a MI lottery ticket was $337 million. It’s a big win for that Kroger in Novi as well, as selling the ticket means the store will get a commission of $50,000 when the winner comes forward.
If that winner is wise, he/she/they won’t claim the prize until after hiring an account, attorney, and financial advisor. Even the cash sum is a life-changing amount for not only that individual but other people as well.
What could $530 million get you in 2021?
As one would expect, $530 million can buy a lot of things. Or something really big. For example, the winner could take the entire sum and buy most of the Detroit Red Wings, currently valued at $775 million. The NHL may not agree to a sale, but that’s an example of what this kind of money can obtain.
Other, more fun examples include:
- More than 2,300 2021 Ferrari Romas
- The initial franchise fee to open up over 11,000 new McDonald’s restaurants in the US, currently sitting at $45,000 apiece
- Nearly 19 million shares of Spirit Airlines stock, which would probably make the person the new sole owner
The more likely scenario (and the most financially sound) for the lucky winner is investing a huge portion of the prize over the long term. And probably a really nice vacation in the short term.
Ironically enough, since Mega Millions tickets cost $2 each, it wouldn’t be enough to buy enough tickets to guarantee a win of the next jackpot. That’s probably for the better, however. It could be a long time before that prize reaches this amount again.