A Mega Millions lottery winner is selling his California mountain estate at a $19 million price cut. Take a look at the massive property, which comes with a 17-seat movie theater and a buffalo ranch. (2024)

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A Mega Millions lottery winner is selling his California mountain estate at a $19 million price cut. Take a look at the massive property, which comes with a 17-seat movie theater and a buffalo ranch.? ›

A lottery winner is selling his massive California mountain estate at more than a $19 million price cut. Originally listed for $26 million in 2018, the Eagle Crest Estate is now up for auction with Concierge Auctions at a minimum price of $6.9 million, the auction house told Business Insider.

After winning $180 million dollars playing the lottery, Rick Knudsen did what anyone else would do — bought a mountaintop estate in Southern California.

After winning the $180 million jackpot in August 2014, Rick Knudsen purchased 845 acres of land on a mountain in Oak Glen, California. He said at the time that he and his family had lived in their home for 23 years, and though they promised to stay humble after winning, they couldn't wait to purchase a new home.

Rick Knudsen won the $180 million California Mega Millions jackpot in 2014, quit his job, and bought the house — which was still under construction — for $5.5 million, according to The Wall Street Journal. He went on to buy an adjacent buffalo ranch and another swath of land, piecing together 845 acres in total.

The most money a couple on My Lottery Dream Home has won is Rick and Lorie, who appeared in the first episode of Season 1.

If you win a Mega Millions® jackpot, you will choose how to be paid: Cash Option or Annual Payout. Prize claim parameters vary from state to state. Contact your Mega Millions lottery for detailed information. Annuity option: The Mega Millions annuity is paid out as one immediate payment followed by 29 annual payments.

The Southern California winner of last summer's $1.08 billion Powerball jackpot has been revealed on Friday. The winning ticket was purchased in July 2023 by Yanira Alvarez at the Las Palmitas Mini Market located at 1205 Wall Street in downtown Los Angeles near the Skid Row neighborhood.

11. $536 Million (Indiana) On July 8, 2016, an Indiana couple won this mega jackpot after buying 5 Quick Pick tickets on a road trip. The winning family was able to remain anonymous by accepting their prize through a law firm in the state.

In November of 2022, Edwin Castro of Altadena struck it rich on a $2.04 billion Powerball ticket – the largest lottery prize in U.S. history. That famous ticket was sold at Joe's Service Center, meaning owner Joe Chahayed also cashed in for a million bucks.

The largest Powerball jackpot in US history was won by Edwin Castro in Southern California, totaling $2.04 billion. The ticket was sold in Nov. 2022 at Joe's Service Center in an unincorporated community near Los Angeles. Here is a list of the largest jackpots won in the US and the state where the tickets were sold.

How much taxes are deducted from the 1.13 billion lottery winner? ›

Most jackpot winners go with the lump sum, which means they get the “cash value” of that jackpot. For Tuesday's Mega Millions $1.13 billion jackpot, the cash value was $537.5 million. Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains.

Key Facts. If a winner emerges in the next draw, they can choose either to receive the $522 million prize spread across 30 annual payouts, or a cash prize of $241.4 million—often the popular pick. If chosen, the lump sum amount will drop to $183.5 million after a mandatory federal tax withholding of 24% is applied.

Mega Millions lottery jackpot payout

For example, the recent $1.13 billion million jackpot winners will share approximately $537.5 million if they choose the lump sum option, which most people do. The lump sum payout may drop further for some winners after paying their tax bill (more on that below).