The Herald of Everett, Washington
HeraldNet on Facebook HeraldNet on Twitter HeraldNet RSS feeds HeraldNet Pinterest HeraldNet Google Plus HeraldNet Youtube
HeraldNet Newsletters  Newsletters: Sign up | Manage  Green editions icon Green editions

Calendar


HeraldNet Headlines
HeraldNet Newsletter Delivered to your inbox each week.
Published: Friday, December 7, 2012, 5:24 p.m.

2nd huge Powerball winner comes forward

He opts to take the pretax cash option of $192 million.

  • Lottery officials announce the second winning ticket on Friday in Scottsdale, Ariz.

    AP

    Lottery officials announce the second winning ticket on Friday in Scottsdale, Ariz.

PHOENIX — Lottery officials announced Friday that a married man in his 30s from a wealthy Phoenix suburb has claimed his half of the $587.5 million Powerball jackpot, deciding to collect the winnings now and not next year because of the nation's looming fiscal cliff.
The man decided to remain anonymous after he bought $10 worth of tickets and kept the winning slip in the visor of his car overnight before realizing he was a multimillionaire.
He gave $20 to the cashier of a Fountain Hills convenience store, and the clerk nudged him to spend the entire amount on tickets. He declined the offer.
After the man and his wife learned of their good fortune, the husband pulled together a team of financial advisers and decided to take all of his share this month to avoid potentially higher taxes in 2013, said Karen Bach, a lottery official.
"He did have concern with the uncertainty with the fiscal cliff in 2013," Bach said, referring to the federal fiscal situation that could result in higher income tax rates.
The man and his lawyer met with lottery officials Friday, and he opted to take the pretax cash option of $192 million. Lottery officials said his wife owns half the prize because Arizona is a community property state.
"He and his wife couldn't believe it," Bach said. "They checked the numbers over and over again — absolutely shocked."
Bach said the man is smart and wants to take time to make a solid financial plan and set up a charitable entity to aid causes that he and his wife support. Lottery officials say the man told them he enjoys his job and has no immediate plans to quit.
Lotto officials wouldn't say what he did for a living.
A mechanic and his wife, Mark and Cindy Hill, of Dearborn, Mo., already have claimed their half of the multistate Powerball prize.
The jackpot was the second-largest in U.S. history and set off a nationwide buying frenzy. At one point, tickets were selling at nearly 130,000 a minute.
Before the Nov. 28 drawing, the jackpot had rolled over 16 consecutive times without any winners. In a Mega Millions drawing in March, three ticket buyers shared a $656 million jackpot, the largest lottery payout of all time.
Lottery officials said the Arizona couple moved from Pennsylvania a year ago. While in Pennsylvania, the couple regularly played the lottery but had done so only twice since moving to Arizona, Bach said.
After realizing he had won, the man and his wife spent the weekend "trying to recover from the shock," Bach said.

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

HeraldNet highlights

Nothing but corn
Nothing but corn: Everett Mall business grew from a kernel of an idea
History at every turn
History at every turn: Website finds stories behind county's historic corners
Cold-weather playtime
Cold-weather playtime: Beyond skis & snowboards: 11 ways to have fun in winter
The real bottom line
The real bottom line: Millions spent in Oso, but generosity can't be measured
SnoCoSocial