The Biggest Lottery Winners in US History

The United States has produced the largest lottery jackpots in the world, and the winners behind them represent some of the most extraordinary financial events in American history. Some handled their windfalls well. Others did not. All of them faced challenges that most people never anticipate when imagining what they would do with a billion dollars.

Here is a look at the biggest jackpots in US lottery history, what the winners actually walked away with after taxes, and what happened next.

#1: $2.04 Billion — Powerball, November 2022

The largest lottery jackpot in US history was a Powerball drawing on November 7, 2022. The winning ticket was sold at a Joe's Service Center gas station in Altadena, California. The winner, later identified as Edwin Castro, took the lump sum cash option of approximately $997.6 million before taxes.

After federal withholding of 37 percent, the estimated after-tax payout was around $628 million. California does not tax lottery winnings at the state level, which saved Castro an additional amount that would have exceeded $100 million in a high-tax state like New York.

Castro kept a relatively low profile following the win, purchasing several high-end properties in California. The jackpot had rolled over 40 consecutive times before his ticket matched all six numbers.

#2: $1.602 Billion — Mega Millions, August 2023

A single winning ticket sold in Neptune Beach, Florida claimed the second-largest jackpot in US history in August 2023. The winner chose to remain anonymous by claiming through a trust, which Florida law allowed in this case through a legal entity arrangement.

The lump sum cash value was approximately $794 million before taxes. Florida has no state income tax, meaning the winner owed only federal taxes, leaving an estimated after-tax payout of roughly $500 million.

#3: $1.537 Billion — Mega Millions, October 2018

A ticket sold in Simpsonville, South Carolina produced the third-largest jackpot in US history. The winner, who remains anonymous to this day (South Carolina allows full anonymity), took the lump sum of approximately $878 million before taxes. South Carolina's state income tax rate of 7 percent applied, reducing the after-tax amount to roughly $480 million.

The winner hired an attorney and claimed through a trust, successfully maintaining complete anonymity for years. Their identity has never been publicly confirmed, making this one of the most private major jackpot wins in American history.

#4: $1.35 Billion — Mega Millions, January 2023

A ticket sold in Lonoke, Maine produced a $1.35 billion jackpot in January 2023. The winner, identified as Joseph Chahayed through lottery records, took the lump sum of approximately $723.5 million before taxes. Maine's state income tax rate of 7.15 percent applied, and after federal taxes the estimated take-home was roughly $440 million.

#5: $1.337 Billion — Mega Millions, July 2023

A ticket sold in Des Plaines, Illinois claimed a $1.337 billion jackpot in July 2023. The winner chose to remain anonymous by claiming through a trust, which Illinois allows. The lump sum was approximately $718 million before taxes. Illinois's flat 4.95 percent state income tax applied on top of federal taxes.

The Cautionary Tale: Jack Whittaker

No examination of major lottery winners is complete without Jack Whittaker. In December 2002, Whittaker won a $315 million Powerball jackpot in West Virginia, taking a lump sum of $170 million before taxes. He was already a wealthy construction company owner, and he was publicly identified as the winner.

What followed became one of the most documented stories of lottery misfortune. Whittaker was robbed multiple times, once of $545,000 in cash that was in his car. He faced more than 400 lawsuits. His granddaughter, Brandi, who he had planned to set up for life, died of a drug overdose at 17, shortly after his friend and associate was also found dead. Whittaker later said the prize had been a curse and that he wished he had torn up the ticket.

His story is frequently cited by financial advisors who work with sudden wealth clients as an example of how the absence of planning, privacy, and professional guidance can unravel even the most life-changing financial event.

What the Biggest Winners Have in Common

Looking across the largest jackpot wins in US history, a few patterns emerge among the winners who have navigated their prizes successfully:

• They waited before claiming, often weeks or months, to assemble a professional team
• They claimed through a trust or legal entity where their state allowed it
• They took the lump sum in most cases, preferring control over the 30-year annuity
• They limited public appearances and media engagement after winning
• They worked with attorneys, CPAs, and financial advisors before spending anything significant

How Much Do Billion-Dollar Winners Actually Keep?

The consistent pattern across all major jackpots is that the after-tax lump sum lands at roughly 30 to 40 percent of the advertised jackpot, depending on the winner's state. On a $1 billion jackpot, the lump sum cash value is approximately $600 million, and after federal taxes at 37 percent, the winner takes home around $378 million before any state taxes.

Winners in states with no lottery tax, like Florida, California, and Texas, keep significantly more than winners in high-tax states like New York or New Jersey. On a billion-dollar jackpot, that difference can exceed $60 million in state taxes alone.

Use our calculator to see exactly what a jackpot of any size would mean for your specific state after all taxes are applied.