Winning $425 Million Powerball Lottery Ticket Sold in Milpitas

A winning Powerball lottery ticket that hit a $425 million jackpot was sold in Milpitas, according to California lottery officials.

The ticket was purchased at Dixon Landing Chevron, located at 1551 California Circle. It successfully matched the numbers 17, 49, 54, 35, 1 and the Powerball number 34. Lotto officials said the ticket was the only Powerball jackpot winner.

Dixon Landing Chevron will receive a $1 million bonus for selling the winning ticket, officials said.

The South Bay is no stranger to selling jackpot-winning lottery tickets.

On Dec. 17, a small San Jose gift shop sold a $324 million Mega Millions ticket. It was one of two big tickets. The other was sold in Georgia.

The winner, Steve Tran of Northern California, came forward to claim his prize shortly after the new year. He decided to take the cash option: $173 million before federal taxes.

 

"The winner, Steve Tran of Northern California, came forward to claim his prize shortly after the new year. He decided to take the cash option: $173 million before federal taxes"

 

I'd take the lump sum. I'd first set up a trust to claim it under to keep it private, protect me from lawsuits, and keep me from blowing much of it.

Then I'd divide it up. Give a little away to a handful of close family & a couple of very close friends. Then tie all but a couple of million up into various entities. Blow that couple of million, have most in a main investment portfolio, some an income portfolio, a little in a speculative investment portfolio, and also some in a real estate entity I'd use to build a huge mansion and always have $ in for maintenance and upkeep, property taxes & insurance, etc. This separate real estate entity would limit my liability in the event someone got hurt at my home or whatever.

 

Winning a couple hundred million or whatever would basically just give me far more money to invest, a similar level of stable lifetime income without having to invest other people's $ anymore (basically retire to only investing my own money if I chose to), the ability to go from a nice home to a ridiculous dream home, and the ability to live a bit higher standard of living overall for the rest of my days without worrying about it. I'd eat steak every day for breakfast, lunch, and dinner instead of just 1-2 times a week for dinner, and buy a new Maserati every couple of years.

But almost all of it would be tied up in investments.