What could you buy with $1.4 billion? That’s the question everyone wants the chance to answer when Powerball draws its jackpot numbers on Saturday night.
The Powerball jackpot has ballooned to $1.4 billion after no one matched all six Powerball numbers and red Powerball 1 on Wednesday night. That jackpot is the third-largest in Powerball history and fifth largest among U.S. lottery jackpots. The cash value is $643.7 million if the winner chooses a cash lump sum, before taxes. Saturday’s drawing will be 34th in the jackpot run, and the first time in Powerball history that back-to-back jackpot cycles have generated billion-dollar grand prizes. The last jackpot, worth $1.08 billion, was won in California.
Even though financial advisors would never recommend blowing it all in one shot, for fun, let’s look at some things we could buy if we won.
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With a valuation of more than a trillion dollars, Amazon.com would still be out of reach but Jeff Bezos’ new superyacht would not be. Bezos’ $500 million colossal 417-foot Y721 sailing yacht, named the Koru, is known as the largest sailing yacht worldwide. The vessel features a spacious pool on its deck, accommodations for up to 18 guests and 40 crew members, and draws inspiration from Māori art, symbolizing strength, new life, and peace, per Ritzy Charters.
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More than one Lockheed Martin F-35 fighter jet. Each one costs about $177 million, according to publication Aero Time Hub. “The F-35 went down in history as the most expensive weapon system ever,” it wrote. “Operational costs of the newest fifth-generation fighter jet are some of the highest in the world, making the aircraft relatively expensive to buy and maintain.”
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More than one Mercedes-Benz 300 SLR Uhlenhaut Coupe, which Guiness World Records says is the most expensive car in the world. Only 2 models of this car have been created by the German manufacturer, it said. One was sold at a ‘secret auction’ at the manufacturer’s brand museum in Suttgart. Germany for $142,769,250 by Sotheby’s on May 5, 2022.
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Buckingham Palace, the most expensive home in the world isn’t in your future – both because it’s likely not to be on the market any time soon and because it would still be way out of your league at an estimated $4.9 billion. Even the second most expensive home, Antilla, in Mumbai, India would be too rich at $2 billion, but you could easily afford the third most expensive home: Villa Leopolda in the French Riveria. Villa Leopolda was once owned by the king of Belgium and is estimated to be worth $750 million. Edwin Castro, winner of the largest $2.04 billion lottery prize in history, has spent some of his winnings on a Porche and three homes.
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If you have luxurious taste buds, you’ll be able to afford to eat the most expensive food in the world: Almas caviar, which sells for $34,500 per kilogram. It’s really expensive because it’s rare and sourced exclusively from the Iranian Beluga sturgeon (also referred to as the Huso Huso). It’s about $10.000 more per kg than Beluga caviar because it must come from an albino female beluga that’s over 100 years old.
Big spender: $2.04B Powerball winner bought $25M Hollywood dream home and another in his hometown
What financial advisors really would say if you won the Powerball jackpot
It’s fun to fantasize about what you could do with the $1.4 billion jackpot, but for good measure, we have to tell you what financial advisors would really tell you to do.
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Don’t tell anyone! “The first thing is to make copies of the winning ticket and put them all in a safe deposit box,” said Chris Carter, financial advisor and portfolio manager at Kornitzer Capital Management. He also suggests jackpot winners take six months off before cashing the ticket to carefully select a team of specialty advisors (legal, accounting/tax and investment) to build an effective game plan.
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Assemble a team of trusted specialty advisors to help “with the basics, making sure they have a current will, healthcare proxy (power of attorney, or POA), durable POA and an irrevocable trust,” said Tully McCoy, president and chief executive at Great Plains Trust. They’ll also advise you on the pluses and minuses of taking the jackpot in one lump sum or as in installment payments and go over the tax ramifications of each.
For a more detailed look at what to expect and to do if you win, read what financial and tax experts have to say here.
Where can you buy lottery tickets?
Tickets can be purchased in-person at gas stations, convenience stores and grocery stores. Some airport terminals may also sell lottery tickets.
You can also order tickets online through Jackpocket, the official digital lottery courier of the USA TODAY Network, in these U.S. states: Arizona, Arkansas, Colorado, Idaho, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Texas, Washington D.C. and West Virginia. The Jackpocket app allows you to pick your lottery game and numbers, place your order, see your ticket and collect your winnings all using your phone or home computer.
Jackpocket is the official digital lottery courier of the USA TODAY Network. Gannett may earn revenue for audience referrals to Jackpocket services. Must be 18+, 21+ in AZ and 19+ in NE. Not affiliated with any State Lottery. Gambling Problem? Call 1-877-8-HOPE-NY or text HOPENY (467369) (NY); 1-800-327-5050 (MA); 1-877-MYLIMIT (OR); 1-800-GAMBLER (all others). Visit jackpocket.com/tos for full terms and conditions.
This article originally appeared on USA TODAY: What a Powerball jackpot win may buy: yacht, fighter jet, villa, more
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