The Estimated Mega Millions Annuity Is An Unfathomable Amount Of Money

The Ellwood City Ledger (PA) October 23, 2018

It's an unfathomable amount of money. The estimated annuity payment for Tuesday's Mega Millions jackpot is $1.6 billion - an amount that lottery officials expect to grow before the winning numbers are drawn at 11 p.m. That's more than one dollar for each person who lives in China, the world's most populous country at 1.38 billion.

But in reality, the majority of jackpot winners take a one-time cash payout. For this record-breaking lottery, that's a whopping $905 million - one-hundredth of the 2019 federal budget. Jackpot winnings for United States residents are taxed at 39.4 percent, meaning a winner from Beaver County would walk away with a cool $546.6 million - not too shabby for a $2 investment.

But what could you buy with that money? GateHouse Media did some research into some options to see what that money could get an area winner.

• You could buy one of everything on the Wooden Angel's dinner menu, valued at $905, for 600,000 of your closest friends, with $3.6 million left over to buy wine at the Beaver restaurant.

• A collection of the most expensive properties in Beaver County, including a $1.65 million home along Route 288 in Franklin Township with six bedrooms, six-and-a-half bathrooms, three fireplaces and a four-car garage on 15.26 acres of land. Just a mile down the road, you can buy a $1.59 million home along Forrest Drive with five bedrooms, four-and-a-half bathrooms, a five-car garage, a two-car garage and a one-bedroom, one-bathroom carriage house on 10.25 acres.

• Fund Beaver County government's payroll 19 times over. In 2018, the county expects to pay out $28.3 million in wages and salaries to county employees. The net jackpot payout is almost double the current amount in Beaver County's pension fund.

• The money could buy all 166,140 Beaver County residents a steak salad from Jerry's Curbside every day for almost 15 months.

• The jackpot could fund the construction of 27 cancer centers, based on the cost of Allegheny Health Network's cancer center under construction in Center Township.

• The winner could buy 8.4 million shares of Royal Dutch Shell stock, the publicly traded stock behind Shell Chemicals and its $6 billion ethane cracker plant being built in Potter Township. Unfortunately, the jackpot isn't high enough to build your own cracker plant.

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