$1.8 billion Powerball winner could remain anonymous for some time under Arkansas law
CNN
By Toni Odejimi, Rafael Romo, CNN
(CNN) — A lucky Powerball ticket holder in Arkansas has won an estimated $1.8 billion jackpot, the second largest in US lottery history, after matching all six numbers in Monday’s drawing.
The winning ticket, sold at a Murphy USA gas station in Cabot, Arkansas, matched 4, 25, 31, 52, 59, and the red Powerball 19, ending a record-breaking drawing cycle.
The lucky ticket holder has 180 days — about six months — to claim their prize, Sharon Strong, executive director of the Arkansas Lottery, told CNN on Friday.
Most winners opt for the lump sum payment, in this case, $834.9 million before taxes, rather than receiving one payment upfront followed by 29 annual escalating payments.
The win puts the spotlight on the Little Rock suburb of about 27,000 residents, though the winner’s identity may remain a mystery for some time.
Keeping the windfall private
Arkansas is one of a growing number of states that allow lottery winners to remain anonymous. Since 2021, the state has permitted winners of prizes over $500,000 to shield their identities, though those names become public after three years. Winners claiming prizes over $1 million must appear in person at Arkansas’s claim center, according to the Arkansas Scholarship Lottery.
Other states offer similar protections. New Jersey, Georgia, and Arizona have anonymity laws, while Florida allows winners to claim prizes through a blind trust or LLC. In 2023, an entity called Saltines Earnings LLC claimed a $1.6 billion Mega Millions jackpot in Florida, effectively hiding the actual winner’s identity.
The ability to stay anonymous isn’t just about privacy — it can be a matter of safety and financial survival. Winners often face threats and relentless requests for money. Even without outside pressure, the sudden influx of wealth has financially destroyed some jackpot winners who weren’t prepared to manage it.
Advice for navigating sudden wealth
Financial experts recommend winners immediately assemble a team of lawyers and financial advisors experienced with high-net-worth clients. Equally important, they say, is a mental health professional to help manage the psychological upheaval that comes with sudden fortune.
Priority moves include paying off debts like student loans and car payments and making strategic charitable donations for tax deductions.
Strong, Arkansas Lottery executive director, agrees.
“I want that person to visit with their attorney, visit with their financial advisor and when they come to the claim center to claim their winnings, to have a plan in place of how they’re going to handle this life-changing amount of money,” she said.
And it isn’t just the ticket holder who benefits. In Arkansas, stores that sell a winning ticket receive a 5% base commission on the ticket sale, plus a 1% selling commission on the cash prize amount, capped at $50,000, Strong explained.
In this case, the Murphy USA gas station in Cabot will receive a $50,000 prize.
The first drawing in the new Powerball cycle is set for Saturday at 10:59 p.m. ET.
CNN’s Alisha Ebrahimji contributed to this report.
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