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As the Powerball tops the $1 billion mark once again, keep in mind that winning the lottery comes with a lot of questions. Will it change how my friends treat me? How much will the government take? Should I take the one-time payout? And, perhaps most importantly, how the heck do I spend this newfound wealth?<\/p>\n
As for your friends, that really comes down to how wise you\u2019ve been in choosing them. The government? The Feds will yoink 24% away from you before you can blink\u2014and state rates will depend on where you live.<\/p>\n
Lump sum or annuity? Most financial advisors suggest the annuity, since few people are ready to handle that sum of money without warning.<\/p>\n
Ah, but spending\u2026 That\u2019s where it gets fun.<\/p>\n
Of course, we\u2019ve all heard the advice: Hold off on major purchases and be smart with your money. Then, we see people like Edwin Castro<\/a>, who won the $2 billion pick in 2022 and quickly began buying up luxury real estate<\/a>, purchasing a $25.5 million home in Hollywood Hills; a $4 million place near the gas station where he bought the winning ticket; and a $47 million house in another part of Los Angeles (along with a vintage Porsche 911).<\/p>\n That\u2019s small potatoes, though.<\/p>\n Let\u2019s assume you ignore the finance wonks and opt for the payout of $595 million. That leaves $452 million after Uncle Sam takes his first bite. We will, for purposes of this experiment, assume you live somewhere that doesn\u2019t have state taxes.<\/p>\n Here\u2019s what you can add to your portfolio:<\/p>\n A private island or two:<\/strong>\u00a0Rangyai Island<\/a>, near Phuket, Thailand, has been on the market for a while. This a 110-acre land mass with fresh water, an electric generator and, most importantly, mobile service has an asking price of $160 million. If you\u2019d like something closer to home, Pumpkin Key, a 26-acre island off the Miami coast is just $75 million (a $20 million price cut from a few years ago). It comes with a three-bedroom house, two caretakers\u2019 cottages, and a dockmaster\u2019s apartment.<\/p>\n Take your own crew to space:<\/strong>\u00a0A trip to Vegas or Paris? That\u2019s common man stuff. Tickets on Jeff Bezos\u2019 Blue Origin go for about $1.25 million apiece (at least, that\u2019s what MoonDAO paid to ride the suborbital rocket). You could even all become frequent flyers.<\/p>\n Some really nice beachfront property:<\/strong>\u00a0Sorry\u2026 \u201cThe One,\u201d the 21-bedroom, 49-bath Bel Air megamansion that\u00a0sold in 2022<\/a>\u00a0for $141 million. But fortunately, on the other side of the country, a nine-acre compound in Naples, Fla. is available for $295 million<\/a>. It\u2019s located on the tip of Gordon Pointe in the Port Royal neighborhood of Naples.<\/p>\n A personal concert by your favorite band(s):<\/strong>\u00a0Bypass Ticketmaster and get your own personalized front-row concert seat. Reportedly, $6 million<\/a>\u00a0will get you the Weeknd, Ariana Grande, or Bruno Mars. Coldplay charges about $1.5 million, as does Post Malone. No word on what Taylor Swift would demand, but \u2026 hey, you\u2019ve got a few hundred million.<\/p>\n A pro sports team:<\/strong>\u00a0Oakland A\u2019s fans hoping to keep the team in California, I\u2019m afraid even winning this lottery wouldn\u2019t help. And forget about buying an NFL team. But you might be able to invest in a minor league baseball team. Step one is finding a team affiliated with an MLB team you love, then make an offer. Last year, sports and media giant Endeavor sold nine teams to private equity firm Silver Lake\u00a0for $280 million<\/a>.<\/p>\n Pizza for the rest of your life (and several lives after that<\/strong>):<\/strong>\u00a0Your millions haven\u2019t changed you! You still love a good Pizza Hut pizza! You can skip the coupons, so a large Meat Lover\u2019s pizza could cost you about $23 each. You can now afford 19.6 million, enough to devour a full one every day for 53,841 years. (Not factored into those costs? Your cardiologist bills.)<\/p>\n<\/div>\nSubscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up<\/a> for free.<\/div>\n