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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Personal FinanceLottery

The Mega Millions jackpot grows to $910 million just days after a Powerball player won $1.08 billion

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July 28, 2023, 10:06 AM ET
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Cashier Rosemary Probst sells tickets for the Mega Millions lottery at the Save 'N Time convenience store in Harahan, La., Wednesday, July 26, 2023. AP Photo/Gerald Herbert
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Lottery players will have another shot at a huge Mega Millions jackpot Friday night and a chance to break a stretch of more than three months without a big winner of the game.

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The estimated $910 million prize has been building since someone last matched all six numbers and won the jackpot April 18. Since then, there have been 28 straight drawings without a jackpot winner.

The jackpot is now the eighth-largest ever in the U.S. It comes a little over a week after someone in Los Angeles won a $1.08 billion Powerball prize that ranked as the sixth-largest in U.S. history. It’s still a mystery who won that prize.

Lottery jackpots grow so large because the odds of winning are so small. For Mega Millions, the odds of winning the jackpot are about 1 in 302.6 million.

The $910 million prize would be for a sole winner choosing to be paid through an annuity with annual payments over 30 years. Jackpot winners almost always opt for a lump sum payment, which for Friday night’s drawing would be an estimated $464.2 million.

Winners also would be subject to federal taxes, while many states also tax lottery winnings.

Mega Millions is played in 45 states, Washington, D.C., and the U.S. Virgin Islands.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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