Castro received $997.6 million before taxes on his $2.04 billion jackpot.
The largest Powerball jackpot winner also bought his ticket in California, so after taxes, he received $628.488 million dollars.
California does not allow people who win the Powerball to come forward as a trust which is what led Struyck to be the one to claim the prize publicly for his group.
Lottery prizes: Lump sum vs Annuity
Lottery winners throughout the US must make a tough decision about how they want to claim their prizes.
What is a lump sum payment?
Lottery winners can accept a one-time cash payout.
Although a winner would lose a chunk of their payout to taxes, they would likely lose more over time with annual payouts.
What are annual payments?
Installments are paid out as one immediate payment followed by a series of annual payments.
This guarantees money to come in for years or even decades, but some winners worry tax rates may increase over time.
"To invest better you need to not only choose a good, low-cost, diversified portfolio," said Charles Weeks, the founding partner of Barrister, via USA Today.
"You will also need to make sure you control your emotions in good markets and bad."
TAXES FOR A CAUSE
However, the other people may never come forward now that Struck has so the public may never know how much each person gets from the jackpot.
California also raises money for public schools with tax money received from lottery winnings.
Struyck’s jackpot raised $119.5 million for California public schools.
“Announcing big wins like this gives all of our players the chance to hope and dream that they could be next,” California Lottery Director Harjinder K. Shergill Chima said in a news release.
“But it also gives us an opportunity to shine the spotlight on our terrific mission, which is to generate additional, supplemental funding for public education in California.
“So, it’s students of all ages across the state, who win every day thanks to our players, our retail partners who sell these fun games, and our hard-working staff here at the lottery.
“This is an exciting day for all of us!”
WHO IS THEODORUS STRUYCK
Struyck recently claimed the $1.7 billion jackpot on March 15 which was the second-largest Powerball jackpot in history.
He lives in a small California mountain town with a population of about 3,000 and has been described as a family man who loves his grandchildren.
“He adores his grandchildren,” Struyck’s neighbor Mary Dreier told NBC affiliate KGET.
“He’s just really pleasant to have around.”
“He’s just really pleasant to have around.”
Struyck has lived in a cozy home since 2010 that is worth about $90,000.
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