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Sorry, winning Powerball’s $1.6 billion jackpot won’t make you a billionaire. Here’s why you may end up with $128.5 million instead

CORRECTION: An earlier version of this story calculated the net lottery winnings a person would take home based on California’s tax rate, but California does not tax lottery winnings such as Powerball ...
Morningstar

Sorry, winning Powerball's $1.7 billion jackpot won't make you a billionaire. Here's why you might end up with $136.6 million instead.

Various factors can reduce a lottery prize, from taxes to the cost of a limo ride Wednesday's Powerball drawing has a $1.7 billion jackpot, making it the fourth largest in the game's history. But the ...