The 5 Biggest Lottery Jackpots Ever — What Winners Actually Took Home

Powerball and Mega Millions' 5 biggest jackpots in history, ranked by the actual lump-sum cash payout — with what the winner really kept after tax as a US resident, and as a foreign (nonresident alien) winner from Korea, China, or India.

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The all-time top 5

Ranked by the actual cash lump sum the winner chose, not the advertised annuity headline number. US-resident figures below use a flat 37% top federal rate plus each draw's actual state tax (California and Florida don't tax lottery winnings; the Missouri/Texas and California/Florida/Tennessee splits use an average across US states as a stand-in for the exact split).

Why does the cash payout ratio jump around so much?

The lump sum vs. advertised-jackpot ratio depends mainly on prevailing interest rates at the time (it's ranged from about 44% to 62% across these five draws). It's not really about the jackpot size itself — it's a present-value calculation, and rates were simply higher or lower at each drawing.

Would a foreign winner take home more or less?

It depends on the country. A foreign (nonresident alien) winner gets a flat 30% withheld by the US at the border regardless of bracket — which by itself is actually a lower rate than the 37% a US resident pays on a jackpot this size. But foreign winners typically still owe tax back in their home country on top of that, only partly offset by a foreign tax credit. A China resident ends up ahead of everyone here: China's flat 20% rate on lottery winnings is already below the 30% the US withholds, so the credit fully absorbs it and nothing more is owed. An India resident owes a bit more, since India's rate (with surcharge and cess) works out to roughly 39%, just above the US withholding. A Korea resident owes the most on top, since Korea taxes it as ordinary income at progressive rates up to 45% — this calculator was originally built around exactly that question. Try the calculator with your own country's numbers to see where you'd land.

Frequently asked questions

How is this ranking calculated?

Ranked by the actual lump-sum cash payout winners chose to take, not the advertised annuity jackpot. Only amounts confirmed by official lottery statements or news reporting are used.

Would a foreign winner take home more or less than a US resident?

A foreign (nonresident alien) winner gets a flat 30% withheld by the US regardless of bracket, which is actually lower than the 37% a US resident pays on a jackpot this size. But foreign winners typically also owe tax back in their home country on top of that, only partly offset by a foreign tax credit — so once home-country tax is added in, a foreign winner very often ends up keeping less than a US resident would.

Why do China and India residents keep more or less than Korea residents?

China taxes lottery winnings as incidental income at a flat 20%, and that's already lower than the 30% the US withholds up front — so the foreign tax credit wipes out any additional China tax owed, and a China resident keeps the most of the four. India applies a flat 30% rate plus a surcharge and cess that push the effective rate to about 39%, slightly above the US withholding, so an India resident owes a bit more on top and keeps less than a China resident but more than a Korea resident (who faces Korea's progressive income tax up to 45%).

Is this list kept up to date?

Yes, it's updated whenever a new historic jackpot is drawn. The calculator page also tracks recently checked jackpot amounts in real time.

This page is an informational simulator only and does not broker or facilitate lottery ticket purchases. Actual tax owed depends on individual circumstances and the exchange rate/tax law in effect at filing time — consult a qualified tax professional.