Cheng “Charlie” Saephan, who was born in Laos and immigrated to the U.S. in 1994, plans to split the money with a friend and find himself a “good doctor.”
One of the winners of a $1.3 billion Powerball jackpot this month is an immigrant from Laos who has had cancer for eight years and had his latest chemotherapy treatment last week.
Cheng “Charlie” Saephan, 46, of Portland, told a news conference held by the Oregon Lottery on Monday that he and his 37-year-old wife, Duanpen, would split the prize evenly with a friend. Laiza Chao, 55, of the Portland suburb of Milwaukie, had chipped in $100 to buy a batch of tickets with them. They are taking a lump sum payment, $422 million after taxes.
Almost a billion in taxes? Ahaha wow.
No. The lump sum payment option is $600 million-ish. You would only get the $1.3 billion (pre-tax) if you take the annuity option.
How long would it take to get that?
i believe it is 20 years and goes away if you die. I may misremembering though.
I should have clicked the article before instead of relying on the not-so-short summary above. Not bad, but yes, not much point for him with his situation.
Federal government takes about 25% in tax.
Oregon takes 8%, more than half of which goes to education
As far as I can tell, $1.3B was the total amount split between several winners. Even if not, I’d be completely fine with paying a billion in taxes and still having much more left over than I could possibly spend 🤷😄
I can’t speak for anyone else, but I’d love to be able to afford to pay a billion dollars in taxes. May I be cursed with such a burden.