Jackpot! Club claims $842 million Powerball prize in Grand Blanc

The Breakfast Club, a group of three winners who won an $842 million Powerball jackpot in the New Year's Day drawing, chose to receive their winnings as a lump sum of $305 million after taxes3. They purchased the winning ticket at the Food Castle convenience store in Grand Blanc Township, Michigan. By selecting the lump sum cash option, they reduced the $842 million jackpot to about $425 million. The 24% federal income tax withholding totaled about $102 million, while Michigan's 4.25% income tax totaled $18 million.

The Breakfast Club members, who won the $842.4 million Powerball jackpot, have several plans for their winnings. They plan to retire earlier than expected, purchase a second home in Florida, travel more, help their immediate families, and give back to their community. They also intend to continue living in Mid-Michigan and spend their winters in Florida. Additionally, they plan to share some of their winnings with nonprofits close to their hearts.