Weeks after purchasing the winning ticket, two people have finally claimed the $1.34 billion Mega Millions jackpot,
the third-largest in U.S. history, the Illinois Lottery announced Wednesday.
The two winners are a partnership, having agreed to split the prize
before the winning ticket was purchased at a Speedway gas station outside Chicago.
Despite the reduced payout and upfront tax costs, a lump sum payment is the most commonly chosen payout.
It's also recommended by "Shark Tank" investor Kevin O'Leary: "More money up front means more money to invest and grow" over time, he says.
That's because with the lump sum option, the $780.5 million payout would be subject to a 37% federal income tax, the highest bracket for top earners
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