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On Tuesday afternoon, the winner of the largest lottery jackpot ever was revealed as a California man who won the November Powerball drawing. His ticket was sold at a gas station near Pasadena and identified him as being from San Bernardino County.
California Lottery officials announce Edwin Castro as the winner of their prize. Although he declined to be identified publicly, he expressed shock and joy upon winning, noting how grateful they are that this lottery helps fund public education.
Lottery officials confirm that Altadena sold the nation's only winning Powerball ticket - for an incredible $2.04 billion jackpot - making it the biggest prize ever awarded!
California Lottery reports the ticket was bought at Joe's Service Center in Altadena. With over two decades of experience under their belt, owner Joseph Chahayed expressed his joy upon learning of the winner being from his community.
He expressed his hope that the winner be someone from his neighborhood, so they can help their neighbors and the state. Additionally, he described himself as a "people person," enjoying getting to know customers while selling gas, snacks and lottery tickets.
According to TMZ, Jose Rivera - who purchased the winning ticket - has filed a lawsuit against Castro and someone believed to have stolen it from him. In a 13-page document, Rivera states that he purchased his ticket on November 7 and it was stolen that same day by Reggie.
Rivera claims that he tried to retrieve his ticket from Reggie but was denied. Additionally, he says Reggie told him the ticket was invalid and even if it were successful, he would give Rivera half of any prize money awarded.
Contrary to many states, the California Lottery does not apply state taxes on Powerball winnings. Instead, these funds are donated directly to public schools for educational use.
The money also benefits California's poorest citizens, who often lack the means to pay their own bills. Estimates by the California Lottery suggest that the state will receive $156.3 million (or 40% of ticket sales), which will go towards covering teacher salaries and purchasing new science lab equipment.
No one claims the prize, however, and the money still goes to California. There, it will be used for teacher salaries, purchasing science lab equipment and replacing outdated textbooks.
Though the Powerball winner has yet to come forward, California's public disclosure laws require him to release his identity to the media if he wishes to claim it. He can either take a lump sum or make annual payments over 30 years.
Lottery officials have now determined that Edwin Castro is legitimate in his claim that his winning $2B Powerball ticket was stolen from him. The winning ticket was sold last November at Joe's Service Center in Altadena, California.
On Saturday night's drawing, the jackpot went unclaimed and rose to an all-time high of $1.9 billion, surpassing its previous record set in 2016.
Though Castro won't leave a billionaire, his winnings are an enormous boon for California public schools, who received an estimated $2 billion from the lottery last fiscal year. That money helps pay for supplemental funding at schools throughout California.
It's noteworthy that Castro chose the lump sum payment option, while most jackpot winners opt for annuities which provide them with a larger payout over time. However, many financial advisers have advised players to choose cash if they're fortunate enough to win a large jackpot.
If you've ever played Powerball or Mega Millions, winning the jackpot can be a life-altering experience. To ensure you make an informed decision about whether to opt for cash or annuity, it's essential that you understand how it works.
No matter which payment method you select, it's wise to keep your ticket for at least a few days just in case it gets lost or another player finds it. Your ticket must be signed by the owner in order for it to be valid and claim your prize.
Powerball website states you can win by matching five numbers and the Powerball number. It is played across 45 states, the District of Columbia, Puerto Rico and U.S. Virgin Islands with odds of winning at 1 in 292.2 million.
Powerball or Mega Millions tickets can be purchased online or from participating retailers. Additionally, you can play the game in person at various locations such as grocery stores and gas stations. The next Powerball drawing takes place Wednesday at 10:59 p.m. ET.
Are you thinking about playing Powerball or Mega Millions? Be sure to visit our lottery page for more details about these games and where to play. Furthermore, sign up for our email newsletter for regular updates on all things lottery related!
In a shocking act of theft that would be unheard-of in Texas, Pankaj Joshi, the lottery clerk at a gas station, stole a winning $1 million Mega Millions ticket and fled. Willis Willis had asked him to check whether any numbers on his ticket were winners before selling it on to someone new, according to an affidavit from a Texas lottery investigator.
Powerball jackpots haven't been won in some time, but the prize pool keeps increasing as more tickets are sold. That's important because it means the jackpot could keep climbing and it also helps fund state public education programs.
Once the jackpot reaches $2 billion, players have two ways to claim it: they can take a lump sum or take an annuity that pays out in 30 graduated payments over 29 years.
No matter how you receive your money, taxes on winnings must be paid. The federal government takes 25 percent and each state's lottery tax may differ.
If you win the jackpot, you must pay federal income tax on any lump sum portion of your reward. Furthermore, if you accept an annuity payment that will be distributed in monthly installments over 29 years, payments to you by the state may also have to be made.
California is one of the biggest states that collects taxes on lottery winnings, and your amount owed depends on both how much you win and where you live.
Castro expressed his shock and delight at having won the Powerball. He plans to donate some of his winnings to charity and use the rest for travel and other pleasure-related expenses.
He plans to give some of his winnings to his cousin, who helped him claim the ticket in 2020. Argueta from Virginia traveled to New York State to collect her cousin's ticket; however, due to COVID-19 restrictions the New York State Gaming Commission did not permit in-person claims for lottery prizes.
The lottery insists a $2B Powerball winner is legitimate despite claims the ticket was stolen. According to Jose Rivera's lawsuit, the winning ticket was taken away from him the day he bought it; additionally, he holds the California Lottery and another defendant responsible for theft.
Though California was the only state that sold a winning ticket, it's essential to remember that lottery officials in each state work diligently to verify claims from anyone claiming they are the lucky winner. This process begins the night of a draw and may take weeks or months to conclude.
Once all states have reported whether someone has matched all their numbers and selected annuity option, lottery staff will begin vetting to verify if their claims are legitimate or an attempt at defrauding people.
Once the vetting process is complete, claimants will receive a certificate verifying their claims and be allowed to proceed. The prize money can then be distributed as either a lump sum or annuity according to their preference.
If a claimant opts for the annuity option, they'll receive 30 graduated payments that increase by 5% annually over 29 years. On the other hand, many jackpot winners opt to receive their prize as a lump sum, offering them a smaller payment but generally seen as safer in the long run.
Many lottery winners opt for a lump sum as the most desirable option, but financial advisers suggest they may want to consider an annuity instead if they plan to invest their prize funds. Plus, an annuity gives the winner more freedom in deciding how they use their money.
Those who opt for an annuity option typically receive more money over their lifetime, but must pay taxes on that amount as well. While tax rates vary by state, a general guideline is that the higher the cash value, the higher the tax rate will be applied.
Furthermore, annuities usually have lower cash values than the advertised jackpot amount. Thus, if a winner opts for this option, they'll have less disposable income to spend on lifestyle expenses but more money saved up for retirement.
On Tuesday, the Supreme Court will hear arguments regarding President Joe Biden's legal authority to cancel $430 billion in student loans. Two cases that challenge this plan will be heard by the justices.
The legal question is whether Congress' 2003 HEROES Act grants executive branch authority to cancel student loans during a national emergency.
In August, President Joe Biden unveiled a debt-relief plan worth billions of dollars that he said could usher in a new era for student loans. But as the Supreme Court considers two lawsuits challenging the program, it remains uncertain whether or not the Biden plan can move forward.
The challengers - six states led by Missouri and two borrowers from Texas - contend that the student loan relief program is illegal. They assert the government exceeded its authority under a 2003 law which permits changes to federal financial aid programs during wartime, military operations or national emergencies.
Republican-led states and groups filed suit, alleging the Biden administration violated its own rules by failing to solicit public feedback prior to unveiling the plan. In October, a trial-level judge ruled that the program was illegal.
On Wednesday, however, the Justice Department asserted that two of the challenges lacked standing to challenge the plan. Furthermore, President Biden has asked the Supreme Court to lift a temporary stay of execution of the program so it can move forward as planned.
A coalition of six Republican-led states, led by Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina, contends the program will negatively affect their state's student loan services and tax revenues. Furthermore, they contend it will cause damage to investments involving student loans.
Another group, the Brown County Taxpayers Association, has argued that this program exceeds the authority granted to it under the Higher Education Relief Opportunities for Students (HEROES) Act, which permits changes to financial aid programs during times of national emergencies. The government maintains that the coronavirus pandemic qualifies as such an event and that changes such as one-time debt forgiveness will help keep default rates close to where they were before the pandemic began.
This case presents a challenge, and the court must decide how to balance its decision with other federal laws. It must take into account how debt relief affects employment opportunities and investment prospects for Americans.
If the court rules in favor of the plaintiffs, it could wipe away some of America's $1.7 trillion student loan portfolio. But if it rules against them, debt continues to pile up and many more people struggle to repay their loans.
President Joe Biden has proposed a plan that would wipe away up to $20,000 in student loan debt for millions of people. But before it can become law, the Supreme Court must first review two lawsuits brought by conservative-leaning states.
First, the court must determine whether borrowers have "standing" to bring their claims or the legal right to sue. And it must determine if Education Secretary Miguel Cardona can use a law that permits him to cancel federal loans during certain times of national emergency or war.
One group of six Republican-led states that is challenging the Biden administration is asserting that its authority to cancel millions of debts under this statutory framework has been exceeded. They claim the program would cause harm to their states financially and reduce tax revenues.
Second, the court will assess various factors such as whether borrowers have been granted relief and how much is being forgiven. Most importantly, however, judges will pay close attention to the personal experiences of those challenging the debt forgiveness program.
The justices are likely to draw from their own backgrounds and personal experiences, especially those who have spent their careers on the Supreme Court. Justice Clarence Thomas in particular has written about how debt has affected him throughout his life - having grown up in poverty and having to repay his college loans himself.
Even after debt cancellation, most borrowers will still owe a significant amount in federal student loans and may find it difficult to repay them. Until Congress and the administration take policy actions that help manage this remaining debt load, many people may struggle financially even after debt cancellation.
In August, President Biden unveiled his plan to forgive billions of dollars in student loan debt. While many Americans were alarmed at the prospect of government interference in borrowers' finances, this initiative - which will wipe away up to $10,000 for those earning less than $125,000 annually and $250,000 for married couples - is part of a series of policies implemented by Biden administration that aim to provide relief to students who have been defrauded by for-profit colleges or whose schools must close due to economic hardship.
One of the key decisions that will decide whether this plan moves forward is whether the Supreme Court rules on two lawsuits challenging it; one brought by a coalition of Republican-led states and another from Texas borrowers. The outcome of these arguments will determine if this plan moves forward or not.
In its brief, the Justice Department asserted that student loan forgiveness program is legal under 2003 law known as the Higher Education Relief Opportunities Act (HEROES), which grants authority to make changes to federal student aid programs during national emergencies like a pandemic to protect borrowers from harm. On the other hand, plaintiffs contend that this crisis serves only to fulfill campaign promises to cancel millions of borrowers' debts.
Tuesday, February 28, the Supreme Court will hear arguments on Biden's plan. While they are likely to vote against it, there is little they can do about it. The administration could attempt a different strategy with different legal authority but that would take months of legal work.
On the other hand, justices may be inclined to approve Biden's plan if they cannot reach an agreement on another one. A crucial decision will be whether President Biden has demonstrated his dedication to debt forgiveness and taken necessary steps for its approval.
At this stage, the justices will also consider the effects of the plan on borrowers' lives. According to the Biden administration, millions of American families will benefit from this initiative by being able to purchase homes, save for retirement or start small businesses by freeing up financial resources so they can invest in their children and grandchildren.
The student debt forgiveness plan that President Biden championed is on hold while the Supreme Court considers two legal challenges to it. Arguments will take place in late February or early March, with a ruling due by June.
The plan would forgive billions in federal student loan debt through debt cancellation, forbearance and new income-driven repayment programs. Under strict "static" assumptions, debt cancellation alone is projected to cost $519 billion over 10 years; however, with behavioral ("non-static") assumptions and other changes included, the new Income-driven Repayment (IDR) program could cost as much as $605 billion over that same 10-year budget window.
Borrowers with outstanding student loans may find it difficult to make large purchases, reach life objectives or save for emergencies due to lack of funds. It could even prevent people from saving for future education or retirement plans.
President Biden's plan is designed for students who have been making payments on their debt but are now having trouble repaying the full amount owed. Under this program, those making $125,000 or less annually or $250,000 married couples can have up to $20,000 of their loans canceled.
The debt cancellation program is expected to benefit millions of borrowers. The Biden administration prioritizes low- and middle-income borrowers, such as Black students who received Pell Grants to cover school costs.
Though many expect the program to provide relief to many borrowers, some economists skepticize its economic effects. Although providing substantial assistance over 10 years may spur some consumer spending growth similar to what stimulus checks were given out during the illness' peak.
Bank of America Research believes the plan won't have a major impact on the economy, as it won't alter spending patterns. In fact, Bank of America Research expects consumer spending to slow as borrowers resume monthly debt service payments.
Finally, the only way to truly impact the economy is by addressing the causes of student debt. The government can do this by increasing grant aid, controlling higher education costs and implementing stronger institutional accountability measures.
Tom Sizemore, 61, is in a coma after suffering a brain aneurysm earlier this month. His family has been informed there is no further hope for the actor and they are making end-of-life decisions.
The Detroit-born actor has starred in movies like Saving Private Ryan, Heat and Pearl Harbor. Additionally, he has made appearances on numerous TV shows like China Beach and the 2017 Twin Peaks revival.
Tom Sizemore was taken to the hospital earlier this month after collapsing in his Los Angeles home due to a brain aneurysm. Since then, he's been in a coma and remains critical condition at Providence Saint Joseph Medical Center in Burbank. Doctors are monitoring his condition closely; doctors anticipate making a decision regarding end-of-life care within the coming weeks, according to Variety.
The 61-year-old actor is best known for his role as Technical Sergeant Mike Horvath in Steven Spielberg's 1998 war drama Saving Private Ryan. He also featured in Natural Born Killers, True Romance and Heat.
In this World War II story, Captain Miller (Tom Hanks) leads a team of soldiers on an daring mission to find and rescue Private Ryan - the last brother from the Niland family who perished in battle. The battle that follows is a visual assault of realism. The movie is renowned for its depiction of D-Day landing at Omaha Beach - an intense 20 minute sequence packed with intense combat.
But Saving Private Ryan is more than just about bloodshed; there's also an undercurrent of moral significance beneath all the action. Like many Spielberg war films, director Spielberg strives to get us to consider what matters in the midst of all this brutality and violence.
Saving Private Ryan's most memorable scenes don't just focus on D-Day; rather, they explore a range of other war-related events as well. It contains scenes full of death and destruction - one scene so shocking viewers wept uncontrollably with emotion. Omaha Beach in particular showcases an epic wave of enemy troops firing at Allied forces' landing craft with devastating results in terms of casualties.
No doubt, Saving Private Ryan is an incredible piece of cinema. Nominated for five Academy Awards - including Best Picture - the film earned itself four wins.
Although this isn't the first time a movie about a World War II battle has been turned into a blockbuster, it still holds up when watched today. The depiction of D-Day landing is stunning but also makes one consider both the cost of war and what it means to be an American.
More importantly, the film is packed with powerful images that will resonate with audiences around the world. It serves as a poignant reminder of war's human costs and consequences, and serves as an effective cautionary tale against future mass killings.
No wonder then that this film has become such a major success with audiences. The story of Private Ryan's rescue serves as an inspiring reminder of the value of individual sacrifice, making it essential viewing for anyone wanting to gain insight into what war really entails.
Sizemore is well-known for his role as Saving Private Ryan, and has been a successful movie star for years. He's starred in films such as Point Break, True Romance and Heat, along with collaborations with Michael Mann, Martin Scorsese and Ridley Scott. Despite facing difficult obstacles throughout the years, Sizemore has managed to remain positive and thrived in the spotlight.
Doctors have informed Tom Sizemore's family that there is no hope for recovery after the Black Hawk Down star suffered a brain aneurysm earlier this month. The 61-year-old actor fell at his Los Angeles home on February 18 and was discovered unconscious around 2 a.m. that same morning.
An aneurysm is a weakening of an artery in the brain that bulges into a balloon filled with blood and puts pressure on nearby nerves or tissues. When this occurs, people often experience intense headaches, vomiting and seizures - potentially leading to coma or death.
A ruptured aneurysm is a more serious medical condition and it can lead to an ischaemic stroke if nearby blood vessels go into spasm and constrict, restricting oxygen-rich blood flow to the brain. The haemorrhage that results may cause permanent brain damage as well as coma-like states; which is why doctors often recommend end of life care for people suffering from this condition.
According to TMZ, Sizemore's manager Charles Lago issued a statement on Monday in which doctors informed his family there is no longer any hope and they must consider making end-of-life decisions for the actor. The family is now making up their minds and will issue a statement once these decisions have been made, according to Lago.
Sizemore has earned notoriety for his battle against drug addiction and numerous legal troubles. He was arrested multiple times for drug usage and driving under the influence of narcotics; furthermore, he was convicted of domestic violence against his former girlfriend.
Sizemore has been in a coma since February 18 due to a brain aneurysm. His family has confirmed they are making an end-of-life decision for the actor and ask for privacy during this trying time.
Thankfully, the actor has an adoring fan base around the world who have sent their condolences and prayers his way during this trying time. He's been surrounded by friends, family members and colleagues who have stood by him throughout this ordeal.
Robert DeNiro and Val Kilmer have also expressed their admiration for Sizemore on social media. They posted a nostalgic photo of themselves hanging out on set during the 1995 film Heat, which featured an all-star cast including DeNiro, Kilmer, Danny Trejo, and Jon Voight.
He is currently in the ICU of Providence Saint Joseph Medical Center in Los Angeles, where he was taken by paramedics on February 18. Unfortunately, his condition hasn't improved over the last week and an end-of-life decision will likely be made soon regarding his care.
Tom Sizemore, 61 years old and best known for his roles in Saving Private Ryan and Black Hawk Down, collapsed at his home in Los Angeles Saturday night after suffering a brain aneurysm. Emergency medical services responded to the scene and transported him to a hospital where he is listed in critical condition by manager Charles Lago.
The Detroit-born actor has starred in a number of films and TV shows, including Point Break (1991), True Romance (1993), Natural Born Killers (1994) and Heat (1995). Additionally, he voiced Sonny Forelli, the crime boss character from Grand Theft Auto: Vice City from the hit video game series Grand Theft Auto.
He's had a turbulent career, having to contend with legal troubles and substance abuse problems. In 2003, he was found guilty of domestic violence and jailed twice for drug charges. Additionally, in 2003 he was accused of groping a female actress on the set of Born Killers; however, that case was later dismissed.
Sizemore has managed to remain in the public eye despite his struggles. He's been a guest on Celebrity Rehab and has openly discussed his addiction issues.
His debut on-screen appearance came in Oliver Stone's 1989 film Born on the Fourth of July. He went on to star in ABC series China Beach and have roles in war films like Pearl Harbor, Black Hawk Down, and Heat.
His early career was marked by his drug and violence problems. He was arrested multiple times for drug-related offenses and driving while under the influence of narcotics; additionally, he was found guilty of domestic violence against then-girlfriend Heidi Fleiss.
About three years ago, actor Sam Worthington began recovering from his substance abuse problems. After going through rehab and hosting a hit USA Network show called Shooting Sizemore about his efforts to become sober after an assault charge against his then-girlfriend, the show became immensely popular.
He then found success in the acting world, appearing on shows such as Twin Peaks and landing his first major film role in Bringing Out the Dead as a supporting role. Additionally, he's actively participated in his community by volunteering his time to assist others.
Sizemore was able to gain the trust of his fans despite his issues, and is currently set to star in Passenger 57 with Hugh Grant and Elizabeth Hurley. This movie is expected to hit theaters next month.
Sizemore has a passion for cooking in addition to his acting career. In 2013, he released his own cookbook and also revealed the details of his affair with Hurley in an open book.
Sizemore had a difficult start to his career, but his work ethic and determination helped him come back stronger. His impressive list of credits includes Natural Born Killers, Saving Private Ryan, Black Hawk Down and even an appearance in Twin Peaks: Revisited!