ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Chinese Business Owner Wins $96 Million Lottery Jackpot, Largest In Country’s History

The 28-year-old entrepreneur bought 133 lottery tickets, each for two yuan (approximately 28 US cents).
PUBLISHED FEB 21, 2024
Image Source: Photo by Peaton Hugo | Pexels
Image Source: Photo by Peaton Hugo | Pexels

A 28-year-old man In China has won a lottery jackpot worth 680 million yuan, or around US$96 million. This is the biggest jackpot ever recorded in the country. The lucky winner is from Guizhou province in southwest China, according to the official website of the China Welfare Game, which organized the game. He bought 133 lottery tickets, each for two yuan (approximately 28 US cents).

Surprisingly, he selected the identical set of seven numbers for each ticket. As a result, every single one of his tickets won, and he received a prize of 5.16 million yuan (about US$725,000) for each ticket, according to the local television station. Because of this huge win, the winner is eligible to receive the entire 680 million yuan award. According to an official from the provincial welfare lottery center, the winner claimed his prize on February 7. Under the provisions provided in the Individual Income Tax Law, he will be obligated to pay 20% of his lottery proceeds in taxes, the article stated.

 A customer purchases a Powerball lottery ticket at the Brew Market & Cafe on October 10, 2023 in Austin, Texas. The Powerball jackpot has grown to over $1.7 billion, making it the second largest jackpot in history | Photo by Brandon Bell | Getty Images
Photo by Brandon Bell | Getty Images

The man explained that he couldn't sleep after receiving the wonderful news of his win on his phone one night. He said, "Initially, I couldn't believe it, so I double-checked it multiple times. I couldn't sleep because I was so happy. The man, who owns a small business in Anshun, lost no time in driving to Guiyang, the capital of Guizhou province, to collect his prize money early the next morning. I've been analyzing the numbers that occurred on past winning tickets. I chose some of those and added one of my lucky numbers to bet on," he explained.

"I have been using this set of numbers for quite some time. I intend to share this fantastic news with my family over the Spring Festival holiday. His lottery win of 680 million yuan beat China's previous record of 570 million yuan, which was won by a Beijing resident in 2012. Stories of massive lottery winnings frequently receive tremendous attention on social media sites throughout mainland China

Image Source: Photo by Aykut suvari | Pexels
Image Source: Photo by Aykut suvari | Pexels

In December of last year, a man from eastern Jiangxi province paid 100,000 yuan on lottery tickets and won a massive 200 million yuan reward. This sudden gain raised public skepticism and prompted calls for an investigation. Similarly, a guy from the Guangxi Zhuang autonomous region received criticism after receiving 218 million yuan in 2022. However, he chose not to tell his wife or children about his victory because he feared it would make them comfortable and less motivated to work hard.

MORE ON MARKET REALIST
Harvey, a music lover was taken on a ride by the contestants.
22 minutes ago
Trump warned Canada could face a 100% tariff if it signs a trade agreement with China.
2 days ago
The Secretary of Health and Human Services loves the President for giving him creative liberty.
3 days ago
CEO Brian Moynihan negated the concerns of a K-shaped economy, claiming January spending is up.
3 days ago
Howard Lutnick claimed the U.S. GDP could grow by 6% in the first quarter, thanks to the tariffs.
3 days ago
When Harvey heard how much KC was willing to spend on his anniversary dinner, he was shocked.
3 days ago
The December retail report and the bond market have undermined expectations of strong growth.
4 days ago
Citing Trump's four engines of growth, Peter Navarro says non-inflationary growth is coming.
4 days ago
Economists argue that a disruption in the supply chain could cause a pandemic-like effect in automotive industry
4 days ago
CEO Scott Boatwright had to clarify his alleged focus on the $100K club customers after backlash
4 days ago
Steve Rattner argues that the tariffs have hurt the U.S. but not slowed down the Chinese economy.
4 days ago
While the White House is parading the hefty tax returns, the political payoff may be disappointing
5 days ago
Governor Mike DeWine cautioned that the sales tax could go up to 20% to make up for the lost revenue
5 days ago
Trump reportedly muzzled Consumer Financial Protection Bureau, costing Americans billions in relief
5 days ago
Harvey issued a stern warning to the contestants, once the burn kicked in.
6 days ago
Minute Maid’s existing frozen concentrate range comes in many exciting flavors such as orange juice, lemonade, and more.
Feb 7, 2026
The room burst into laughter as soon as the prize was revealed.
Feb 7, 2026
The Treasury Department has also doubled the standard deduction, impacting 90% of taxpayers.
Feb 7, 2026
Harvey couldn't believe some of the answers that the Peele family came up with.
Feb 7, 2026
Even host Ryan Seacrest admitted the puzzle was tricky to solve with the given letters.
Feb 7, 2026