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
When a guest brought a precious Charles Rohlfs chair, expert John Sollo confessed that he was nervous to appraise it.
1 hour ago
The guest had no idea about the item being a Tiffany product and being embedded with a rare gem.
21 hours ago
The host was baffled by the goof up that the contestant made between two words.
22 hours ago
Carey showed that he has got the weapon of sarcasm, and he isn't afraid to use it.
23 hours ago
Whatever the host was expecting, it was far away from what the contestant said on national TV.
1 day ago
The guest was surprised to learn more about the item he had actually found on the street for free.
1 day ago
After going through everything on the board, the player left Harvey in hysterics with his answer.
1 day ago
As it so turned out, the weird-looking floor lamp was a piece from a very famous studio.
1 day ago
Most contestants were consistently getting the answers wrong, and Harvey was worried about what was next.
2 days ago
Some claimed that they got the puzzle despite English being their second language.
2 days ago
The letter was written to a columnist in response to a piece taking a swipe at Sinatra.
2 days ago
In a special episode of Celebrity Family Feud, a WWE star decided to go for the one thing Harvey is known for.
3 days ago
Luck was shining for her as she was off to a flying start and won the car with a single card.
3 days ago
Sajak had a witty reply for the contestant who was fanboying over White during the game.
5 days ago
The model said that considering White's age she would also take the offer from Sony.
5 days ago
Sheila won a brand new entertainment unit, complete with an HD plasma TV and mini bar from Howard Miller.
6 days ago
The appraiser disclosed that Yoakum began painting in the 1960s and he created one unique piece of art every single day.
6 days ago
The entrepreneur also managed to get the sharks to taste the vegan alternative meant for pets.
7 days ago
Throughout the game Monica tried to calm her nerves by placing her right hand over her chest.
7 days ago
Harvey later realized that the contestant had a crush on him and they had a moment.
7 days ago