It's official: the much-awaited winner of the Mega Millions jackpot prize of over $1 billion has come forward after almost a year. The player, who remains anonymous, bought the ticket at the ShopRite grocery store along Route 66 in the township of Neptune in New Jersey, and chose the one-time lump sum of $537.5 million.

The mystery surrounding the March 2024 Mega Millions jackpot has finally been resolved. After nine months of speculation, the winner of the staggering $1.13 billion prize has stepped forward to claim their life-changing reward.

On the 26th of March of this year, a single ticket matched all six numbers drawn for the Mega Millions jackpot: 7, 11, 22, 29, 38, and the Mega Ball, 4. This feat, accomplished against odds of 1 in over 302.5 million, earned the ticket holder one of the largest lottery prizes in US history.

The winning ticket was sold at the ShopRite grocery and liquor store in Neptune Township, New Jersey. James Carey, executive director of the New Jersey Lottery, presented the store owner with a $30,000 check for selling the winning ticket. ShopRite has generously donated its bonus prize to local food banks, further spreading the jackpot's positive impact on the community.

Winner chooses cash option

Lottery officials announced on Monday that the winner opted for the lump-sum cash option, receiving $537.5 million before taxes. New Jersey allows lottery winners to remain anonymous for prizes exceeding $600, and the individual has chosen to keep their identity private.

Unlike some states that require public disclosure of major lottery winners to maintain transparency, New Jersey amended its lottery laws in 2020, allowing winners to redeem prizes anonymously. The $1.13 billion jackpot winner values privacy and has opted to remain unidentified, the New Jersey Lottery confirmed in a statement.

Financial breakdown of the prize

The decision to take the one-time cash payout, rather than the 30-year annuity, significantly reduces the total award but provides immediate access to the winnings. However, taxes significantly impact the final amount:

  • Federal tax: 37% ($198.8 million deducted)
  • State tax: 10.75% ($57.8 million deducted)

After taxes, the winner's net take-home cash amounts to approximately $280.9 million - about half of the original jackpot. This nine-month delay in claiming the prize suggests the winner took ample time to consult with financial advisors and attorneys to strategically plan for the windfall.

A historic jackpot

At $537.5 million before taxes, the March 2024 Mega Millions cash payout ranks as the ninth-largest lottery prize in US history as well as the sixth-largest in Mega Millions history. The sheer size of the jackpot captivated the country, especially in the weeks following the drawing when no winner had come forward.

The New Jersey law allowing indefinite anonymity for lottery winners further adds to the intrigue surrounding this life-changing event. "This legislation ensures the protection of winners' privacy while still maintaining the integrity of the lottery," said a representative for the New Jersey Lottery.

Mega Millions fever continues

While one life has already been transformed, Mega Millions fever shows no signs of slowing down. The jackpot for the upcoming drawing has climbed to $944 million, with a cash option of $429.4 million. As players rush to purchase tickets for their chance at becoming the next multi-millionaire, the story of the $1.13 billion winner serves as a reminder of the rare but possible dream of striking it rich.