News


$425.3-million lottery winner plans to travel, start charity group

Bought winning ticket in Milpitas, but won't say where he lives

A man who won a $425.3-million Powerball jackpot from a

single-play ticket he bought in Milpitas six weeks ago claimed his prize in Sacramento Tuesday but won't say where he lives.

B. Raymond "Ray" Buxton came forward to claim the prize at state lottery headquarters while wearing a t-shirt with a picture of "Star Wars" film character Yoda and the message "Luck of the Jedi I Have," the lottery office reported.

Buxton, who chose to accept a lump sum of $242.2 million of the $425.3 million he won, said he first plans to do some traveling and then create an organization to help people in need.

"I'm going to enjoy my new job setting up a charitable foundation focused on areas of pediatric health, child hunger and education," Buxton said in a statement released by the state lottery.

Buxton, a retiree from an undisclosed residence in Northern

California, said that on Feb. 17 he was getting lunch at a Subway franchise located inside the Dixon Landing Chevron store at 1551 California Circle in Milpitas.

He had earlier bought a Powerball ticket after noticing the

growing jackpot but while in the store, he opted to play again and purchased a single Quick Pick ticket for $2.

That ticket ultimately hit when the numbers 17, 49, 54, 35, 1 and the Powerball number 34 were drawn on Feb. 19.

"`Unbelievable' is all I could muster," Buxton said he remembers

saying upon learning he had won.

"I sat in front of the computer for hours in disbelief, frequently

checking and rechecking the numbers across multiple sources," he said. "Once the initial shock passed, I couldn't sleep for days."

Buxton said he was so concerned about his winning ticket that he did not tell anyone the news at first.

After validating the numbers on the state lottery's website, he

read the Winner's Handbook on the website, "put a plan in motion" and did some research.

"It took over a week to solidify legal and financial

representation," he said.

With an advisory team in place, he then decided to take the cash

option of $242.2 million, which is before taxes, lottery officials said.

Buxton's $425.3 million win was the largest-ever jackpot won in

California and sixth largest in U.S. history, according to the state lottery.

Jeff Burbank, Bay City News

— Bay City News Service

Comments

 +   Like this comment
Posted by AlecWest
a resident of another community
on Apr 1, 2014 at 9:56 pm

Hate to rain on his parade. But according to 2014 tax rates as published on the Forbes Magazine site, Uncle Sam is going to want a substantial slice of that $242.2 million dollar payout - namely 39.6% of everything over $406,750 plus $118,188.75. And after the I.R.S. takes its cut, the California Department of Revenue is going to want its cut. Also, if he's unlucky enough to live in certain California counties that have "county" income tax, they'll want their cut, too.

A lot of hands are going out for their piece of his pie. So before starting any charitable foundation, I hope he deals with his tax obligations first.


 +   Like this comment
Posted by Wondering
a resident of Stoneridge
on Apr 2, 2014 at 8:44 am

Let me win, I don't mind paying the taxes!


 +   Like this comment
Posted by Ck
a resident of Another Pleasanton neighborhood
on Apr 2, 2014 at 10:03 am

He sounds like a good guy with a level head on his shoulders. I hope he enjoys his newly found wealth and uses it to do a lot of good.


 +   Like this comment
Posted by Julia
a resident of another community
on Apr 2, 2014 at 11:12 am

By the way CK, this is NOT wealth...It is being rich...there is a very big difference.

Thanks for listening, Julia Pardini from Alamo.

PS...Dear Wondering...you are right...send me the money and I will pay the blood suckers all there taxes...or maybe get a very good tax expert and shelter as much as possible...


 +   Like this comment
Posted by Cholo
a resident of Livermore
on Apr 2, 2014 at 11:21 am

hmmmmmmmmm...is there a jealous bug on this blog...tee hee...i sure hope he enjoys his new WEALTH! HOORAY!


 +   Like this comment
Posted by Don Key
a resident of Downtown
on Apr 3, 2014 at 7:00 am

Taxes seem a little on the light side - I didn't think "rich" people paid taxes???


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