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New Jersey family of eight wins $429.6 million powerball Jackpot
- Updated: May 14, 2016
New Jersey family wins $429.6 Million Powerball jackpot.
A mother and her seven adult children will split the $429.6 million (USD) Powerball jackpot. The Smith family stepped forward to claim the prize during a news conference at the New Jersey Lottery headquarters in Lawrenceville, New Jersey.
Valerie Arthur says that the ticket was purchased by her 70-year-old mother, Pearlie Smith. The money will be shared among Smith and her seven adult children.
Pearlie Smith spent $6 for two tickets for drawings held last Wednesday and Saturday. Lottery officials say they chose the smaller lump sum payment over the higher valued annuity. So the $6 investment will yield $284 million before taxes. Split eight ways, that’s about $35.5 million apiece.
Arthur says the family has hired attorneys to help them plan and will take a trip to their usual family vacation spot.