ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

California convenience store owner reacts to selling winning $1 billion Powerball jackpot: 'Surprised'

The owner of a Los Angeles, California, convenience store was surprised after he learned that his store had sold the winning Powerball ticket for the $1.08 billion jackpot.

The owner of a Los Angeles convenience store received a check for $1 million after selling the winning Powerball ticket worth $1.08 billion.

Under the Powerball rules in California, the retailer that sells the winning ticket earns a 0.5% share of the jackpot with the reward capped at $1 million. With the jackpot being the third largest in Powerball's history, the owner of the Golden State store collected $1 million.

On Thursday morning, the owner of Las Palmitas Mini Market, Navor Herrera, received the check during a press conference announcing the store's lucky lottery ticket sale.

Herrera told FOX 11 he's owned the mini mart for seven years and plans to take his four children on a vacation, while investing the remainder of the prize money. When he arrived at work Thursday morning, he was greeted with the news that he was a millionaire.

POWERBALL PLAYER IN CALIFORNIA HITS $1.08 BILLION JACKPOT, LARGEST EVER

"Surprised," Herrera told FOX 11 when he was asked about the win.

Meanwhile, the winner of the Powerball jackpot has yet to come forward, but Powerball officials said that the person has an entire year to come forward.

NORTH CAROLINA MOM AND SON BOTH WIN BIG LOTTERY LESS THAN ONE MONTH APART: ‘WE ARE BLESSED’ 

At Herrera's check presentation, a Powerball official said they will be vetting the winner to make sure it's the right person.

"We have to spend time vetting the winner to make sure it's the right person, integrity and transparency are extremely important to us," the official said during a press conference in front of Las Palmitas. "We will probably not know [the winner] for months and months."

The winning numbers for Wednesday night's game were: 7, 10, 11, 13, 24 with a Powerball of 24. The Power Play multiplier was 2X. 

Only two other previous Powerball jackpots have topped the current one in terms of size, the lottery said.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Powerball gave out its largest-ever grand prize in 2022, when the jackpot reached $2.04 billion. In 2016, someone won the second-largest jackpot at $1.586 billion, according to the lottery.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.