What Big Joe would buy with his Powerball winnings (that’s a LOT of cream corn)
There's only one thing left to do after purchasing your tickets for the biggest lottery drawing in New Jersey Powerball history ... daydream about what you will spend your winnings on.
Big Joe did the math when it was still at $800 million — though it's already climbed higher! He figured choosing the lump sum payout of $496 million, the feds would take their cut of 25 percent, leaving about $370 million. Next you have to figure in local state tax and the following year's income tax which typically ends up being an additional 25-30 percent. So the grand total Joe was counting on was a take-home amount in the ballpark of $279 million. Yeah, let's go with that.
Here's how Big Joe plans to spend his $279 million:
#1 - Canned Cream Corn:
$5.58 million dollars or 2% of the winnings will go toward canned cream corn. At an average of $1.89 per can, this works out to be about 2.8 million cans of cream corn. If Big Joe where to eat one can at every meal it would still take 2,573 years to finish them.
#2 - Hellmann's Mayonnaise:
$19.53 million or 7% will go toward Hellmann's Mayo. At a cost of $16.98 per gallon that's roughly 1.1 million gallons of mayo, enough to fill about two Olympic size swimming pools. Big Joe will have to decide... Does he eat or does he swim?
#3 - Butter:
$27.9 million or 10% will go toward butter. At an average of $3 a pound that's 9.3 million pounds worth of butter. To put this into perspective, each pound of butter holds 3,266 kcal of energy or roughly 3.7 kilowatt hours of energy. This would be enough energy to power a house for 3,147 years.
#4 - Sara Lee Pound Cake:
$83.7 million or 30 percent will go toward Sara Lee pound cakes. Yum! At $3.99 per cake, that would yield 20.9 million pound cakes. If Big Joe were to line up the pound cakes end to end, they would stretch 2,632 miles long. That's roughly the distance from the radio station to Las Vegas.
#5 - Steak and Lobster:
$139.5 million or 50 percent will go toward steak and lobster dinners. A 16oz ribeye steak and lobster tail will run you about $67.95 at your classy steakhouse in NJ. That's about 2 million steak and lobster dinners. If Big Joe plans to take out about 10 friends for steak and lobster every night. He would be able to do this for 547 years.
Wait, Big Joe, what about that missing 1%?
Well that will be spent on a nice leather Barcalounger and a 6-pack of diet coke.
Before you write in about our math, we know some of these numbers will be off. Listen we're in radio for a reason.
All kidding aside Big Joe says he would love to give large amounts of his winnings to his favorite charities he's been working with throughout the years here in New Jersey. The Food Bank of Monmouth and Ocean County - Holiday Express - 180 Turning Lives Around - PALS (People with ALS) - The Community YMCA... just to name a few.
Good Luck New Jersey!