Takes cash option, netting $47 million after taxes
RALEIGH, N.C. — Retired Asheville Fire Department employee Frank Griffin is $47 million richer, but he has few grand plans for the money. He mainly wants to spend more time with his wife.
"I may get us a new house later, but I really want to spend more time with her and my grandchildren," Griffin said Monday at a news conference where he was introduced as the sole winner of the $141 million Powerball lottery jackpot.
Griffin choose the $69 million cash over the $141 million annuity. That equals about $47 million after state and federal taxes are paid, said Tom Shaheen, executive director of the North Carolina Education Lottery.
Griffin, 66, said he had $5 left over after buying gas Saturday so he bought five tickets, letting the machine choose his numbers and he was unaware of the total jackpot. A friend, identified only as Larry, said, "you ain't going to win that," Griffin recalled.
But at 8:30 a.m. Sunday, Griffin woke up his wife, 65-year-old Loretta, with the news that he thought they had won the lottery. He returned to store to make sure the ticket was legitimate.
He plans to use the money to take care of his family and to travel with his wife to Hawaii. He also plans to play more golf and to help his church, Crossroads Assembly in Asheville.
Griffin, who had a hard time hearing questions, and his wife grinned throughout the news conference at lottery headquarters in Raleigh, holding hands for much of the time. Two of his three children joined them, although they declined to identify themselves.
When asked how their lives would change after winning the money, Griffin replied: "It won't change that much." Loretta Griffin made a face, indicating her disagreement.
Later, she said she thought the money would make their lives easier. "We just won't have to worry about bills," she said. "And you know, he won't have to work as hard."
It was clear from their answers that the Griffins had not notified many people of their windfall or their plans. Their church doesn't know, he said, and neither does his banker. "I'll be talking to him as soon as I get back," he said.
Griffin has owned a janitorial business for 40 years and worked for the fire department as an engineer and driver for more than 23 years. He said he may leave the business to his children, though that was news to them. He says he moved so quickly on claiming the money — he had 180 days — because "I figured I'd better get here before I lost the ticket."
As for Larry the friend? Larry told Griffin on Sunday that he had heard someone in Asheville won the $141 million.
"And I looked at him and smiled, and he said, 'What are you smiling about?'" Griffin said. "And I said, 'Because I won it.'"
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Congrats to the winner!
Congratulations to Frank Griffin and his wife Loretta Griffin.
congrats to the Griffins.
I agree.........congrats to them.......
They are so cute and she is just giggling like a school girl....I love it!!
a other record old person wins!
but am glad they are happy about it,, they said they have grandkids so they are about to get spoiled am guesting
rich grandparents always love to spoil their grandkids rioten in my mind
something special about spoiling your adult kids , kids
like in your face, you was a spoiled little brat
, now you can deal with what we dealed with,, payback is best served cold son!
Congrats to the Griffin family! Another one for QuikPiks!
Sadly I'm not related....
Although I could be convinced to be a long lost relative ....LOL Seriously though this guy seems like a nice fellow and I wish him well...however he may wish he hadn't come forward and been so public. Good luck Griffins!!!
Congrats to them on their win!
Congrats to them!!!! he claimed his prize fast just as fast as that other guy that didnt tell his wife who worked 2 or 3 jobs......
I have one comment to make to frank and Loretta...RUN !.
Congratulations to the winner.
That would be me, I'd be there faster than wildfire! lol
Yea, that other guy, he lived a couple of counties North of me (I remember that night distinctly, it was a night I thought for sure I was going to win it, more than any other night in my life). My understanding was that he wanted to surprise his wife, and then of course, she was at the conference with him. His wife was quoted as saying "I work at the Senior Center and we were having our Thanksgiving dinner yesterday," said Kathleen. "I wasn't going to leave until my work was finished." See, he knows her best, she wouldn't have left, anyway. LOL
Most of us in Kansas, me included, would have a good long drive ahead of us, to claim our prize. We only have 2 lottery offices in the state...lottery headquarters and a regional lottery office, and this guy just happened to live in the town with the regional office. It is NOT a big town, either. My ex's mom lived there, so I've been there a few times. With it being so close, I would've hightailed it over there, too.
We used to have an office in Wichita at one point, but it closed some years back.
I wouldn't have much choice but to take the family with me, I'd be on the road for hours and hours, there and back. It would be one trip I would gladly take, though!
Well, we screwed up somewhere, Guru.
I am just SURE that this was the jackpot we were supposed to split. 
I guess we'll just keep trying.
Big congrats to the winner, I hope he really enjoys it, and it brings nothing but happiness!
What's ol' Larry saying now?
I live a couple of hours from Ashville....have actually bought lottery tickets there before. Good for him. I always say I'll play it safe and contact an attorney & accountant before claiming the prize but who am I fooling???!!!
I'd be at the door first thing in the morning waiting for them to open!!!! I'd be terrified of holding on to a tiny piece of paper worth THAT much money. I'd just have to deal with the fallout later.
One day it will be nice to tell all of the lottery cynics that look....I did win!!! It is possible!!!
Congrats to them!!!!
People just don't learn.
There they are telling the whole world about their money and plans for it. So naive and trusting. I almost feel sorry for them. My guess is the Griffin's affable disposition will disappear as soon as the throng of parasites descend upon them. Three words: Dee Dee Moore.
yeah told 2 people too many, the banker and his mate, oh if you ignore THE REST OF THE WORLD .
good luck, mite want to iinvest in a " how to disappear yourself " book.
"Griffin, who had a hard time hearing questions--" This will come in handy when people ask him for money!
Congratulations to the Griffins!
Yeah too true..... if it were me i would have had on my baseball cap really low and a set of ray charles sunglasses and plead the 5th on all the question that were asked or say no comment..
Since I shave my head just about every other day. If I won I would purchase a very good long haired wig and follow your advice with the Ray Charles sunglasses and baseball hat...I'd even consider a fake rubber nose for the photo session...
That he was right the other 195,249,049 times he said it.
Congratulations! Pity they cannot claim anonymously. Still with these money they can find a private place.
As for me ........ I will be drinking more tea ........ like the majority !
Congrats to the Winners !!!!
A man wins $141M and gets only $47M?? Dont get me wrong, that 47 number is still more loot than what 95% of of US citizens have but still.
I wish they change the way they advertise the jackpots and just say something like "Fridays megamillions jack pot is $47M"
Maybe I need a cold beer ha ha ha
47 mill from 141 thats alot of TAXES wow!
Congrats to the winner!
If you look .... that is $47 Million out of the CASH option.
The $141 Million is the Anuity.
Why do people make this so complicated.
They DO advertise the Cash Value !!!!!!!!!!!!!!!
Some folks don't play unless the advertised jackpot is above $100 million. To get them to part with those dollars, the larger of the two numbers will be promoted. Full disclosure in advertising? That'd be like letting you take home your entire pay check all year and then presenting you with your entire tax bill all at once. Far better (for them) to take your money over to course of the year. Look at all the people who cheerfully await their "refund".
There's a reason so many prices end in $X.95 (and fractions of a cent, at gas pumps)
The Time Value of Money is the value of money figuring in a given amount of interest earned over a given amount of time.
Why even advertise an anuity amount? Doesn't it make more sense to advertise the amount a winner will recive in one lump sum at the time of of the drawing?
Why don't they put the cash value in big numbers and the annuity amount below in small letters? It is misleading. Looking up the definition of FALSE in the dictionary, one of the definitions is " c : intended or tending to mislead "
IT IS FALSE ADVERTISING
It's not false advertising because the prize itself is an annuity OR lump sum, whichever the winner chooses. This is stated in the rules of the game which the player is responsible for reading, although a lot of people don't bother reading the rules of jackpot games such as Powerball, Mega Millions, or Lotto. They just see the jackpot amount, want it, and buy tickets for it. Whether or not they were unaware the advertised was an annuity not is their responsibility.
I'll say what I've said before: Annuities are nothing new. They've been around for a long time. They are the amount that's advertised. It should be expected by now. If people aren't going to research what they're getting involved in, then they shouldn't be participating in it. Don't play the lottery. Of course, we both know that's not going to happen because, hey, if they win, even if the cash value is 50% of the annuity, they still know it's a ton of money. I'm sure they'll gladly take it.
I'm not going to get involved in horse race betting when it's something I've never done before without reading the rules of the game, wager options, prize payouts, etc. Same thing with poker. Why would someone buy into a poker tournament if they've never played before and don't even understand hand rankings? No research whatsoever.
But if you act right now we'll double your order and send you six pants extender buttons all for just $19.95! (just pay extra shipping)
Why is it even necessary to offer an annuity? What is the purpose of offering one?
Having an annuity gives the winner an alternative to taking a lump sum payout, which, depending on the winner, could be beneficial. I'd assume age and manageability are the biggest factors.