Todd Graves, CEO and founder of an American restaurant bought 50,000 Mega Millions tickets to increase the chances of winning the $830 million (₹ 6,624 crores) prize. His plan is to share the win with all his employees.
Todd Graves, founder and CEO of Raising Canes, and co-CEO A.J. Kumaran headed to separate gas stations to purchase one ticket per employee. However, their intentions with these tickets are not to fill their bags.
If any of the tickets win the jackpot, which comes to $480 million after taxes and deductions, the prize money will be split among every employee in the company.
He put out a video and a tweet showcasing the process. It quickly went viral, garnering attraction from regular people and news outlets alike. The responses were majorly positive, winning the founders a lot of appreciation for looking out for their employees and giving them a shot to win the hefty prize.
Hence, each employee would receive around $9,600 which is roughly ₹7,67,020.80. Graves and Kumaran spent nearly eight hours purchasing the tickets personally with a bag full of cash.
We just wanted to have a little fun and maybe even a little bit of money in the process.
The lottery is the third biggest in Mega Millions history and the fourth biggest in United States’ lottery history.
The CEOs shared the difficulty of purchasing the tickets and collecting the funds to be able to do so. “It took us four different banks and about two hours to get all the money in a little bag and then go into two different gas stations and sit there and click the button for about eight hours to get these tickets printed,” Kumaran said.
Todd Graves and A.J. Kumaran spent $100,000 (₹ 80 lakh) on the lottery tickets. The original selling price of the tickets is $2 per unit.
Raising Cane’s has over 49,000 employees at 650 locations around the United States and the Middle East. Kumaran said that if one of the tickets wins – everyone employed at the company will receive a portion of the funds. However, there is looming uncertainty as to how the jackpot funds would be distrubted fairly to all employees across the company.
“There’s a lot to be figured out. It’s uncharted territory. I think there’s some legal things that we have to follow, so we are figuring that out. Let’s see if we win,” A.J. Kumaran told Daily Mail after the tweets went viral.
California Lottery announced on Tuesday that the prize jumped from $810 million to $830 million.
“Wowza! The #MegaMillions jackpot has jumped again for tonight’s draw. The jackpot is soaring and so is our excitement!” California Lottery wrote on Twitter. The winner of the $830 million will be chosen on Tuesday at 11 pm (local time). A crew of about 25 people at Raising Cane’s will be given a stack of tickets to scan immediately after the results are announced.