Matthew Good has chosen to receive a single payout of $192 million to avoid a possible tax rise in 2013.
He bought $10 of Powerball lottery tickets and had kept them in the sun visor of his car overnight before realizing he was a winner.
He and his wife will split the $587.5 million total prize with a Missouri couple who bought the other winning ticket.
Matthew Good, who lottery officials said is in his 30s, and his wife live in an affluent suburb of Phoenix, Arizona, called Fountain Hills, where their ticket was sold.
They consulted a team of financial advisers after discovering that they had won.
A lottery official said Matthew Good intended to put together a financial plan, and also to set up a charitable organization that would give money to causes he and his wife support, the Associated Press reported.
Matthew Good also reportedly told officials that he enjoys his job and is not making plans to quit.
The couple had tried to remain anonymous, but Mattew Good’s name was released in response to a public records request.
Earlier, they said in a statement: “It is difficult to express just how thankful we are for this wonderful gift.
“We are extremely grateful and feel fortunate to now have an increased ability to support our charities and causes.
“Obviously, this has been incredibly overwhelming and we have always cherished our privacy.”
The jackpot was the second-largest in US history.
The numbers drawn on November 28th were 5, 23, 16, 22, 29 and 6.
The other winning ticket was bought at a petrol station by Mark and Cindy Hill, of Dearborn, Missouri.
They said they would use their winnings to help their relatives, including grandchildren, nieces and nephews, pay for college.
Quincy Jones, the celebrated musician and producer who worked with Michael Jackson, Frank Sinatra, Ray…
Misleading allegations, rumours and outright lies about voting and fraud are flooding online spaces in…
At least 158 people have died in Spain's worst flooding disaster in generations. On October…
Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…
Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…
The US presidential candidates continued to campaign across key swing states on October 20. Footage…