The highly anticipated Beast Games delivered an incredible $25,019,995 in total prize money—but after taxes, the grand prize winner of $10 million will only take home $5.03 million. Why such a...
The highly anticipated Beast Games delivered an incredible $25,019,995 in total prize money—but after taxes, the grand prize winner of $10 million will only take home $5.03 million.
Why such a massive cut? Winners of large cash prizes are subject to federal and state taxes, which can eat up nearly half of their winnings. Here’s how it breaks down:
- Federal Taxes: The IRS taxes lottery and game show winnings at a top rate of 37%, reducing the payout significantly.
- State Taxes: Depending on the winner’s state, additional taxes can take another 0-13% off the total.
Here’s a breakdown of how much each player in Beast Games won of the $25,019,995.00 they gave away (starting from winner to the last player):
Top Winners:
$ 10,004,242
$ 4,200,000
$ 1,800,000
$ 1,000,000
$ 650,000
$ 450,000
$ 236,878
$ 200,000
$ 190,000
$ 100,000
$ 100,000
$ 100,000
Other Major Payouts:
$ 80,000
$ 80,000
$ 80,000
$ 80,000
$ 80,000
$ 50,000
$ 50,000
$ 50,000
$ 50,000
$ 50,000
$ 50,000
$ 20,000
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 19,231
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 13,888
$ 7,439.50
$ 6,439.50
$ 5,000
$ 2,000.00 to all 2,000 contestants
— Grand Total: $25,019,995.00
The Reality of Winning Big Prizes
While winning millions sounds like a dream, tax deductions can turn a $10M jackpot into half that amount. Even other winners saw significant reductions after taxes.
Still, Beast Games was one of the biggest giveaways in internet history—proving once again that MrBeast knows how to take gaming and entertainment to the next level.
ould you still compete knowing the tax cut? Let us know in the comments!
