this loophole has appeared in the president s budget again and again and again. but it never makes it to the final draft. they re always willing to compromise and throw it out. those of you who regularly watch the program know how we feel about carried interest, one of the note of ridiculous tax loopholes in the united states netting billions of dollars for a very, very select few of america s billionaires. it gives loopholes a bad name and makes argument of the special treatment add up. let me explain how it works. let s just say a rich guy invests money with a private equity money manager and that manager does a good job. so the rich guy s investment goes up by $5 million. that s a huge profit, right? well, the way it works is that the money manager gets a cut of that the profit. 20%. so in this case, his cut of the total profits is 1 million bucks. now, the government wants to encourage people to invest in new businesses and private equity does that. so if you invest in new business
coins estimated to be worth about $10 million. this couple turned to gold coin expert mr. kagan for helping to assign those coins. did i get that right? first of all, you brought one of the coins with you, can you show it to us and this worth 1 million bucks? yeah, this is the star of the collection. the treasure. the 1866, no model, gold piece, the finest known. that is incredible. it s worth a million bucks. clearly, this is rare. how rare is the discovery? the discovery itself is incredibly rare. rarer it s probably about a 1 in 1 billion shot much rarer than hitting the lottery. we ve heard about ship wrecks. we ve seen that. i ve been involved in most of the ship wrecks but this is a
trace gallagher is live with why shouldn t they? 20 tickets matched five of the six winning tickets worth 1 million-dollar each. in california, the lottery first said the grand prize ticket sold in california was from san diego, which had a bunch of members of my family checking noms, then oops, we meant san jose. the grand prize, one of them, the other in georgia, was bought at jenny s gifts in san jose. the owner of the shop gets 1 million bucks. he bought the shop four months ago from an ad in the paper. when he found out he sold the winning ticket, he was very excited. listen. what did your wife say to you? she followed me and hugged me all night. what am i going to do with the money? be successful in the u.s.a. you can see he s very happy
overall of winning any prize. suddenly coming in second doesn t look so bad. gio benitez, abc news, new york. all right. so one more time. here we go. the winning numbers, 7, 10, 22, 32, 35, and the powerball number, 19. by the way, a dozen tickets matched the first five numbers and those are worth about 1 million bucks. not too shabby. bought in california, florida, new york, pennsylvania and south carolina. once again, let s take a look at the odds of you being able to win this basebally. 1 in 100 million. which means very few people are going to win it. you have a better chance of getting struck by lightning. that s only 1 in 3 million. 1 in 3 million. dying of being struck by lightning. you can get attacked by a shark 1 in 11.5 million. you have the chance of dating a super model 1 in 88,000.
they re wondering what we re saying. let s get to it. the winning numbers were 7, 10, 22, 32, 35, powerball, 19. oh, yes, did we mention that one winning ticket was sold in the town of lexington, south carolina. small community just about in the middle of the palmetto state. a dozen people matched all five numbers but didn t hit the powerball. they all win 1 million bucks. and take heart, saturday s drawing is worth $40 million. it ain t so bad after all. that would be fine. i love these stories and i want to hear about the person who wins this. i hope it s someone who deserves it but when i m out of the running. i know. it is a little deflating, isn t it? yeah. i thought of the funny things like getting struck by lightning. the chance of winning is like your chances of hitting three straight holes in one in golf. the odds of me hitting three in a row is about the odds of winning the powerball. by the way, i don t even