Has the TV show "Who Wants to be a Millionaire" made anyone a millionaire?
The premise of "Who Wants to Be A Millionaire" is that if a contestant correctly answers several questions of approximately increasing difficulty, s/he will become a millionaire.
However, even if they correctly answer the $1,000,000 question, they still have to pay taxes on that (which is quite a lot), and 3/4 of the money comes in equal installments over 20 years, an annuity (which, if Powerball figures are a guide, have an initial cash value of about half the payments' total). Source: Official rules.
However, it is possible that some contestant came into the show with enough assets saved up so that a prize check put their total balance up over $1MM.
Are there documented instances of the show actually making someone a millionaire?
To clarify, the question refers primarily to the US version of the show.
Best Answer
Possibly.
From wikipedia:
The $500,000 and $1,000,000 prizes were initially lump-sum payments, but were changed to annuities in September 2002 when the series moved to syndication. Contestants winning either of these prizes receive $250,000 thirty days after their show broadcasts and the remainder paid in equal annual payments. The $500,000 prize consists of $25,000 per year for 10 years, while the $1,000,000 prize consists of $37,500 per year for 20 years.
In January 2001, when no contestant had won $1 million in any show that aired over a period of five months, the top prize was then changed from a flat $1 million to an accumulating jackpot that increased by $10,000 for each episode where the top prize was not won. On April 10, 2001, Kevin Olmstead correctly answered the final question and won $2,180,000, making him the biggest winner in television history at the time.
https://en.wikipedia.org/wiki/Who_Wants_to_Be_a_Millionaire_(U.S._game_show)#Payout_structure
Addition sources are required to know if the Olmstead was officially title a millionaire and how his winning were paid out. You'd have to be in a pretty high tax bracket though for the payout to put you in the millionaire category.
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What happened to the game show Who Wants to Be a Millionaire?
The syndicated series' final host was Chris Harrison, who took over from Crews in 2015 and hosted until the show was cancelled, with the finale airing on May 31, 2019....Who Wants to Be a Millionaire (American game show)Who Wants to Be a MillionaireNo. of seasons22 (5 on ABC, 17 in syndication)No. of episodesABC: 388 Syndication: 3,010Production18 more rowsWho owns the show Who Wants to Be a Millionaire?
In its format, currently owned and licensed by Sony Pictures Television, contestants tackle a series of multiple-choice questions to win large cash prizes in a format that twists on many game show genre conventions \u2013 only one contestant plays at a time, similar to radio quizzes; contestants are given the question ...How many millionaires have been on Who Wants to Be a Millionaire?
Six lucky players have won the jackpot in the show's history.How many people have won a million dollars on Who Wants to Be a Millionaire in Australia?
$1 million question incorrect. To date only seven people have got the million dollar question wrong, all on Millionaire Hot Seat: Barry Soraghan: 8 June 2009.Who Wants to Be a Millionaire UK - Greatest Phone a Friend ever! (high quality)
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