I’d finally be able to afford a house in California.
Jokes aside - Unless I had to declare myself the winner immediately, I’d jump on a flight to meet with a Trust and Estates Partner at Cravath, Swaine & Moore (or the equivalent white-shoe) to help me out with the setup and paperwork (wills, etc.). Make the decision to either do lump (probably lump) or annuity. Work with them to help me and my family avoid the enormous issues of winning a lottery: notoriety, financial stalkers, and would-be thieves. It’s a known issue that 1 in 3 big lottery winners tend to have awful lives afterward, with many close people ending up as collateral damage.
Determine if we need to change our identity, looks, and our lives because the old ones might be over. Have the lawyers’ set up an unchangeable max percentage I’d provide to family/friends via some well-thought-out trusts where they (the lawyers) handle disbursement, and try to maintain relationships with friends and family from before. Cut off those that unfortunately don’t work.
I’d have one amount, dedicated to start a small family office to grow the wealth in a realistic, conservative way. I’d do my damnedest effort in keeping my family grounded to maintain the generational wealth, so they don’t turn into a stereotype of American wealth gone awry. They’d be taken care of, but they’d still have to know an honest day’s work. I’d have to also evaluate a way to keep the trusts secure, so that my descendants can’t sue to break it and unlock the piggy bank. Try to persuade our family to be the future legacies of where we graduated from.
Then I’d donate checks to a few foundations that I am fond of and start some of my own generous foundations. I’d invest it in programs that need help like UH’s NSM/Honors college/Band/Towers remodel, give HCC a strong boost in my program, and A&M would get a school in my degree/Dorms remodel. All three would get museums and libraries of differing kinds that are relevant. Probably give some endowments to other schools that are helping people like me move social classes.
I’d go to work in a field that means more than my current, but not much different than what I already do. Finally graduate from UH in my original program. Have a small “fun money” fund and be an angel investor. Work on some passion projects. Do my best to make a positive difference, but keep a low profile. And cocaine!