After YouTube icon MrBeast gave away a $442k Lamborghini Huracán to a fan in Sydney, it has been revealed how much it actually costs to ‘win’ a supercar.
Winning a supercar in a ballot, game show, or giveaway isn’t always as easy a ride as it may seem.
In fact, there are a lot of strings attached, especially if the car in question is worth $422k.
But popular YouTube creator Jimmy ‘MrBeast’ Donaldson has learned from others’ mistakes when it comes to giving away cars, as he goes the extra mile when dishing out the likes of a Lamborghini Huracán.
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MrBeast learns from Oprah’s mistake with ‘free’ Lamborghini Huracán giveaway
Back in 2004, Oprah Winfrey set an unfortunate precedent when her $8m Pontiac giveaway turned into a disaster.
With thousands of dollars in ‘gift tax’ being applied to her giveaways, ordinary families who couldn’t afford supercars were being hit with fees to inherit the vehicles, resulting in a number of complaints.
Fast forward two decades, and MrBeast is trying to right that wrong.
In a promotional campaign for his chocolate brand Feastables, MrBeast gave away a $442k Lamborghini Huracán, and he went one step further to make sure the recipient didn’t need to fork out a single penny.
While the US taxed the Pontiac winners, Australia doesn’t have the same laws, and it can be declared as a non-taxable gift, until the owner decides to sell the vehicle, in which they pay the usual Income tax, according to ‘MrTaxman’.
But then there’s insurance.
Getting a price to insure a $442k supercar isn’t straightforward, and would usually set a driver back by several thousand dollars a year.
But MrBeast’s giveaways all come with those fees covered, too.
“All car prizes include registration, compulsory third party insurance, stamp duty, and dealer delivery charges (which may vary State by State),” as per the regulations for entering.
“Additional insurance, options, petrol, and all other ancillary costs are the responsibility of the winner,” the regulations continue.
What about his other giveaways in America?
The Lamborghini Huracán giveaway did take advantage of the Australian tax laws on this occasion, but it’s also not the only big prize he’s ever dished out.
Most recently, one contestant of Amazon Prime’s joint game show Beast Games walked away with $5m in cash, and one pilot won a behemoth $2m private jet. Both of these were in America.
Since Oprah’s misfortunes, though, the laws now indicate that the donor – in this case, MrBeast – pays the gift tax. That’s also solely on ‘gifts’, and anyone competing in his game shows gets to walk away with the bounty as usual.
MrBeast’s supercar giveaways aren’t slowing down either, as he often puts up wild prizes for his record-breaking high viewership videos on YouTube.
He even told our own Alex Hirschi – AKA Supercar Blondie – what his dream giveaway is.
The post When MrBeast gave away a $442k Lamborghini Huracán it was revealed how much it actually costs to ‘win’ a car appeared first on Supercar Blondie.
