Keep in mind that the lump sum on yesterday's drawing would be around $440 million, so after taxes, you would receive $220-$250 million.
That said, I thought it over years ago.
First, I would pay off my bills.
Second, I would likely buy a condo or nice apartment (or a small house ONLY if I find a good deal with a lawn maintenance company - I despise lawn work). And furnishings, of course.
That done, most of the rest would be invested (using the advice of real, live, professional financial advisors). The remainder, honestly, most of you likely won't believe me, but c'est la vie. I'd be most likely to open a homeless shelter, soup kitchen, something like that. Something to help people get off the streets and eventually even get those who are capable to back on their feet. God only knows Flint needs it, and having been homeless myself, I know better than most how easy it is to wind up on the streets, despite what the American Right would have you believe.