We study the effect of wealth on individual and household labor supply using administrative data for a large sample of lottery players in Sweden. We find that winning a lump-sum lottery prize modestly reduces labor earnings, with pre-tax earnings declines over the first 10 years totaling roughly 10 percent of the prize. Earnings reductions are fairly constant over time and similar by age, gender, education, and pre-win earnings levels. We estimate a dynamic labor supply model and show that it can account for the results both over the life cycle and across the earnings distribution, and we use the estimated model to recover key labor supply elasticities. Lastly, we find larger earnings responses for winners than their spouses, regardless of the gender of the winner; this is inconsistent with unitary household labor supply models which pool exogenous unearned income within the household.