Half deposited into a high yield CD with a six month term and the other half use it to open an auction house that would demolish ebay. And grow my current businesses.
I'd likely spread it around into a few things. real estate rentals and then fund a few small tech startups or websites (maybe 100k each). one of them might take off and get bought by Google!
I'd wait to see what happens with the US economy in 6-12 months and THEN decide. Most likely if real estate prices take a nose dive, I'd buy as much property as I can in a popular US city.