Winner of world's largest jackpot living in luxury
By Kate Northrop
The winner of the $2.04 billion Powerball jackpot is ready to live it up in luxury, having already purchased a $25.5 million Hollywood Hills mansion.
Last month, Altadena resident Edwin Castro claimed the world's largest jackpot and is wasting no time in putting the unfathomable prize to good use.
The last several months have taken Castro's life in a wild direction, with the lottery winner now the proud owner of a three-story contemporary mansion in Hollywood Hills, Los Angeles, living close to the likes of Ariana Grande, Dakota Johnson, and Jimmy Kimmel.
While Castro has kept himself hidden away from the public eye, declining to appear at the California Lottery's press conference, the $25.5 million hillside home begs to differ. The mansion stands sits nestled into the side of a cliff, boasting over 13,500 square feet of living space, five bedrooms, and six bathrooms, and two powder rooms.
The house was designed and built in 2022 by architect Roman James and was showcased in the Robb Report, a luxury lifestyle magazine featuring various products like cars, airplanes, boats, watches, and real estate. The home was originally listed at $29.95 million, but Castro scooped it up at a $4.45 million discount.
The main level is comprised of an expansive living room graced by a massive modern fireplace and a kitchen showcasing black granite countertops on opposite ends. A seamless glass wall offers a view out to the infinity pool and full outdoor kitchen, the L.A. skyline, and even the Pacific Ocean.
"Roman James did a great job of pulling the expansive views into the home to create an intimate backdrop for moments alone or with guests," Stefan Pommepuy of The Agency told The New York Post. "It's sexy and cool, but still feels like a place to call home."
Other notable highlights on the upper and lower floors include a gym, cold plunge pool, wine cellar, movie theater, and dry sauna, topped off with a private balcony in the master suite and a rooftop deck.
There's plenty of room for parking, should Castro choose to add some cars to his garage space. He'll have two separate garages that can hold up to seven cars, and if that's not enough, he has a flat motor court to house several more.
The property is situated above Chateau Marmot, a famed hotel that also doubles as a go-to hangout spot for celebrities. Whether Castro decides to step out and venture into the throes of his budding luxury lifestyle, his new home surely has enough amenities and space that would make it difficult to leave.
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Thank to Win$500Quick for the tip.
What is the word when someone suddenly becomes extremely wealthy, yet does not fit the lifestyle of the rich and famous? Help me out!
nouveau riche?
Looks like Ed is going live it up!
Buying a $29 million house from a $2 investment is one heck of a parlay.
Just FYI for non-Californians commenting, homes like this in this area are not always owner-occupied. They can be rented out for high five-figures at least. Renting a mansion is not at all unusual in the LA area.
Good for him,enjoy it
Oh this guy is f*cked. lol Everyone knows where he lives now. This won't end well.
Maybe Dan Bilzerian can rent from him! LOL
Really odd that he didn't buy it privately through an LLC. I wonder who's advising him — or if he doesn't have someone advising him.
if you have to ask ......
Spending like this so fast and spending it publicly is not the wisest of ideas. But to each his own. I wish him no ill will, but I wonder like Todd who in the world is advising him; they need to be terminated straight way!
This guy is going to have a lot of annual property TAXES to pay on a $25 Million home in Los Angeles. Also, even though the home is situated above a Hollywood Hills Celebrity Hotel hangout, Chateau Marmot, this guy is not a celebrity, he's probably just a regular person. He might not "fit in" with a celebrity crowd, even though he is now rich.
That's why they call it "dumb luck". Now he can fit in with the rest of the weirdos in Hollywood.
I'm sure he doesn't care. I'm happy for him. Nice place!
You think it's an investment property rather than a home he plans to live in? I hope so, because it was not hard to find the exact address, LOL. All the houses there look like they're about to slide downhill. But hey he could be a seasoned house flipper for all we know.
I'm glad he is living it up. It would be boring not to spend the money. I hope his next purchase is a Ferrari. -op
The Beverly Hillbillies
or
The Jefferson's
I think he wants everyone to know his name. The look at me now winners tend to get themselves into trouble. Not a good sign. Could have bought it through a llc.
I would not assume he lives in it. Lots of vacations homes like this in the rich parts of LA are listed on VRBO for several thousand a night and from a tourist's point of view it's a great location.
And yes, they can slide downhill!
https://www.ocregister.com/2017/01/31/laurel-canyon-landslide-leaves-several-homes-in-peril/
Sounds like he's going on a spending spree. I just hope he doesn't go broke like so many others have.
One thing about a big house like that is not only the purchasing price but the upkeep as well. I'm sure the utilities are pretty high for a house that big, along with general maintenance(grounds keeping, cleaning, etc.) and property taxes.
Maybe he wants to be around the rich and famous. Even if I had that much money, I doubt I'd fit in with celebrities or other people like that. It takes more than money to be in with that crowd.
Someone who wins the lottery won't fit in with the money crowd because of how they got their money and won't fit in with the rest because they have so much money. Don't forget, all the people who want to be friends just because of the money and will be gone when the money is gone and the friends that are lost because they want money and the winner won't give it to them.
It makes me wonder if winning a large lottery jackpot may make someone secure for life but at the same time, makes that person an outcast.
Something to think about.
Wow!!!.........how about 3.5 million for the house and 22 million for the breathtaking view? When you zoom in the view is impressive. Congrats to MR. Castro. I hope he does not follow in the footsteps of the legendary David Lee Edwards and feel that being rich means buying a yard full of Corvettes and hanging around unsavory characters for some reason. Too much attention brings out certain people that you would prefer not to meet.
He's living it up. You never know what life will bring you. I hope he enjoys every minute of his wealth.
From the LA Times: "Castro, who chose to collect the money as a lump sum of about $997.6 million before taxes, bought the modern mansion under a limited liability company, records show."
live the life, richie rich.
He bought the property through an LLC. Some people are just nosey that's why the identity of the buyer was revealed, given that property records are public.
I don't know why people here always assume that winners like Edwin Castro are "stupid" or have to "fit in". He has $600M left. He can do what he wants. It took him 3 months to claim the jackpot, he definitely has team of lawyers and financial advisors.
I agree, live it up, congrats to the lucky guy.
Source?
5 years from now we'll be reading a story on this winner about how he's dead broke lol
The guy purchased a 25 million dollar home for 4 million. Just think the number of people who looked and said wow what a steal if I only had 4 million. Is the owner responsible for the taxes on the value of the property 25 mil. Or just the purchase price of 4 mil.???
No-The home was originally listed at $29.95 million, but Castro scooped it up at a $4.45 million discount. The discount was 4.45 million-not the purchase price.
Instead of buying this expensive real estate house he should have bought a great hotel with a residence for himself. He would have lived in a fancy home and also have free great meals to enjoy.
The RE estate taxes on this house would make him cry shortly.
It is his money and he is enjoying and someone will be there to enjoy with him
God him sense to understand
https://www.latimes.com/california/story/2023-03-07/winner-of-2-billion-powerball-jackpot-drops-25-5-million-on-hollywood-hills-mansion
second paragraph
I agree. I'll leave the armchair psychoanalysis and personality profiling to the people with armchairs.
It's not a good place to live, Floods, Cyclones Snow storms Earthquakes
Congratulations to him for living his life how he likes good or bad l support him for as long as he doesn't use illegal drugs lol 😍🤠
* Says you! California's earthquake are nowhere near those of Turkey & Sane Californians are not going to trade moving to Tornado Alley States. People have to live somewhere. Nevertheless..
* As for Castro's choices, l say live & let live. Just as long as he does not end up like Edward's, more power to the guy.
Ok It was listed @ 29 million ,, Castro paid 25 million so he saved 4 million. His taxes are on 25 mil. I'm thinking he should spend on investment properties to grow capital and offset the tax liability.
I hope he goes bankrupt, he only won because it was WAY TOO EASY for him to win.
he be broke before you know it
Thank you, I take back what I said previously.
Agree. And I think it's people being jealous, and maybe hoping he loses/blows through his money.
I do not think anyone is jealous. It just hints at something and reminds me of Cynthia Stafford. She wanted to be a STAR and thought she could buy her way into Hollywood celebrity status. The Hollywood crowd will never be his friend.
Nice house.
A lot of people here are either jealous or spiteful due to him winning the jackpot. Bottom line, after buying his new home he still has over $600 million in cash after paying all Federal taxes. If he simply buys 1-year treasuries which yield 4.5% he'll collect $27 million.
His advisers have most likely set him up with a family office which will provide a complete fiduciary team to help him with everything he needs. I believe he won the largest individual lottery prize in US history and with the proper support/guidance he will be just fine.
* Wow, a cascade of down votes: That tells me the natives are restless. There's a whole lot of shaking and upsetting going on."
It's not at all difficult to use an LLC that doesn't make your name available, so I'd say he still needs better advisors unless he wants people to know.
Some people do not need advisers. Need I remind folks of the adviser/lawyer that scammed multimillion dollar winners.
Always said that if and when a person wins it's their decision ultimately.
plus the drawing was "rigged" it was delayed for a while and all of sudden theirs a "winner" from California
If you sign over your complete access to your money to a third party, you failed in exercising any degree of common sense. Advisors are there to advise but winners have to stay engaged. The vast majority of advisors are ok. I think most lp members would have known better to make such a pour decision and say I turn over all my rights to you and please bar me from access to my own money.
Dude, the Powerball lottery drawing was not rigged. The delay in the drawing was due to the state of Minnesota not having their ticket count in before the deadline. The winning ticket was in California NOT Minnesota. Why is it that people come out of the woodwork saying the Powerball or Mega millions lottery is rigged ONLY when the jackpots are over $800 million? You definitely would not be saying the lottery was rigged if you were the one to win. You just sound jealous.
Mega and Powerball make it possible for a nobody to obtain wealth and make purchases they wouldn't be able to otherwise. Its finding a needle in a haystack. Of course there will be jealousy among the players who missed. The media loves to exploit these events downplaying the acquisition of sudden wealth to unworthiness as opposed to someone who earned Thier wealth. And when they screw up, it validates thier original assessment.
I agree. It was too easy/quick to obtain his identity on the purchase. There would need to have been additional layers, which he was not provided and did not obtain. I initially stated that he should have purchased the property under an LLC, because it was too quick and I therefore made an assumption.
So obviously the guy has some kind of advising, but I don't think it's very good.
Over 50 comments on this story. But this one is my favorite.
I agree. I read where some celebrities buy homes in the name of their attorney.
But this llc could also have used a new anonymous trust as a registered agent or created another llc. Not great advice.
I don't think that anyone is jealous of this man's win. I think that after all of the discussions that have been had on LP, over many years, regarding what typically happens when a jackpot winner starts spending large amounts of money on luxury items right away, and eventually goes broke, b/c they don't know how to manage sudden immense wealth, that this situation will probably be yet another statistic for the record.
It's interesting that you rarely read about a jackpot winner who has chosen to make large donations to charities, or put the money toward helping other people in some manner. The state of California has a lot of problems right now, that private wealthy citizens could help out with, such as : homelessness, lack of affordable housing options, crime, problems in the education system, property damage from crazy weather patterns, state government political problems, food for the needy, health care concerns, etc. An infusion of money from a private source, toward any of these issues in the state, could go a long way toward benefiting other people.
If Mr. Castro spends his winnings WISELY by helping others, the GOOD DEED could help him to earn his ANGEL WINGS in HEAVEN later on [or at least some Nice Place in the AFTERLIFE] b/c we don't live for this world only. When we pass from physical existence, we continue to live in a different realm of reality. Therefore, a WISE person would want to do good deeds in this life experience, in order to ensure that his AFTERLIFE experience is pleasant, as well.
When Mr. Castro transitions to the "Other Side," the Divine Guides will ask him what he did with his multi-million dollar lottery win ? If he replies that he bought an expensive house, cars, vacations, etc, and spent most of the money on himself, rather than benefiting others, how do you think that the Divine Guides will respond ? He was presented with a life lesson to learn, and he failed to learn the lesson. I don't mean that he has to give away money toward every outstretched hand that tries to take advantage of him. I mean BENEVOLENCE toward a larger, greater good; anonymous CHARITABLE BENEVOLENCE toward established charities, is probably the safest path to take, in putting the money toward benefiting others. Remember, the $2 Billion Powerball Jackpot lottery money is the money of U.S. TAXPAYERS, and TAXPAYERS of the state of California, in the first place. Therefore, it makes sense that, that much money should go toward benefiting populations in California, or Nationwide, that need assistance.
People may disagree with me, but we can agree to disagree.
Oh hush. Low intelligence posts like this should have no place on this site and people who post nonsense like this should be banned. Lottery is rigged because YOU didn't win? Why wait until 2 billion to rig it if rigging is an option? Ticket was won in California but lottery had to wait for another state to complete reporting its ticket sales due to a malfunction, now Mr. genius, tell us, how does the rigging work for one state to malfunction and for another state to win.
Is there any logical thinking that's going on inside that brain? Like at all? How are people like this real.. ugh exhausting.
I get a very strong feeling by your post that you are one of us. I call it 'The Chosen'; I don't elaborate on it too much. Had met two other mortals like me but I didn't say anything to them about it. One lady on FB wrote some specific phrases and I told her she was one too.
Points you wrote all very well taken.
There are advisers, lawyers, managers, etc., who came to lottery winners offering to help and ended up cheating them. Dee Dee Moore definitely falls into this category.
I would never give anyone free reign over my funds and sometimes the advice of advisers isn't much better than the advice of anyone else.
Tim Shultz on YouTube interviewed the now retired director of the Iowa Lottery Terry Ricks and he recommended taking the cash and investing in a low risk annuity because that would probably give more money in the long run than the lottery annuity would.
https://youtu.be/QYiQ97CzesE
Like you said, it's ultimately up to the individual.
Very true.
Abraham Shakespeare learned about that the hard way.
We do lots of stories about winners who do good things with their money. We even did an entire video dedicated to one such group of winners. I think Lottery Post makes a pretty good balance between reporting on the good and the bad.
This story is just "neutral" however — neither good or bad. The guy bought a nice house.
I read he's only 30 years old so he has plenty of time to enjoy the money. Must be nice!!
My comment was not in any way meant to imply that LP wasn't covering stories about winners who do good with their winnings. I wasn't thinking about how you reported this story at all. I was simply generalizing about how lottery winners themselves tend to spend their winnings, more for themselves, than for the good of humanity.
The pictures wore me out just thinking about the walk between rooms.
The jackpot belongs to the person with the ticket that won. If he chooses to buy ice cream with it-that's his money, his business. When YOU win, you can do all those things you think he should do with his money.
Absolutely, the jackpot winner is under no obligation to any one how they spend Thier money. It's none of our business, but the media chooses to make it so. All we need to know is there is a jackpot, there is a drawing, and weather or not it was won.
Indeed. It's absurd to claim the jackpot winner owes citizens money. California doesn't tax lottery winners but many states do. It's that kind of unhealthy and downright disturbing take that has endangered the lives of jackpot winners in the past, and why it is essential to claim via a trust anonymously if your state allows it. A lot of people think you're unworthy of the money if you win and even worse owe THEM a piece of the new found wealth. The richest country on the planet does enough tax collection to meet its budget needs. No need to turn to lottery winners to fill in the gap. Instead focus on the politicians and the money being wasted. The lottery winner can do whatever he/she pleases with their new found wrath. That was the whole point of them playing the lottery in the first place.
Edwin Castro has the system.
I've know doubt that some of the uber rich use the battery powered version of this to get between rooms and other sections of the house
You may be right ...lol I hope an elevator too... those stairs would kill me.
I'm happy for him. Can't tell people what to do with their money..I would've done the same
You have too much time on your hands. You wrote a book on this man's money...it's his money....he don't have to share NOTHING...I'm sure when he was broke nobody gave him anything....
"So obviously the guy has some kind of advising, but I don't think it's very good. "
Maybe he did it himself online for $39.95. Believe it or not, I've read that some people think you can do it all on your own without any advisors at all.
"I don't think that anyone is jealous of this man's win. "
I'm jealous. I'd much rather have seen the winning numbers on my ticket instead of his.
"It's interesting that you rarely read about a jackpot winner who has chosen to make large donations to charities"
I'd like to have seen it roll once more before being the sole winner, because it would be nice to net $50 million for myself and have my charitable foundation start off with an even billion or so. I'd be happy for people to know the anonymous winner was going to spend the vast majority on charitable gifts, but I'd do my best to make sure that the public didn't have more than a general idea of where the money was going.
As others say, when somebody wins the lottery the money is theirs and they can do whatever they wan with it. They can spend every dime on stupid stuff for themselves, or they can give most of it to whatever causes they see fit. Either way, they can let the public know all about it, or they can keep it as quiet and private as possible. If I win I won't be looking for praise, but a big factor in being quiet is that I wouldn't want all the requests for money.
Winner just bought a 2nd property near Altadena.