Winner of world's largest lottery jackpot is racking up the properties
By Kate Northrop
Edwin Castro, the winner of the largest lottery prize in history, has once again expanded his real-estate portfolio with the purchase of a $47 million mega mansion in Los Angeles, California.
Not many would ever expect to amass the wealth that Powerball lottery winner Edwin Castro suddenly gained overnight at 31 years old. Having just bought his third California multi-million-dollar mansion, he's putting it to work.
For a whopping $47 million, Castro added another luxurious Los Angeles home to his growing list of assets, sold to him by celebrity realtor Mauricio Umansky.
Sporting seven bedrooms, 11 bathrooms, a koi pond, and a massive infinity pool overlooking a sweeping view of the entire city of LA, this is a compound one might never have to leave.
The home also boasts DJ turntables, a champagne tasting room, a suspended glass walkway, a bar area, a glass-walled wine cellar, and an impressive home theater. The bedrooms are also fitted with walk-in closets, large bathtubs, and sitting areas dubbed "relaxation suites."
The sprawling space and amenities make it the perfect place to throw large parties and host extravagant gatherings.
His other two properties include a Hollywood Hills mansion he bought for $25.5 million and a Japanese-inspired house in his hometown of Altadena he bought for $4 million, just a short drive away from the Mobil gas station where he bought his life-changing Powerball ticket. He has also been seen driving around in a vintage Porsche 911 since the win.
Castro's purchase of his second Bel Air residence was made possible when he won the $2.04 billion Powerball jackpot back in November 2022. Since claiming the prize in February 2023, he's been involved in legal disputes over whether he is the true owner of the lone winning ticket.
The California Lottery has affirmed several times that they awarded the prize to the rightful winner.
Castro's purchases of three separate properties add up to a whopping $76 million — barely a dent in the winnings he took home after taxes. Having chosen the $997.6 million cash option at the time he claimed his prize, he walked away with $628.5 million after required federal tax withholdings.
This summer, a lottery craze swept the nation as the Powerball and Mega Millions multi-state jackpots both surpassed the $1 billion milestone. Now, Powerball is already aiming for another comeback after having officially jumped past the half-billion mark this past weekend.
The Powerball jackpot currently stands at $550 million for the next drawing on Wed., Sept. 13. Tickets are $2 per play and are available in 45 states, plus the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Drawings currently take place every Monday, Wednesday, and Saturday at 10:59 pm EST.
Lottery website USA Mega publishes the winning Powerball numbers within minutes of each drawing, and also includes detailed information about each drawing, including the official drawing video, number of winners in each prize category, news, and upcoming jackpot amounts.
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finally, a winner with no discretion who leaks his business to the press. i was getting so bored with all these sensible winners maintaining their privacy.
I am just here to read the posts by Brock Lee.
Nothing wrong with buying properties but with all the crime and issues in the state, why? Even high end malls and stores in the LA area are being hit by crime. It is not going to get better. Hope he has a couple of body guards.
I would buy in Malibu and away from the major cities.
When the Kardashians move, the area will die. Lol
I agree, I just wish he'd give a virtual tour of the inside, he's got good taste.
Spend on young man.
Boy oh boy, are the realtors happy to see him show up !!!
Meh, when is he going to do something interesting with it?
This guy is really spending money. I just hope he doesn't go broke. When buying houses, one needs to take into account the costs of ownership like maintaining the property, taxes, utilities, etc. I'm sure they are pretty high considering the size and costs of the properties. I'm sure a vintage 911 isn't cheap either.
I'm just hoping he doesn't end up one of those lottery winners we hear about who goes broke and ends up worse off.
Only time will tell.
* There are those jealous folk who are praying he goes broke, and if he did, at least he can say he enjoyed the ride.
Heard my cousin Eddie is coming to Kentucky to buy some race horses. That ride he's enjoying started when bought a $2 ticket and with it has spent around $100 Million.
Wrong Attitude to have,having money is one thing Keeping & Managing it Takes Great Discipline & Foresight No one is born with the Experience to Handle that amount of wealth ..That's why you look for Smart & Savvy people to be around you.😎
He can also sell the other two and live in this one. He probably has a few bodyguards 24/7. Alot of these mansions are sold in a few years.
I can always sell him my house here in Albuquerque. No pool but one mile from the racetrack.
based on his purchase history he likes pools and places that are not albuquerque, and he doesn't care about racetrack proximity.
I sense this is a knee jerk reaction to keep his funds /investments out of his bank account. With his recent lawsuit concerning legitimacy of the original ticket. I can see him using the system to his advantage. Very thee well to him on this venture. He isn't living in these places - he is building his enterprise- For film locations and for high end foreign travelers to rent during their stays in the area.
Probably needs 1 of these at each residence.
2023 Rolls Royce Boat Tail Cost $28 - 30,000,000.00
How many houses does he need?
When is he going to by a new car like an Audi R8 or a Ferrari?
and when is he going to give to one's in need. I have a few suggestions.
St Jude children's hospital
American Cancer Society
Homeless shelters in area be lives.....
American Red Cross....
Feed the Hungry campaign
so many more! !
..... I'm sure he has spare change .......
thanking him in advance for his donations!!
This is none of my business
What a splendid estate! What a pleasure it will be to watch it roll down the hill in pieces when the big one hits.
Not a great start. He's falling into the trap that many have gone down before. Jack Whittaker, etc.
I hope he does go belly up in about 5 years. it would be a more interesting story than him even attaining more wealth from his real estate investments. You would think having 680m in cash would be enough for anyone to ease up on trying to make more.
That would be a hoot. And maybe a wildfire taking out his other two mansions.
Sooooo, $76M out of $628M ??.....Not bad, just 12%....It would be interesting to see the portfolio of investments, that generate income, over the last 9 months and see how that is doing.(provided this young man has a financial adviser)
I do not believe anyone gives a rats ass about how much more money he can acquire or lose. Hardly interesting at all.
I doubt it's him putting this out. It's probably "reporters" monitoring the real estate activity of whatever entity he uses to buy properties. It's to generate clicks for themselves. It's not like he's out there looking for publicity. If you want to argue about the decision to investment in ultra expensive CA property well that's another thing.
He should just buy 10 more mansions, a fleet of 100 exotic cars for all of them. Multiple yachts, private jets, etc.
Yes Billy, Thanks for posting, your interests are duly noted:
"I hope he does go belly up in about 5 years" . What a pleasure it will be to watch it roll down the hill in pieces when the big one hits.🤪 "That would be a hoot. And maybe a wildfire taking out his other two mansions."
You're a jerk, Maui wildfires just took the lives of hundreds of people and there are still 700+ children missing.You just an ugly human.
< Oh look a picture of BillyBucks.
i pictured him with more hair.
You combined my response with a response by play4shekels. I only want his investments destroyed to teach him a lesson about greed. It can sometimes backfire.
" I only want his investments destroyed to teach him a lesson about greed"
"That would be a hoot. And maybe a wildfire taking out his other two mansions."
"I hope he does go belly up in about 5 years."
I fully understand your position. Got it. Thanks for posting and clearing things up.
Best of luck on your next lottery purchase.
"When buying houses, one needs to take into account the costs of ownership ..."
I really don't understand the desire some people have for such ridiculously big and expensive homes, but even at those kinds of prices it's probably a good long-term investment. Of course we have no idea if he's thinking of it as an investment. We know from past posts here that a lot of people have some kind of need to have far more house than anyone needs, and it's possible that his motivation has nothing to do with whether or not it's a good investment.
"I'm just hoping he doesn't end up one of those lottery winners we hear about who goes broke and ends up worse off.
I generally don't underestimate the ability of people to be stupid, but other than being greedy and getting into really risky investments or falling for a scam I have a really hard time imagining how somebody could manage to lose over $600 million.
Either you forgot or you didn't read the post with the picture of him and his security getting out of his Porsche to go into the Wells Fargo Wealth Advisor in one of the other posts in news.
Good for you Edwin Castro.I hope it's not your advisors referring you to these Realtors But I guess they are. Taxes, insurance and maintenance will get higher but now I guess you can afford it . Hope these properties are for your family . Good luck to you enjoy your wealth. Worse come you can sell sell sell
Me too, it's the cost of upkeep for me:
$232 million Powerball lottery winner from South Dakota lists ranch for sale
https://www.lotterypost.com/news/333652
Now he was 23 years old when he won this 2009 Powerball jackpot, 11 years later he had the ranch up for sale. If you look at the pictures of the ranch, the property was pretty big, wouldn't have a clue with the light bill would be on that lol.
Purchasing is one thing, upkeep is another but if Edwin manages his money right, he should be OK.
If it's hardly interesting why do you even bother posting about it?
And... what should he do with all that money, just bury in his back yard? At least he's putting it things that will increase in value.
🤣🤣🤣🤣🤣💯
Well he's enjoying my $50 I put in that draw that week and probably around $250 of my hard earned money when it starts out at $20 million before it rolled all the way $2 Billion. Enjoy my money and hundred millions of more of us dumbs dumbs who decided to fund his life style but what can you say, do blame him 🤷🏾♂️
Sorry Think...Didn't observe that one,to the best of my recollection. Haven't had much interest in staying up with the huge winners.
I don't have a huge interest but my pesky memory wont let me forget things...sigh
You would hope he'd have the good sense to get TF out of LA to start with, or out of Califailure altogether...
& apparently none of his *financial advisers* have that good sense to tell him either. The day I collected would have been my last day in Ca.
some are a glutton for punishment in a sense,
but then I never could understand the mind set of certain types of people nor thar respective motivation/s
The top two reasons behind people leaving Cali is the cost of living and crime. When you are worth millions you don't care about the cost of living and the better areas have less crime. Two different worlds . There's a reason so many famous people have a home here in Ca.
his money do what he wants