$2 billion Powerball lottery winner buys $25.5 million Hollywood Hills mansion

Comment #72

Droptop209 — Fri, 24 Mar 2023 21:34:35 GMT

Winner just bought a 2nd property near Altadena.

Comment #71

KY Floyd — Tue, 14 Mar 2023 05:53:57 GMT

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... [ More ]

Comment #70

CHLOE$76 — Mon, 13 Mar 2023 01:40:24 GMT

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....

Comment #69

CHLOE$76 — Mon, 13 Mar 2023 01:35:06 GMT

I'm happy for him. Can't tell people what to do with their money..I would've done the same

Comment #68

justadream — Sun, 12 Mar 2023 22:34:49 GMT

You may be right ...lol I hope an elevator too... those stairs would kill me.

Comment #67

hearsetrax — Sun, 12 Mar 2023 22:00:49 GMT

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

Comment #66

wander73 — Sun, 12 Mar 2023 20:07:40 GMT

Edwin Castro has the system.

Comment #65

thaencyder — Sun, 12 Mar 2023 16:49:25 GMT

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 c... [ More ]

Comment #64

Tony Numbers — Sun, 12 Mar 2023 15:39:15 GMT

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.

Comment #63

zephbe — Sun, 12 Mar 2023 03:51:28 GMT

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.

Comment #62

justadream — Sun, 12 Mar 2023 03:28:14 GMT

The pictures wore me out just thinking about the walk between rooms.

Comment #61

destinycreation — Sun, 12 Mar 2023 03:22:04 GMT

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.

Comment #60

lakerben — Sat, 11 Mar 2023 23:21:49 GMT

I read he's only 30 years old so he has plenty of time to enjoy the money. Must be nice

Comment #59

Todd — Sat, 11 Mar 2023 21:39:27 GMT

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.

Comment #58

PrisonerSix — Sat, 11 Mar 2023 21:25:30 GMT

Very true.

Abraham Shakespeare learned about that the hard way.

Comment #57

PrisonerSix — Sat, 11 Mar 2023 21:20:44 GMT

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 prob... [ More ]

Comment #56

Bleudog101 — Sat, 11 Mar 2023 20:55:42 GMT

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.

Comment #55

thaencyder — Sat, 11 Mar 2023 20:22:46 GMT

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 logica... [ More ]

Comment #54

destinycreation — Sat, 11 Mar 2023 19:29:07 GMT

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 chos... [ More ]

Comment #53

Artist77 — Sat, 11 Mar 2023 16:00:32 GMT

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.

Comment #52

Mata Garbo — Sat, 11 Mar 2023 15:16:23 GMT

Over 50 comments on this story. But this one is my favorite.

Comment #51

Todd — Sat, 11 Mar 2023 14:50:48 GMT

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.

Comment #50

Tony Numbers — Sat, 11 Mar 2023 13:31:49 GMT

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.

Comment #49

winterhug — Sat, 11 Mar 2023 12:32:36 GMT

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.

Comment #48

Artist77 — Sat, 11 Mar 2023 12:24:31 GMT

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.

Comment #47

TBFio07 — Sat, 11 Mar 2023 11:32:02 GMT

plus the drawing was rigged it was delayed for a while and all of sudden theirs a winner from California

Comment #46

TheGameGrl — Sat, 11 Mar 2023 11:06:50 GMT

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.

Comment #45

KY Floyd — Sat, 11 Mar 2023 07:02:56 GMT

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.

Comment #44

noise-gate — Sat, 11 Mar 2023 01:26:38 GMT

* Wow, a cascade of down votes: That tells me the natives are restless. There's a whole lot of shaking and upsetting going on.

Comment #43

Unluckyone — Sat, 11 Mar 2023 00:57:57 GMT

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... [ More ]

Comment #42

grwurston — Sat, 11 Mar 2023 00:33:53 GMT

Nice house.

Comment #41

Artist77 — Fri, 10 Mar 2023 23:45:11 GMT

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.

Comment #40

rcbbuckeye — Fri, 10 Mar 2023 23:26:47 GMT

Agree. And I think it's people being jealous, and maybe hoping he loses/blows through his money.

Comment #39

Todd — Fri, 10 Mar 2023 20:34:07 GMT

Thank you, I take back what I said previously.

Comment #38

dickblow — Fri, 10 Mar 2023 19:20:44 GMT

he be broke before you know it

Comment #37

jjtheprince14 — Fri, 10 Mar 2023 18:24:03 GMT

I hope he goes bankrupt, he only won because it was WAY TOO EASY for him to win.

Comment #36

Tony Numbers — Fri, 10 Mar 2023 18:10:32 GMT

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.

Comment #35

noise-gate — Fri, 10 Mar 2023 18:04:58 GMT

* 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.

Comment #34

JoeBigLotto — Fri, 10 Mar 2023 17:55:01 GMT

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

Comment #33

rsparks59 — Fri, 10 Mar 2023 15:58:08 GMT

It's not a good place to live, Floods, Cyclones Snow storms Earthquakes

Comment #32

db101 — Fri, 10 Mar 2023 15:54:53 GMT

I agree. I'll leave the armchair psychoanalysis and personality profiling to the people with armchairs.

Comment #31

db101 — Fri, 10 Mar 2023 15:52:08 GMT

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

Comment #30

hsg2000 — Fri, 10 Mar 2023 15:47:36 GMT

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

Comment #29

zephbe — Fri, 10 Mar 2023 15:26:36 GMT

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.

Comment #28

Tony Numbers — Fri, 10 Mar 2023 15:18:11 GMT

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.

Comment #27

jjtheprince14 — Fri, 10 Mar 2023 13:45:42 GMT

5 years from now we'll be reading a story on this winner about how he's dead broke lol

Comment #26

Todd — Fri, 10 Mar 2023 11:20:33 GMT

Source

Comment #25

sully16 — Fri, 10 Mar 2023 10:35:30 GMT

I agree, live it up, congrats to the lucky guy.

Comment #24

hopeiwin — Fri, 10 Mar 2023 07:53:55 GMT

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.

Comment #23

SAJAN123456 — Fri, 10 Mar 2023 05:24:44 GMT

live the life, richie rich.

Comment #22

Kindofblue — Fri, 10 Mar 2023 04:31:45 GMT

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.

Comment #21

gr8ter — Fri, 10 Mar 2023 04:13:13 GMT

He's living it up. You never know what life will bring you. I hope he enjoys every minute of his wealth.

Comment #20

Mata Garbo — Fri, 10 Mar 2023 03:17:24 GMT

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.

Comment #19

PrisonerSix — Fri, 10 Mar 2023 02:57:49 GMT

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 tak... [ More ]

Comment #18

cottoneyedjoe — Fri, 10 Mar 2023 02:33:18 GMT

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

Comment #17

Artist77 — Fri, 10 Mar 2023 02:05:34 GMT

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.

Comment #16

AllenB — Fri, 10 Mar 2023 01:29:23 GMT

The Beverly Hillbillies

or

The Jefferson's

Comment #15

fellini — Fri, 10 Mar 2023 01:23:47 GMT

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

Comment #14

db101 — Fri, 10 Mar 2023 01:16:42 GMT

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.

Comment #13

lakerben — Fri, 10 Mar 2023 01:07:00 GMT

I'm sure he doesn't care. I'm happy for him. Nice place

Comment #12

Lotterologist — Fri, 10 Mar 2023 01:06:44 GMT

That's why they call it dumb luck . Now he can fit in with the rest of the weirdos in Hollywood.

Comment #11

destinycreation — Fri, 10 Mar 2023 00:40:08 GMT

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.

Comment #10

delS — Fri, 10 Mar 2023 00:28:59 GMT

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

Comment #9

hearsetrax — Fri, 10 Mar 2023 00:24:33 GMT

if you have to ask ......

Comment #8

Todd — Thu, 09 Mar 2023 23:51:36 GMT

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.

Comment #7

sdw1000 — Thu, 09 Mar 2023 23:48:48 GMT

Maybe Dan Bilzerian can rent from him! LOL

Comment #6

sdw1000 — Thu, 09 Mar 2023 23:47:24 GMT

Oh this guy is f*cked. lol Everyone knows where he lives now. This won't end well.

Comment #5

Chevaun — Thu, 09 Mar 2023 23:42:08 GMT

Good for him,enjoy it

Comment #4

cottoneyedjoe — Thu, 09 Mar 2023 23:11:39 GMT

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.

Comment #3

Stack47 — Thu, 09 Mar 2023 23:05:43 GMT

Looks like Ed is going live it up!

Buying a $29 million house from a $2 investment is one heck of a parlay.

Comment #2

cottoneyedjoe — Thu, 09 Mar 2023 23:01:00 GMT

nouveau riche

Comment #1

Bleudog101 — Thu, 09 Mar 2023 22:00:48 GMT

What is the word when someone suddenly becomes extremely wealthy, yet does not fit the lifestyle of the rich and famous? Help me out

$2 billion Powerball lottery winner buys $25.5 million Hollywood Hills mansion

Lottery Post — Thu, 09 Mar 2023 21:39:11 GMT

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... [ More ]