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Powerball jackpot winner Edwin Castro has invested $47 million in three high-end California properties within months of claiming the record-breaking $2.04 billion prize from November 2022. The lottery winner's significant real estate acquisitions have drawn attention across the state, generating interest in his rapid entry into the luxury property market.
According to the California Lottery, Castro availed the cash option, walking away with a lump sum of $997.6 million, or $628.5 million after taxes, and immediately went ahead to buy three multimillion-dollar homes in his home state of California.
According to USA Today, Castro started his spending spree on March 1, 2023, with a $25.5 million Hollywood Hills mansion, "Palazzo di Vista," a 13,500-square-foot mansion spread over a 0.58-acre lot. The place is huge—it has five bedrooms, seven bathrooms, and extras like a game room, wine cellar, movie theater, bar, spa and fitness studio. The main room is on the third level and has a balcony. Some additional amenities consist of a garage that can accommodate seven vehicles. Most of the residence, including an outdoor infinity pool and fireplace, is constructed with glass walls.
On March 9, 2023, Castro bought another house in Altadena, where he used to live. The New York Post states that his $4 million Altadena place has a Japanese vibe, with five bedrooms, four bathrooms, a pool, a movie theater, and great mountain scenery.
Finally, in September 2023, as reported by USA Today, Castro spent $47 million on a third house bought from celebrity realtor Mauricio Umansky. This LA mega-home has seven bedrooms, 11 bathrooms, a koi pond, an infinity pool, a Champagne room, a glass walkway, a wine cellar, a home theater, and amazing city views.
The New York Post said Castro bought a vintage white Porsche for $250,000.
Castro's $2.04 billion win smashed previous lottery records. The golden ticket came from Joe's Service Center in Altadena, which pocketed a cool million for selling it.
During a press conference, owner Joe Chahayed Jr. stated that he intended to distribute the funds among his eleven grandchildren. Chahayed and his son, Joe Chahayed Jr., posed for photographs outside Joe's Service Center. Chahayed received a $1 million commission bonus from the California Lottery.
"We want to thank all of our community members that always come that are dedicated to this station," Chahayed said at the November 9, 2022, news conference. "They truly believe in luck and they truly believe that some things are just deserved to be."
California makes lottery winners' names public, but in some states, winnings claimed via a trust can be kept secret.
As of August 13, 2024, there have been 11 Mega Millions and Powerball lottery jackpots that have surpassed $1 billion or more in the history of the games. Only once has a lottery prize reached $2 billion.
