What is the ‘luckiest man in the world’ buying with his $2 billion Powerball winnings?
The winner of the record-setting $2 billion Powerball jackpot in November is putting his money into real estate- specifically, into million-dollar mansions.
If you suddenly won $2 billion, it would be understandable if you wanted to go on a high-end spending spree. This is exactly what Powerball winner Edwin Castro is doing, as many big-ticket items are now within his reach.
Castro bought his winning ticket to the record-setting $2 billion Powerball mega-jackpot in Altadena in November. He finally came forward to claim his prize last month, and initially requested California officials to keep his identity anonymous. However, California state law requires that lottery winners reveal their names to the public.
Jumbo jackpot, mammoth mansion
Castro won what is believed to be the largest lottery jackpot in history; although after taxes, the $2 billion was halved, leaving him a little less than $1 billion, which he claimed as a lump sum payment.
The first major purchase that he made was a luxurious mansion in Hollywood Hills worth $25.5 million, which he acquired around two weeks after he claimed the jackpot. The three-story house measures more than 13,500 sq. ft., featuring five bedrooms, a sauna, a movie room, a pool, and two kitchens, among others.
A ‘modest’ mansion
Now, the lucky man has bought another home, more modest in comparison, as it ‘only’ cost $4 million. According to Dirt.com, a luxury real estate news website that highlights property transactions of rich and high-profile people, Castro’s recent acquisition is close to the gas station where he bought his winning ticket. The home is described as having some Japanese influence and a touch of Palm Springs.
30-year-old Castro is reported to be a former mechanic and aspiring architect who studied for this field at Woodbury University in Burbank.