A lot of people fantasize about what they’d do if they won the lottery, but California resident Edwin Castro is actually living out the dream.
Castro bought the winning $2 billion Powerball jackpot ticket at an Altadena gas station in November 2022, then came forward to collect his prize in February of this year. Now, he’s using it to buy fancy houses across Los Angeles, USA Today reported.
Related: Winning $2 Billion Powerball Ticket Sold in California | Entrepreneur
The 31-year-old opted for the $997.6 million cash option, which granted him $628.5 million after required federal tax withholdings, per the outlet. Some financial advisors suggest winners take the money in installments rather than a lump sum to avoid financial blunders and major losses, CNBC reported.
Remember Edwin Castro?
He won a record-breaking $2 billion Powerball jackpot earlier this year and opted to take a lump sum of $998 million.
He’s already spent $76 million acquiring 3 mansions in California.
His most recent purchase is a $47 million compound in Bel Air. pic.twitter.com/BZrveSSEuI— John Pompliano (@JohnPompliano) September 13, 2023
But Castro is funneling a significant amount of his windfall into Los Angeles-area real estate.
Castro purchased a $4 million Japanese-inspired house not far from where his luck turned at the gas station, a $25.5 million residence in the Hollywood Hills near those belonging to Ariana Grande and Jimmy Kimmel, and, most recently, a $47 million mega-mansion with a panoramic view of the city.
Related: Maryland Man Wins Lottery Jackpot 15 Times on 15 Tickets
Castro’s latest acquisition features seven bedrooms, 11 bathrooms, DJ turntables, a koi pond, an infinity pool, a glass walkway, a wine cellar, and a home theater, according to USA Today. The bedrooms also come with walk-in closets and oversized bathtubs.
Related Posts
I Won the Lottery—Then Scammed By Best Friend, Dumped By Mom
This article originally appeared on Business Insider. This is an as-told-to essay based on a conversation with Randy Rush,...
3 Safe Gold Stocks Pointing to Buy
Gold is often considered a safe-haven asset during economic uncertainty and is used as a hedge against inflation. Given...
How to Design the Ultimate Online Customer Experience
Opinions expressed by Entrepreneur contributors are their own. Your online customer experience is more crucial than ever. Why? Because...
How a Solopreneur Creates Word-of-Mouth Marketing Magic
Opinions expressed by Entrepreneur contributors are their own. Starting and growing a small business alone is a unique challenge,...
Why Long-Term Strategic Planning is the Lifeline For Your Business
Opinions expressed by Entrepreneur contributors are their own. Business leaders have faced extraordinary challenges over the past several years....
Before She Started Slutty Vegan, A Disaster Taught Her the Difference Between Making the 'Best' Choice and the 'Right' One
When things go wrong (and they will), Cole says it's all too easy to ask, "Why is this happening...
