The winner of the $2 billion Powerball jackpot in February has spent the last few months buying up California real estate

Properties in Bel Air, Los Angeles, left, and a stock image of a Powerball ticket, right, in a composite image.

Getty Images

The winner of a record-breaking $2 billion Powerball jackpot has gone on a real-estate-buying spree.
His most recent purchases include a $47 million Bel Air mansion.
Edwin Castro has also purchased properties in Hollywood Hills and his hometown of Altadena.

The winner of the record-breaking $2 billion Powerball jackpot, who came forward to claim his prize in February, has spent the last few months rapidly expanding his real-estate portfolio, Fortune reported.

Edwin Castro, 31, secured the winning $2.04 billion ticket at a gas station in Altadena, near Los Angeles, in November last year.

He claimed his prize in February, opting for the $997.6 million cash option rather than the 29 years of annuity payments, per Fortune.

This meant that Castro ended up with about $628.5 million in cash after federal taxes, according to USA Today.

With his newfound wealth, Castro has been going on a real-estate-buying spree, which has seen him purchase luxury properties in and around Los Angeles.

Earlier this month, Castro bought his most expensive property yet — a $47 million mansion in Bel Air. reported that the house has seven bedrooms, 11 bathrooms, a pool-sized koi pond, a large theater, and an infinity pool overlooking the city.

The property also has other luxury amenities, including a champagne-tasting room, glass-walled wine cellar, and DJ turntables, the media outlet said.

In March, Castro also bought a $25.5 million home in nearby Hollywood Hills, which Fortune said was one of the area’s most expensive sales to date.

The property has five bedrooms and six bathrooms, as well as a fitness studio, game room, wine cellar, and movie theater, according to the New York Post.

In addition to these purchases, Castro paid nearly $4 million for a house in Altadena, his hometown, which has five bedrooms, five bathrooms, a Japanese garden, and a saltwater pool, a listing shows. reported that Castro has also been spotted driving a vintage Porsche, likely another of his post-jackpot purchases.

After his property investments, which total about $76 million, Castro still retains a substantial portion of his winnings.

Californian state law required Castro’s identity to be revealed when he claimed the jackpot.

Although he declined to attend a news conference organized by lottery officials, he released a statement expressing his “shock and elation” at winning, The Guardian reported at the time.

Castro did not immediately respond to Insider’s request for comment.

Read the original article on Business Insider


Related articles