Edwin Castro, California man that won $2.4 Billion jackpot continues to buy mansions

Discussion in 'Other News' started by Chinatown, Sep 27, 2023.

  1. Chinatown

    Chinatown Road Train Member

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    Edwin Castro, the record-breaking Powerball winner who walked away with a staggering ($US2.04 billion) last year, has continued his spree of lavish spending.

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    The new billionaire recently purchased a jaw-dropping $73 million mansion in the exclusive Bel Air neighborhood of Los Angeles.

    This acquisition marks the latest in a series of high-end property purchases by the 31-year-old overnight billionaire.

    Castro catapulted to fame and fortune after winning the historic California lottery and opting for a lump sum payment, which boosted his bank account by an additional ($US997.6 million) after taxes.
    Since then, he has ventured into real estate, making headlines with his extravagant acquisitions.

    In just one month, Castro acquired two multimillion-dollar mansions in California: a ($US25.5 million) estate nestled in the Hollywood Hills, followed by a ($US4 million) mansion offering scenic views of the San Gabriel Mountains.

    The latest addition to Castro's real estate portfolio is his most opulent yet— (US$47 million) mansion in Bel Air.

    This sprawling estate, set on a 4700-square-meter plot, boasts seven bedrooms, 11 bathrooms, and an array of unparalleled luxuries.

    Among its remarkable features are DJ turntables that rise from the ground, a champagne tasting room, a wine cellar, a suspended glass walkway, a theatre, and an infinity pool that overlooks the iconic Los Angeles skyline.

    However, financial planners and experts have voiced their concerns about Castro's lavish spending habits, labelling his acquisitions, including a vintage Porsche 911, as "terrible" purchases.
     
    Last edited: Sep 27, 2023
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  3. TNSquire

    TNSquire Medium Load Member

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    Dude could build a real estate portfolio that pays him forever with that bankroll, and still have ample money in his pocket.
     
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  4. buddyd157

    buddyd157 Road Train Member

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    sooner or later, the real estate market will take yet another in the cycle of nosedives..

    rendering those mansions a losing proposition.'

    best to have taken the time to sit, talk AND THEN......LISTEN to the advice

    he also has to constantly watch over his shoulder, for any dark shadows.

    would have been better to have bought high rise condos, and office buildings, and reap the rentals and leases.

    then dump them, just before the market nose dives again.
    '
     
  5. Tadakatsu

    Tadakatsu Light Load Member

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    If I won the lottery I would not want to do anything to draw attention to myself, family, etc.

    I have heard it said that the truly wealthiest people on earth buy anonymity for themselves and the people they care most about. I would rather have that than a big target on my back.
     
  6. SmoothBore

    SmoothBore Medium Load Member

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    I’d spend it on a twin stick cascadia….
     
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  7. Chinatown

    Chinatown Road Train Member

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    Read, recently, about a guy that won $50 million in the California lottery. He immediately moved to another state and bought a home in a middle class community. He hasn't told anyone about the lottery wins. His concern is he and his sister hate each other and should he leave his money to her when he dies. She doesn't know he won the lottery. She's the only surviving family member.
     
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