And another villa worth 47 million: winner of the largest lottery win ever in the US is making a lot of money | Abroad

Edwin Castro was 31 years old when he won the staggering and record-breaking $2 billion Powerball superjackpot in November 2022 – the biggest ever US lottery win. The American undoubtedly often thinks back to the moment when he bought the winning ticket in that gas station shop at Joe’s Service Center in Altadena (near Los Angeles) for 2 dollars (1.9 euros). The odds of winning the US lottery superjackpot were 1 in 292.2 million. The seller of the winning ticket shared in the joy: he received a sales bonus of 1 million dollars (939,000 euros) from Powerball.

The winner could either have the money paid out over a period of 29 years or receive one large, smaller amount. Powerball winners usually opt for the one-time payout. Castro, who officially claimed his winnings in February, also preferred to cash in immediately ‘lump sum’ of 997.6 million dollars (937 million euros). After the required federal tax deduction, $628.5 million, or €590.4 million, ultimately ended up in his account. That is a bit less than the original amount, yes. But your egg is fried.

Like it or not, California state law requires lottery winners to reveal their full names. And because everyone now knows that Edwin Castro is the winner of the largest lottery win ever in the US, his new life as a millionaire is closely followed and his most striking purchases make headlines.

Shortly after his win, Castro immediately bought two spacious homes in Los Angeles with his new fortune, it turns out. This month, this incredible $47 million megamansion in Bel Air was added. One of the type where you need a map to find your way from the toilet to the living room. The gigantic white and gray cutting was sold by celebrity real estate agent Mauricio Umansky. It has seven bedrooms and eleven bathrooms and a large infinity pool with spectacular views of LA. (Read more below the photos.)

The foyer, which has glass walls, features a koi pond the size of a swimming pool. There is also a glass suspension walkway and a waterfall. Furthermore, it is clearly a party house: there is a large bar, a wine cellar with glass walls, a separate champagne tasting room and a huge home cinema. Castro can completely unleash his inner beast on the large DJ turntables. Even those sitting in the pool can feel the beats. The bedrooms have large walk-in closets, private relaxing sitting areas and large bathtubs. (Read more below the photos.)

What do we know about the other two houses that Castro bought earlier?

American media reported in March that the lotto winner bought his very first million-dollar home soon after his claimed win: a hypermodern complex worth 25.5 million dollars (24 million euros) in the Hollywood Hills, where celebrities such as Leonardo DiCaprio and Ariana Grande also live. The brand new three-story estate has five bedrooms and six bathrooms and large glass walls at the back that can be completely opened to fully enjoy the beautiful views of the Sunset Strip, among other things. There is a fully equipped outdoor kitchen, a fitness room, a spa, a wine cellar, a game room and of course again an infinity swimming pool.

The ‘Los Angeles Times’ wrote in March that it was the most expensive sale of the year in the Hollywood Hills and the most expensive sale of a house in that specific neighborhood ever. Castro was able to negotiate something down on the price, because the house was originally for sale for just under 30 million dollars (28 million euros).

A week later, Castro bought a Japanese-inspired 4 million (3.8 million euro) villa about 30 kilometers away in his home town of Altadena. The house is not far from the gas station where he bought his winning ticket and not far from where he grew up. The house has five bedrooms and five bathrooms, its own home theater, a private office and is full of works of art. It has an unobstructed view of the San Gabriel Mountains.

Castro spent at least 76 million dollars (71 million euros) on real estate alone. He has been seen in the houses himself several times, so he does not appear to rent them out. In April he was spotted in another striking edition: a vintage Porsche worth at least 250,000 dollars (235,000 euros).

Some American financial experts do not have a good eye on it, as they indicate in the business magazine ‘Fortune’. For example, they point out that the first million-dollar house of 25.5 million dollars in the Hollywood Hills can cost at least 255,000 (240,000 euros) or even a million dollars (940,000 euros) annually in maintenance alone.

In any case, financial experts would rather recommend collecting lottery winnings over a period of 29 years, even though the vast majority opt for the one-time payout. The latter option means that you immediately have all your money and can make investments right away, and many prefer this option to avoid long-term tax implications. But installment payments also offer tax benefits, ensure a steady income stream and prevent overspending, Annuity.org said.

In general, experts prefer not to see too big changes in the lives of lottery winners, and certainly not such enormous expenditure in such a short time. “Don’t give up your job, don’t buy a Ferrari, don’t buy a mansion,” said Emily Irwin of the American bank Wells Fargo previously on ‘Fortune’. “You may have student loans and other loans to pay off, it all makes sense. But try to avoid those mega expenses.”

Other experts emphasize that winners should at least wait “until their excitement has cooled before making major purchases.” “The winner of the record-breaking Powerball win breaks every rule of financial planning,” they conclude.