Lottery Billionaire Buying Lots Lost in LA Fires

Edwin Castro, the winner of the $2.04 billion Powerball jackpot, has made headlines again for his recent ventures. After his initial spending spree on luxury properties and vehicles, Castro has now invested $10 million in 15 lots in Altadena that were destroyed by recent fires. This move has sparked controversy among locals who are wary of investors, especially as Castro explicitly states his intention to build homes and sell them at market value, not for charity. Despite initial skepticism, some locals are comforted by the fact that a community member is leading the redevelopment efforts. One fascinating aspect is Castro's commitment to retaining Altadena's original charm by planning craftsman-style bungalows and Spanish revival homes, aiming to restore the area's small-town feel while fast-tracking the rebuilding process.

• Edwin Castro won the $2.04 billion Powerball in November 2022, claiming a lumpsum prize of $997.6 million.
• He initially spent heavily on luxury mansions and cars, including a $25.5 million Hollywood Hills mansion and a $250,000 Porsche.
• Castro has since invested $10 million in 15 fire-damaged lots in Altadena, aiming to build and sell homes at market value.
• Locals have expressed skepticism and concern about investors, calling it a "second wave of disaster."
• Castro plans to build craftsman-style bungalows and Spanish revival homes to preserve Altadena's original charm, with the entire buildout expected to take 10 years.