Man Who Won $2 Billion Powerball Sparks Debate Over His Spending Choices

Edwin Castro Bought the Winning Ticket at a Gas Station in 2022

A guy who snagged a massive $2 billion Powerball jackpot has shared his plans for the money.

Back in 2022, Edwin Castro picked up a lottery ticket at a gas station — something many Americans do regularly. Little did he know, this ticket would change his life with a huge cash prize.

He claimed his win in February 2023 and opted for a lump sum of $997.6 million.

After taxes, Castro was set to walk away with a cool $628.5 million.

Castro wasted no time spending his cash on real estate, cars, and trips. He also got security for himself and his family.

Sadly, Castro was one of the many California folks who lost their homes in the Los Angeles wildfires earlier this year.

According to the Los Angeles Times, 13,000 homes were wiped out in the Eaton and Palisades fires. A recent report shows that 75 percent of surveyed Pacific Palisades residents and 67 percent of surveyed Altadena residents are still in temporary housing months after the fires.

Having been hit by the fires himself, Castro is using some of his lottery winnings to help rebuild homes in Altadena.

At 33, Castro has spent $10 million buying 15 lots in his hometown. He's just one of many investors snapping up the burned land.

But locals are worried that the Altadena they love might be changed forever by these investors, sparking an online petition calling for 'legislation to prevent corporate takeover of disaster-affected communities and protect our neighborhoods from displacement'.

Construction has already started in Altadena (I RYU/VCG via Getty Images)

Although Castro acknowledged that he won't be building new properties just to give them away, he emphasized his intention to sell the homes to families at market value.

"The profit margin doesn’t need to be excessive," he told the Wall Street Journal. "But I’m not constructing these homes just to give them away."

According to the outlet, the 33-year-old aims to sell exclusively to families who wish to settle in Altadena, rather than to those who might convert the homes into rentals.

However, people remain uncertain about his and other investors' plans, leading to a division of opinion online.

"Yes! Let’s capitalize on other people’s misfortune," one critic commented on Castro's plans.

Edwin Castro acquired 15 lots for $10 million (Myung J. Chun / Los Angeles Times via Getty Images)

One person commented: "Does he know what he's doing? The risk is he might undertake poor projects or squander his money. Naturally, we Californians are concerned he'll profit."

Castro directly addressed this individual's worries, stating: "Haha I understand … it’s a significant project. I have some reliable people helping me keep it on track though."

Someone else noted that Castro is from Altadena.

"Well, he grew up here, and most people agree that it's better for a local kid with money to invest than a conglomerate from overseas or out of state," they wrote in his defense.

Additionally, Castro has emphasized his desire for the area to 'feel like the old neighborhood'.

What are your thoughts on the plans?