BIGGEST Lottery Winner EVER Buys THIRD Mansion In 6 Months
2023 ж. 24 Қыр.
85 880 Рет қаралды
Edwin Castro has bought his third mansion, this time, it's a $45 Million mansion in LA. The biggest powerball winnner in history, has now spent around 10% of his winnings in less than 6 months.
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So he's gone through nearly $200 million in his first year. At this rate he's going to be yet another on the list of people that won the lottery and were broke less than 10 years later.
its called property
“Gone through “haha. Broke people. He invested in real estate. You think they moneys just gone? Shah. No. It goes up millions per year in California.
@@brandonjoseph1489 Unless he's doing something with the property it's not much of an investment. Unless he's renting, selling or living in the property all he's doing right now is dumping money into the property. Remember he's going to have to pay property taxes each year and utility bills for them each month, unless he shuts off the utiltiies when he's not living there or renting the place. And remember since he took the lump sum he only collected half of his winning before taxes, so after taxes he made a little less than $669,000,000 with that win. Like I said in just buying these houses he's spent nearly $200,000,000. Then on top of that he's paying for 24-hour security. That's a lot of money going out but unless he's using that money to invest in something that's bringing money in, like if he was renting those houses or selling them for more than he bought them for, he's not making any money.
Check on him in 5 years.
He definitely has a team of financial advisors that clear his big purchases, he’ll be fine lol
I’ll say check on him in 2 years.
Yep
@@SuperHeroGodI hope so.
He will be fine with Real Estate Investments instead of burning dollar on drugs and hoes 😂
Bro could go anywhere in the world and bought 3 mansions the same state 💀
That's the part I never understand about most lottery winners, I'd be traveling around most of the planet in first class and live in a secure condo or house. But as they say: a fool and his gold will soon part.
@@dstar222 With 600 mil I’d be building a house on a lake for the summer and buying a jet and yacht to travel in when it gets cold lol
@@SuperHeroGod and all that would have cost the same if not a little less then that huge mansion he bought. Whoever is or are his financial advisors they are taking him for a fast ride.
@@SuperHeroGodyeah I’d buy a few hundred acres out in the country have a nice house built and live peacefully for a fraction of what these giant mansions would cost lol
California taxes is no joke
If I won 2 billion dollars in the lottery I am not going to buy three mansions I'll have one main home I am good with that
I would leave the country in Philippines Vietnam or Thailand he would be even richer.
What do I know? I would probably buy an apartment complex or shopping center for $47 million and have it managed to create income than buying a third mansion ¯\_(ツ)_/¯
Smart....
@@karellt2355mansions are investments too look at Zillow and you’ll see a lot of these have doubled in value (look at sold prices) since 2015. So less than 10 years you’re doubling your money.
He paid $2 for a ticket and netted almost $1B from his winnings. Do whatever you want with your money Edwin. Live nicely, travel the world and don't care what people think about how you spend it because they wish they'd won lol.👌 Have fun dude.
He paid -,s2 for tiketS1B from his winnings
exactly, finally someone positive lol
With 625mil net, he could've invest 90% of it in different venues, businesses, stocks, trust and pension funds and guarantee himself 1mil / month income for the rest of his life, then live wealthy (not billionaire wealthy) for 25 years and retire with double his winnings!
I doubt he'll pay $1 million in security for the rest of his life... eventually ppl will forget about him... I don't know the names of any other lottery winner that won in the billions... Maybe he should have left the country for a few years bc no one should feel unsafe.
You are 100 percent correct
Yep I would have went to Thailand or Vietnam and bye bye😂
Cnn, NBC, Telemundo, and Univision will keep reminding us he exists
Wealthy non famous people have security too, the threat is always there as long as you have money. Thieves target wealthy people regardless of public profile.
I always feel sorry for Americans who win the lottery and have to pay taxes on it, especially given how much they take away. You guys lose about 2/3 of your total to taxes which is just insane. In Europe all our Lottery wins are 100% Tax free so if I won a 2billion jackpot I would be handed the entire 2billion
Yup I feel it
When was y’all last 2 billion dollar lotto
@@mrmaze2463 That is not really the point now is it? It quite often gets over 100Million and when it does the winner receives it ALL
@@ASavageEye Yes but the lottery jackpots in the US often get so big that you’ll often get payouts that are about 100 million. European lotteries NEVER get over 200 million. And Europe will NEVER have a jackpot close to a billion dollars. So it is the point.
@henrylivingstone2971 what point is it you think you are making that is of any relevance to the topic? I am making the point that no European country taxes lottery wins...ever. even if a person in the US wins 200 million, by the time they pay all taxes, they only come out with around 50-70 million. A person winning a 100 million jackpot in Europe will get 100 million. The max jackpot is not important, it's the fact that we get to keep it all. Oh and just for reference the only reason the Euro Lottery never goes over 200 million is because that is the cap. Anything beyond that goes to charity so you know what...I'll stick with saying ours is the better one.
When i win the lottery, im buying the best washer and dryer i can find! 😁
He’s going to be part of that cozy 70% club of lottery winners that go broke
He ain't buying liabilities like Jets, yachts
@@bugattichiron8784 homes are also liabilities.... He would have to have at least 8% returns at 20% tax or 10% returns at 40% tax to afford what he has now
0 have gone broke over 100 milion 0
@xavierb9061 Actually not true. There is one I can think of that did go broke. Jack Whitaker won over $300mil and went broke. And that's on top of the fact that he was already a millionaire beforehand. His business was raking in like 30million a year. He had never gotten his hands on much more like when he won the lotto. Look him up. He's one of the more famous lotto winners who went broke.
Why the hate ?
Feels like a lottery tragedy in the making at the rate he’s going but I hope not…
A lot of these mansions/Properties doubled in value since 2015 so technically it’s an investment of sorts.
Do you not understand that he can always sell the property
It’s easy to rake up debate WAY past what you have. When the bank starts taking things back it’s because your accounts are empty. That said … if he is “ renting them out “ and they are bringing money in, that’s better. Three mansions in that area so close together could mean he is a landlord.
@@JBALLER02not many people have 25million sitting around lol
bankruptcy is in his future
The fact that you're doing all of these purchases in California is mind boggling, overpaying to live around a bunch of shallow people. I would much rather purchase 4x 12 mil homes. The amount of beautiful properties you can purchase for $47 million is a much better investment for the one purchase at 47 million and as I said..in California
He’s a proud, born and raised Californian. Not everyone wants to live in Montana or Texas.
Btw. The shallow people ARE the transplants. 😂
Squatters
no taxes in CA for religious properties :) he probably has 1 room of worship or a chapel in them!
I don’t know what’s weirder… Him buying his third mansion… or you guys keeping track of that hahahaha I really have no idea why he needs 3 mansions for.
That’s not weird at all. He’s a billionaire and real estate is smart. You can’t comprehend spending that much because you aren’t rich.
@@Fourtune1 even if I were rich, I don’t see why would I need 3 mansions for. If it’s investments, there’s a lot of things you can invest on
Tax reasons and he could transfer the deed to a family member for them to sell so they also become millionaires.
He's not a billionaire. He made 600 million (not 1 billion)
@@jaykaynum5569 If he have good financial advisors and planers the smart thing to do is keep $100 million buy a few homes and invest $500 million in banks saving with returns every month, safe stock investing, and companies that pays dividends, in one year that 500 million would be worth 1 billion.
I wish i could just fix our house full of termites
Don't wish but believe 🙌🏾🙌🏾 prayers to u
If he put that money in a trust we wouldn’t have known
Let’s take a minute to recognize how ridiculous it is that Uncle Sam took 1.3 billion dollars from the so called 2 billion he won. What a fkn joke Now to all of you wondering why he’s spending his money in real estate, he’s parking his money If he holds on to these properties for 10-15 years he ll make great money. He just better be smart enough to understand that if those houses sit vacant, the maintenance cost are HIGH I wish him good luck. Too many negative comments in here
He’s not complaining
Only broke ppl hating lol. Great comment
They still do take allot of taxes though. Even more if they take out state taxes.
@@Youngerick1990 yea lucky got him they said California left it alone
That's insane taxes🤯🤯🤯
76 million dollars in the first month sunny !! ,I see it coming 😂😂😂😂😂😂😂😂😂
Yea and he still has another 800 million to play with. But of course he will spend alot first. That's normal. Even if he loses more on the property it's still something he could always sell. What should he do?? Not spend his money lol
@@brotherLee340no, he only had $620m to play with , total after all taxes.
You think he paid the full prices for those houses? 😂😂😂 Tell me you don’t understand real estate without telling me you don’t understand real estate.
@@MsVamPireChic he has 4 mansions in LA , let that sink in. The most expensive one being $47 million , he is burning money like a fire pit and he is paying full price clearly he feels financially invencible
11 bathrooms and 7 bedrooms 😆 what?
I wouldn't pay for security guards. Just get a license to carry a gun.
That’s the worse thing you can do
I’m winning the powerball this year when it gets over $1billion. I will help animals, the poor and I wont buy 3 mansions in one city.
The Powerball should reach $1 billion sometime in the first week of October 2023
amen 🙏🏾 ❣️👏🏾👍🏾❣️✨, give grace to the heavenly spirit
it will be interesting to see where he is in 5-10-15 years
Working back at his old job.
Cats like THIS win the lottery while the rest of us work our a*** off? Come on..... Security; granted. 3 homes? Unless he plans on renting them or holding on to them so the value goes up; cool. But somehow I doubt it....
@@BlueHerron483 lololol!
Its a smart move, I would do that too, I would buy a house for my parents brother and sister, then transfer the deed of the home to them and when they sell the mansions, they will also become millionaires, that way my family won't just bother me for money.
🤦♂️ are you also going to pay property tax/ maintenance/ light bill for them too until they sell it..its the worst thing someone can do ..buying several million dollar homes with a set amount of money when no revenue coming in.
@@jayrification The interest from saving or dividends can pay for that entire upkeep for years, also buying a million dollar home in Montana or Wisconsin might take months, years, to resell selling a home in a hot real estate location like Hollywood hills you will have no issues selling that house even international banks would buy that house because there's always people with a ton more money than you, that will want to buy you're home if it's in the right location.
That is a good idea, however most of the people who can actually afford these types of homes are too few and the mortgage, taxes, upkeep, maintenance etc. are ongoing expenses that will quickly eat thru that jackpot fast. I hope his decisions will in fact work out for him.
That is the stupidest idea ever
@@fredyh357 Will you stupidly explain.
Good for him. He can buy a ferrari that shoots out $100 dollar bills from exhaust if he wants, or wipe his arse with $100 toilet paper rolls. I don't envy him one bit. Let him mind his business and we mind ours
The properties go up in value with time. Money is not lost at all.
I doubt it. You usually don't buy real estate on impulse. You wait for the right price. Plus millionaires replace what they spend. He's just spending lol. Plus the homes will cost millions to maintain (tax property, taxes, maintenance).
What is with all of these lottery winners and their NEED TO BUY MANSIONS??? I wouldn't even want ONE of these!!!!!
If the mansions are to be rented, then BRAVO !!...Good Going !!
There isn’t a rental market for million dollar homes. People are struggling to just get apartments
Just one one million dollar house would be enough.
Then what should do with the othe 600 mil left? Just let it rot? Go on tell me
@@ghsense2626These people in the comments don’t know how investing works. 😂
I would never live in California, it cost too much with 13.3% state income. Best bet would be Tennessee, no state income tax and one of the lower cost of living.
He has a billion dollars I don’t think he’s worried about cost of living lol
@@SuperHeroGod$600 million after taxes
@@XANSEM only 600 mil? He’s definitely penny pinching then
@@SuperHeroGod In five years he might be broke!!!!!
@@ronsmith7739 You wish lol
Well . .don't forget about the property tax I don't know how much is the property tax on a mansion but my house is $10000.00 yearly
Why do you pay property tax if it is your house? I live in Slovenia and we don't have to pay property tax for something that's ours.
@@Bojan_V in Daly City California we pay property tax!! Even though the house is paid off we still have to pay property tax or else you are out of the house and into the streets!!
@@thecloudwhisperer9701 So who is collecting property tax and why? State of California or the Usa government?
@@thecloudwhisperer9701really
both @@Bojan_V
I wonder how much the monthly upkeep is on those mansions 🤔 Plus 3 full-time security men
He is going to be broke in 5 years.
@@markjou9799 No, he’s not. These homes are an investment. They’ll appreciate in value and he’ll be able to sell them for more than he paid. You just don’t understand how rich people make money. 😂
@@MsVamPireChic I understand how rich people make money when they earn it themselves. I just heard too many horror stories of lottery winners going broke within a few years after their winnings 😂
I would spend slower but California RE is always a good investment. If he has his $600M parked somewhere at say 5% then he's generating $30M every year and can pay those houses off quickly, and not touch his principal. Once they are paid off he's still got his $600M and still generating $30M a year.
Real-estate smart
Why doesn’t he use a trust to buy his houses so nobody will know it’s him buying them?
He can't cause he's already a public figure
I don’t hear anything about investing in index funds and bonds and residential and commercial real estate. Invested like that, his fortune could bring in $1.5 million per month for the rest of his life
He probably has all that as well. But this us more public. Either way dude has over 800 million left. Yall forgetting just how much money he has.
@@brotherLee340 if he invests his money to bring him $1.5 million per month, he’d have $60 million at best to play around with. The rest would have to be invested if it is to bring him money indefinitely
@@brotherLee340He got $627m ( something like that ) after all taxes
Because hearing about his boring investments don't inspire views and comments. The media are praying on his downfall just as much as jealous fools.
Maintenance, Taxes and possibly HOA fees is enough to drive me away. I’ll go the buffet way . If he would’ve held for 1 year in the SP500 (Voo) currently at 15 % YTD . 627 mil X 15% = $95 mil
Bloody heck . 95m for doing nada
That's insane. If I understand correctly VOO is is SP500?
@@kempowarrior currently @ 20% ytd!
He gon be just fine wait til the compound Interest on what he has left start to roll in every mth/ 3mth do the math at a shamless 4% Roi he can pay the bills off of that
In South Africa 🇿🇦, you don't have to disclose your identity for safety purposes 😂😂. But why in US they disclosed their identity?
It's not all states. A good majority of states allow you to claim your price anonymously. Not California though.
It's supposed to uphold the validity of the lottery, assure the public that there are real winners. However, very slowly more states are moving towards anonymity for the safety of winners
"Serenity now" Frank Costanza
Invest that money Edwin! Think about your future! Take care!
Property taxes are forever…I would invest and disappear
Can’t die with it either he spends it or someone else will besides if he goes broke he has about 75 million he can recoup on those cribs
Oh! One more thing with all the money you are spending on those Mansions in California. You better think about the upkeep in 5 or 10 years. Just Sayin!!
There’s no way I would give up $1.1 billion just to get a lump sum. That is the dumbest thing I’ve ever heard of.
Not really, if you have a good finical team you’ll make more than 5% a year which give you that billion, or else he would have only gotten on payment so far he’d only have $20m for this entire year til next years payment of $22m lol
@@londonbe240And no one knows what will happen tomorrow ...
The sad part is everyone knows who he is. He can be spotted driving that loud white Porsche poor kid
GOD IS GREAT
Not only that but he bought them in the worst state to own properties.
I wouldn't want or need all of that.
Yea but its partially an Investment.
The video images are a mess. Lots of mis-matched stock footage 😂
He now spent around 10% (over 80 million, Hollywood mansions) in 6 months lol. If I bought a flamethrower and literally burned money all day this couldn't happen.
God bless him
I can only imagine
I would’t spend more than 10 million a year at the absolute max.
If you go broke with that much money that be a shame.
all those houses, and id still be only using one big room for the newest video games on a super expensive pc setup.
He spending on an alarming rate of being broke in less than 3 years
He is not spending, He is investing in Real estate
He is not spending, He is investing in Real estate
The security guards are also not trustworthy, they also want your money, it's best to have close family stay there
No need for mansions!!!! He could buy small homes. A lot of small homes for rental properties. I feel like he is going to be broke eventually. But its not my money so he can spend it like he wants.
When I win the euro millions jackpot and the 10k a month for 30 years set for life, I'll be buying properties, renovating them and renting them.
clearly no financial advisors around him
That last house seems awesome
When you say he has no income coming in, doesn’t he earn a ton of interest from having all those millions in the bank ?
Interest acquires over time but if you just rely on interest you’ll get like 3% a year. If he put away $500m and never touched it it would make him $18m a year, but he is spending a lot more than $18m a year so he’s not acquiring that interest
He needs to go into hiding.
I would take the money in payments. I probably would buy a house in the Desert that would be my first purchase. The cost no more than a million dollars. The next one in Newport Beach for 2 million or 3 million dollars and third house in Las Cruces, New Mexico where my aunts are nearby in El Paso, Texas. The view of the Organ Mountains is so Beautiful. The Houses there are less than a Million for a Beautiful house on an acre property. I am done. Just be careful who your friends are. That is what I was always told growing up.
I’d buy a big property out in the country and just live peacefully.
That last house is like the typical price for a house in certain parts of Cali, there’s a one bedroom house in Compton that cost a million so that last house is a more reasonable purchase which is a win with all that came with it for only 4million
Compton has very nice suburb areas to... even for a 10 square mile city with its history. I was born there in 1983
He will be in the bridge card line in 3 yrs😂
I wonder what my homie Edwin doing now
All i needed was two more numbers and I could have split it with him damm.
How much did you win
@@londonbe240 $500
I don't think people understand how much 600 million really is that's enough for your entire lifetime and even your children's what people don't comprehend is that you cant just have your money sitting in the bank you have to invest it in order to build more wealth it can be through stocks or real estate I assume he has a team of professionals what if he bought that Bel Air for air bnb so much you can do but most yall like to hate cause you dont have any of that
You deserve it Edwin 😂,
That IS something interesting to think about: from a small CAVE & bonfire few thousand of years back in history now suddenly a simple person apparently needs at least 3 mansions over 20 million each?? Anybody has a good explanation for that? (please share the explanation with us). thanks.
The annual taxes alone on those properties will swallow his fortune faster than anything.
Well we will see. Dude has generational wealth. Even basic conservative investments, he should be set for life and not even have to touch his principal
He's only 30 when he won the jackpot. So he should have taken the annuity
Wow I'm super early. Also first 🥇
Want a cookie 🍪 😫 😩
Nobody wants these high dollar houses. I'm sure the time of ownership is short and this stuff is always back on the market... Dont spend any money, compound that interest!
3 years and he will be back to normal
How about buy land outside developing areas... keep land for future development, or make it a "passion project."
Why not buy land and houses and rent them out instead of spending so much millions on a house? Bro wise tf up!
Hopefully those are for family. Nobody needs 3 mansions.
I like the $4 million dollar mansion.
Did he buy “The One” Mansion?
It’s the same as saying he spent $45 out of $600. He’ll be broke if he continually spends like this without out any investments without returns
This guy's gonna be broke in 5 yrs! No income, but 1 mil per year on security!?
Why would you ever need three mansions?
Guess he's sharing, right??
Hope he put his money in something that's bringing him in profits...hope he created a generational wealth buying all them dam house's he don't need
Tiene una demanda de robo del ticket asi que lo que hace es invertir el dinero para que cuando se termine la demanda y en caso de perder el dinero quede invertido con nombres diferentes creo yo
He’s investing
The best home was the 4 million one, plenty big and modern. The 25 million one was ugly it sits on a rock.
Take the long term payout and invest in your health.
Let him live people don’t really know how much money that is all you see is him spending that don’t mean he doesn’t has assets 997.6 to be honest it’s no one’s business
Why do we have to pay taxes on a Lottery win 627mill out of 2.04bill!!! Also he is worth way more than Jennifer Aniston and Taylor Swift so he can afford his security bill. He is not losing with those properties in LA. New Construction plus location, he will make a ton on resell.
3 houses in California? Wait tell he starts to travel and finds out the have houses in other countries. Am I the only one that would have save my money to hit over a billion in the bank.
Security at $1 million per year and he is only 30 years old. That money is gonna be gone in less than 10 years.
Mansion taxes property taxes HOA security guards at $1 million maintenance upkeep…. It would be interesting how long that money lasts.
Good for him. One of the mansions could be for his mother and father.
A nice house would be enough.
Look like he's going to be part of the stat. Which means going broke within 10yrs after he won the jackpot.
That stat is false. Also a return of 8% in the stock market pays for the taxes on the homes + profit. Lol you people are so jealous and hateful.
You don’t need security or mansions
Can someone explain to me this US thing of having 7 bedrooms and 11 bathrooms. Like are you all going to the toilet at the same time or what?
Imagine 7 ppl living in that house and all went to toilet at the same time and still 4 bathrooms are all alone 😂