The winner of the record-breaking $2 billion Powerball jackpot has wasted little time enjoying his newfound riches—and he’s been focused on California real estate.
Edwin Castro bought the winning ticket last November at a Mobil gas station in Altadena, about 30 minutes outside Los Angeles. He came forward to claim his prize in February, choosing to receive nearly $1 billion in cash, which after taxes came out to about $628 million. The other option was to collect the full prize through an annuity over 29 years, which many financial advisors consider the better strategy.
