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Posted by
Message
$2B Powerball winner is already burning his money up
Posted by The Egg
on 9/20/23 at 9:02 am
55
1quote:
He Won the $2 Billion Powerball Jackpot. Now He's Snatching Up Swanky Homes Across Los Angeles.
quote:
Castro collected a lump sum payment of $628.5 million after taxes.
He's purchased three fancy houses in the Los Angeles area so far, paying $47 million for the latest.
quote:
Remember Edwin Castro?
He won a record-breaking $2 billion Powerball jackpot earlier this year and opted to take a lump sum of $998 million.
He's already spent $76 million acquiring 3 mansions in California.
His most recent purchase is a $47 million compound in Bel Air.
LINK
re: $2B Powerball winner is already burning his money upPosted by OldHickory on 9/20/23 at 9:03 am to The Egg
on 9/20/23 at 9:03 am to The EggCompeting with Blackrock.
re: $2B Powerball winner is already burning his money upPosted by GeauxxxTigers23 
on 9/20/23 at 9:03 am to The Egg
on 9/20/23 at 9:03 am to The EggI can think of worse things than Southern California real estate to spend the money.
re: $2B Powerball winner is already burning his money upPosted by Arkapigdiesel 
on 9/20/23 at 9:04 am to The Egg
on 9/20/23 at 9:04 am to The EggHe'll wind up broke, and owing more in debt than he thought was imaginable. Then, he'll kill himself.
re: $2B Powerball winner is already burning his money upPosted by omegaman66 on 9/20/23 at 9:06 am to GeauxxxTigers23
quote:
I can think of worse things than Southern California real estate to spend the money.
I can't!
re: $2B Powerball winner is already burning his money upPosted by GetCocky11 
on 9/20/23 at 9:06 am to dukke v
on 9/20/23 at 9:06 am to dukke vquote:
So…. It’s his money, let him spend when he wants….
We're allowed to have an opinion.
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re: $2B Powerball winner is already burning his money upPosted by Black n Gold on 9/20/23 at 9:06 am to The Egg
on 9/20/23 at 9:06 am to The EggHe definitely has one of those friends or family memebers that flipped one two bedroom house, profited $2K, and now constantly talks-up real-estate.
re: $2B Powerball winner is already burning his money upPosted by StringedInstruments 
on 9/20/23 at 9:07 am to SG_Geaux
on 9/20/23 at 9:07 am to SG_Geauxquote:
Sounds like he is investing
Yep. Taylor Swift owns like 11 estates across the world.
Do people believe you can just park $600+ million in a bank account?
I mean it sounds like he's investing at least (hopefully anyway) but...
quote:this would definitely be my play after paying off debt and buying a nice, but modest, house.
Put the money in a high interest account and live off of the interest.
re: $2B Powerball winner is already burning his money upPosted by dukke v 
on 9/20/23 at 9:08 am to GetCocky11
on 9/20/23 at 9:08 am to GetCocky11You would do the same thing and you know it…..
Sounds like he's doing the California "buy, hold and sell" investment program. This may be an investment move that involves advisors and real estate agents. If you have cash and need investment vehicles with a low risk of depreciation, if done well this may produce good results.
re: $2B Powerball winner is already burning his money upPosted by Roy Curado on 9/20/23 at 9:10 am to The Egg
I like how everyone becomes a financial advisor to a billionaire on this platform.
Maybe he is spending a lot on real estate but that isn't frivolous? Real Estate is an investment...
Good for him and I hope he lives a very relaxed life now.
Maybe he is spending a lot on real estate but that isn't frivolous? Real Estate is an investment...
Good for him and I hope he lives a very relaxed life now.
re: $2B Powerball winner is already burning his money upPosted by GetCocky11 on 9/20/23 at 9:11 am to dukke v
on 9/20/23 at 9:11 am to dukke vquote:
You would do the same thing and you know it…..
Buy multiple houses?
I'm not an idiot, I would make safe investments, set up my family, and live a modest lifestyle full of travel and maybe get a low-stress part-time job.
quote:
this would definitely be my play after paying off debt and buying a nice, but modest, house.
You do you, but if I get over 600 million, modest house isn't the first thing on my mind
Diversify among lots of interest accruing accounts along with real estate is certainly not a bad idea. Not sure this guys plan, but it's not like many idiots of the past spending it on hookers and cocaine.
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