Edwin Castro, the newly minted billionaire and record-breaking $2 billion Powerball jackpot winner, is taking significant steps to rebuild his hometown of Altadena by investing approximately $10 million in properties affected by the devastating Los Angeles wildfires.
Castro, who won the monumental jackpot in 2022 with a ticket purchased at Joe’s Service Center in Altadena, shared with The Wall Street Journal his motivation behind the investment. “This is for a family that wants to move in. Those are the people that need to be looked out for right now,” he explained. His focus is on helping families settle down in the community by rebuilding single-family homes that maintain the neighborhood’s whimsical charm—a vision that even extends to his own personal “Willy Wonka-esque” residence.
While $10 million might seem like a substantial sum, it represents just a fraction of Castro’s fortune. However, he is clear that this rebuilding effort is not a giveaway. “The profit margin doesn’t need to be egregious… But I’m not building these homes just to give them away,” Castro said. His responsible approach has earned him the trust and confidence of local residents, who appreciate that he’s one of their own. Contractor Joel Bryant commented to the Journal, “I feel better about him than anybody else because he’s from the area.”
Altadena faced severe damage earlier this year when the Eaton Fire destroyed roughly 9,000 structures. Additionally, the Palisades Fire devastated tens of thousands of acres and thousands of properties in the Pacific Palisades area. Although cleanup efforts have largely concluded, the rebuilding process is progressing slowly—making Castro’s commitment all the more impactful.
This initiative by Edwin Castro not only represents a significant financial investment but also embodies a dedication to restoring a community deeply affected by natural disaster. Through his efforts, families looking for a fresh start in Altadena may soon find new homes and renewed hope.
