Powerball winner Edwin Castro utilizes $2 billion lottery fortune in helping rebuild fire-scorched Altadena

Nearly a year after wildfires tore through California’s Altadena, destroying thousands of homes, one among the community’s most famous residents is helping rebuild it. Powerball winner Edwin Castro, who won the record $2 billion jackpot in 2022, has spent $10 million purchasing 15 fire-scorched lots with the goal of restoring his hometown, The Wall Street Journal reported.

The 33-year-old who bought the winning ticket at an Altadena gas station has emerged as one of the largest post-fire land buyers in the San Gabriel Mountain foothills. The Eaton Fire, which burned alongside the Palisades blaze in January, destroyed more than 16,000 structures and killed at least 31 people, leaving Altadena’s tree-lined streets reduced to ash and debris.

All about family for Edwin Castro

Speaking to The Wall Street Journal, while touring one of the recently purchased lots, Castro said, “I want to rebuild this place for families who want to live here.” He added even though he was not building homes to “give them away”, but believes profit margin should not be egregious.

Castro, the son of a construction worker, said his goal is to create single-family homes which retain Altadena’s pre-fire charm. He told the news outlet that he wants it to feel like the old neighborhood “like if you put all those houses pre-fire in a time bubble”. He is also planning to build a personal home in the area, a whimsical, Willy Wonka-inspired property complete with underground rooms.

Locals divided over rebuilding plans

According to The Wall Street Journal, residents appreciate Castro’s local roots, but others worry about the wave of outside investors who have begun purchasing burned-out lots. A petition to block investor purchases has already gathered over 1,500 signatures, with some fearing the community will lose its small-town feel.

Altadena was historically a hub for Black homeownership with families establishing roots during the mid-20th century when redlining kept them out of other neighborhoods. Rising property values and post-fire buyouts have sparked concern that gentrification could erode the area’s diversity.

Still, some locals see Castro as a positive force. Zaire Calvin, a resident, told The Wall Street Journal, “Billionaires should be the first ones in line to help.” Calvin lost his family home and sister in the January fires. He observed that a collaboration with Castro “would be great”.

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Rebuilding Altadena, one lot at a time

Castro is bringing in a small team of professionals to help lead the enormous 10-year rebuilding agenda, including a design consultant and architectural planners. Plans have already been submitted to the city for the first two Craftsman-style homes with the attached residential unit.

Although Castro is wealthy, he claims to be building it because it is a passion rather than wanting to build a business empire. "It's too much work," he said. "Think about a 10-year project. That's a good part of your life."

For the residents of Altadena, his investment may be a turning point — that rebuilding has, albeit slowly, started again.

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FAQs

Who is Edwin Castro?

Edwin Castro is the winner of the record $2 billion Powerball jackpot from 2022. A native of Altadena, he is now investing millions to rebuild his fire-ravaged hometown.

How much land has Castro bought?

He has purchased 15 lots in Altadena, spending around $10 million.

What are his rebuilding plans?

Castro plans to build single-family homes for local families and a personal residence.