Historic Powerball winner Edwin Castro loses Malibu home in Palisades Fire

Edwin Castro, the record-breaking winner of the $2.04 billion Powerball jackpot in November 2022, has lost his Malibu beachfront property to the devastating Palisades Fire.

A $3.8 million loss

Castro had purchased the 2-bedroom, 3-bathroom home for $3.8 million shortly after his historic win. Situated with direct access to the beach, the luxurious property was completely destroyed in the massive blaze, which has consumed 23,713 acres as of Monday and is only 14% contained, according to CalFire.

Other properties remain intact

Despite the tragic loss of his Malibu home, Castro still owns several high-value properties that were unaffected by other nearby fires.

• In March 2023, Castro acquired a Hollywood Hills luxury complex for $25.5 million.
• Around the same time, he purchased a 5-bedroom, 5-bathroom home on Midlothian Drive in Altadena.

Neither of these properties sustained damage from the Sunset or Eaton Fires, according to various reports.

Life after the historic jackpot

Castro won the Powerball jackpot after purchasing the winning ticket at Joe’s Service Center in Altadena. Opting for a lump sum payment of $997.6 million, he has invested much of his winnings in high-end real estate.

While the Palisades Fire has brought tragedy, Castro’s remaining properties ensure he retains significant assets and a place to rebuild.