Powerball Winner Edwin Castro Invests $10 Million in Fire-Damaged Altadena

California native Edwin Castro, who made headlines for winning a record $2.04 billion Powerball jackpot in 2022, is taking significant steps to aid his community. Castro has invested approximately $10 million to purchase 15 properties in Altadena, California, an area recently devastated by wildfires. His plans include rebuilding homes for families affected by the destruction, demonstrating a commitment to restoring his hometown.

During a recent walkthrough of one of the fire-impacted neighborhoods, Castro expressed his intention to create a welcoming environment for families looking to settle in the community. “This is for a family that wants to move in,” he stated to the Wall Street Journal. “Those are the people that need to be looked out for right now.”

The Altadena area has attracted attention from several wealthy investors, according to the Wall Street Journal. Notably, a San Diego developer and a Los Angeles-area hospice executive have also made property acquisitions in the region, responding to the aftermath of the catastrophic fires. These investors have often purchased properties from residents who opted to cash out rather than face a prolonged rebuilding process.

The fires that struck in January 2025, namely the Eaton Fire and the Palisades Fire, had devastating effects, claiming over 30 lives and destroying more than 16,000 structures. Recently, authorities charged Jonathan Rinderknecht, a 29-year-old local, with igniting the Palisades Fire, which became one of the most destructive wildfires in the area’s history. Investigators are still working to determine the cause of the Eaton Fire, but federal officials have filed a lawsuit against Southern California Edison, alleging that its equipment sparked the blaze.

Castro, who works as an architectural consultant, aims to preserve the “whimsical” character of Altadena as he embarks on his rebuilding project. “I want it to feel like the old neighborhood,” he remarked, emphasizing his desire to maintain the community’s charm. He plans to sell the newly constructed homes at market value to families who intend to live there long-term. “The profit margin doesn’t need to be egregious. But I’m not building these homes just to give them away,” he clarified.

While Castro’s intentions appear to be focused on community restoration, the influx of investors has raised concerns among local residents. A group advocating for resident interests has labeled this phenomenon a “second wave of disaster,” initiating a petition that has garnered nearly 1,500 signatures to prevent investors from acquiring land in Altadena.

Most of the development plans from these investors are geared toward single-family homes, although some have proposed larger multifamily buildings. Despite the mixed reactions, a spokesperson for Castro stated that he considers Altadena his home and is dedicated to investing in its recovery. “They love and care about the Altadena community and saw an opportunity to invest in it that would also help some impacted homeowners move forward while helping it retain its character and charm,” the spokesperson noted.

As for Castro’s broader plans, he indicated that the development could take up to a decade to fully realize. He intends to honor the existing architectural landscape while adapting to the needs of families looking to rebuild their lives in Altadena. “Many people who were affected by the fires in Altadena cannot or do not want to rebuild and aspire to move on and start over elsewhere,” the spokesperson added, highlighting the dual nature of the investment’s impact—assisting displaced residents while fostering local ownership.