The Untold Story Behind the Lottery Millionaire's Investment in This Place

Investing in a Hometown Devastated by Wildfire

A man in his 30s who became an overnight millionaire through a lottery win in the United States has invested a large sum of money to help revive his hometown, which was devastated by a wildfire.

According to the Wall Street Journal (WSJ), Edwin Castro, 33, who won the top prize in the U.S. Powerball lottery in November 2022, recently purchased fifteen residential lots in his hometown of Altadena, California, for $10 million (approximately 14.32 billion won). This area was severely damaged in January this year by the massive Eaton-Palisades Fire, which destroyed more than 9,000 homes.

Powerball Ticket. Photo by EPA Yonhap News

Although nine months have passed since the fire, recovery efforts have been slow. As more residents choose to sell their land and leave rather than rebuild, the town has become virtually deserted. The WSJ reported, "In this situation, Castro's large-scale land purchase is rekindling hope for the community's reconstruction."

Castro is a native of Altadena, having been born and raised there. In 2022, he won the top prize with a lottery ticket he bought at a local gas station in his hometown. Powerball boasts the highest jackpot of any lottery in the United States, with the odds of winning the top prize being just 1 in 292.2 million. At the time, because there had been no winner for an extended period, the prize money rolled over and accumulated to $2.04 billion (approximately 2.92 trillion won). Castro chose to receive a lump-sum cash payment of $768 million (approximately 1.0996 trillion won).

Altadena, reduced to ruins by a fire in January this year. Photo by AFP Yonhap News

Regarding this investment, he said, "It doesn't have to be hugely profitable, but it's not just a charitable act either," adding, "I want to see my hometown come back to life." He also revealed plans to build a new house in Altadena and live there with his family.

The WSJ commented, "Although the scale of Castro's investment is not large compared to his total assets, it carries significant symbolic meaning for the local community," and added, "His actions are inspiring Altadena residents with the courage to start again."