Posted on 01/10/2025 7:39:46 AM PST by V_TWIN
Powerball winner Edwin Castro’s multimillion-dollar Malibu getaway has been destroyed in the horrific Palisades Fire, reducing the once-luxurious digs to a pile of ash. After the deadly fire tore through the area, all that remained of Castro’s $3.8 million home was concrete pillars and smoldering wood, photos obtained by The Post show. The destroyed Malibu abode was one of several Castro purchased after he won the historic $2.04 billion prize back in November 2022.
(Excerpt) Read more at nypost.com ...
With $3 milli9n a month, it would be a full time job figuring out how to spend it. I’d probably give it all to climate change efforts.... /s
You can’t take it with you and some of those things are able to hold their value while you enjoy them. However, the taxes on the Malibu house are probably out of this world expensive.
In pretty much any other state that house is pretty much a double-wide.
Location Location Location
Back in the 90s a bunch of people had to relocate from the Alameda area to where I am in north Florida......I saw a few pics of some of the houses they sold before moving......crackerboxes was the word that came to mind but they sold for absolutely STUPID money.....so much so, one couple was able to purchase a home in a country club here.
Poor guy. Now he’ll have to dig deeper into the couch to find the money to rebuild.
You’d be buying a home worthy of your new status for, say, $25 million?
Why would these people spend millions of dollars on homes right next to the busy & noisy PCH?
“Right next to the ocean and no water available.”
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With periodic firestorms you’d think that the state or city would have a couple of fireboats for shoreline fires.
“When these lefties have to deal with the beauracracy and red tape it’s gonna be a real reality check.”
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But not if they have friends in high places. Knowing (or donating to) the right people can greatly expedite whatever it is you want to do. Just saying.
“all that remained of Castro’s $3.8 million home was concrete pillars and smoldering wood”
Wrong. The most tangibly valuable part of the property is the ocean-front land which is just fine.
I would also add that it is completely insane not to use freely available seawater to put out the fires of homes that are literally on the ocean. I understand not wanting to “salt the earth” where other homes are, but the land at the edge of the sea has already been salted.
Easy come, easy go.
Getaway. You didn’t get a billion dollars cash windfall.
“If I won $2B? Lets say you keep $1B after taxes. That generates $40 Million in cash per year easy without touching the principal.”
The $2 biili9n is the sum of future payments. He took the lump sum option which was about $998 million before taxes.
This is Mother Earth showing the liberals the door.
“However, the taxes on the Malibu house are probably out of this world expensive.”
Much less than on his $25 million mansion.
The ocean front home, was pretty much a safe investment, if handled properly. That one looks like 4 single-wides parked next to each other. I guess, 2.8M doesn’t get you much under communism.
I have an ocean access home in FL. with my boats parked out front, that I paid less than 1/10th of that price.
Cars? They can be, but a person had better do his homework first.
Why does his residence look like an glorified trailor on metal stilts???
Not knocking trailors.
I lived in a beautiful 1950s single-wide trailor when I was first married. It was stunning in it’s quality.
“but lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:”
Then I'd buy a $500,000 condo in southern New Hampshire (within driving distance of Boston hospitals and Logan Airport). That would be my legal residence. I'd buy a small $500,000 condo/coop on the Upper West Side of Manhattan.I'd buy a $500,000 condo in the Sarasota/Bradenton area of Florida. I'd buy a Porsche Panamera (about $125,000).I'd spend a few thousand on clothes. And I'd put the rest in safe investments (maybe even Treasury bonds).
And when I died I'd leave a good chunk of $$$ to my loved ones.
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