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Posted: 3/7/2023 10:16:44 PM EDT
[#1]
Quoted: In a prepared statement Castro said: 'As much as I am shocked and ecstatic to have won the Powerball drawing, the real winner is the California public school system.' The education system will receive over $150 million as a result of the win. lol... |
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Posted: 3/7/2023 10:17:21 PM EDT
[#2]
Quote HistoryQuoted: When I was daydreaming about winning that much money not once did I think about buying a mansion in California. This !!! |
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Posted: 3/7/2023 10:18:12 PM EDT
[#3]
Quote HistoryQuoted: And in a few years it will be worth a fraction of that and unsellable. In the Hollywood Hills, he can always get most, if not all, of his $25M back if he tires of California.  Yes, some people build mansions in areas where there is a nonexistent resale market for such homes, but it's not like Hollywood is the only viable option. |
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Posted: 3/7/2023 10:18:23 PM EDT
[#4]
Quote HistoryQuoted: 25% of his total winnings on a single house. He will be broke within 2 years. ETA: I read it as him taking home 100 million. So yes, I know my math is off. 2.5% of cash available it pretty small amount for a house, and it's paid off. |
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Posted: 3/7/2023 10:20:39 PM EDT
[#5]
Quote HistoryQuoted: California does not take income taxes out of lottery winnings. Quote HistoryQuoted: Quoted: Quoted: Over a billion in taxes? Fuck. ETA Or was it the lump sum payout, after taxes? I believe that was the lump sum payout after the 24% withholding. That amount is likely still subject to the overall 37% fed rate(minus the 24% withholding) and State income taxes. California does not take income taxes out of lottery winnings. Was surprised to learn that. I knew a handful of states don't tax winners but never guessed one of them was Cali. |
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Posted: 3/7/2023 10:21:30 PM EDT
[#6]
I’ll bet the neighbors are stoked about this! There’s about to be a party in the hood LOL
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Posted: 3/7/2023 10:23:37 PM EDT
[#7]
Quote HistoryQuoted: Trusts can own real estate. I'd look into buying land through a trust in a State that did not require you to put trusts on file with the State. Pay lawyer to pay the taxes. Quote HistoryQuoted: Quoted: If you walk away with 700 million or so you'd figure that you would have the necessary money to hire a team of professionals to hide everything you do behind a series of trusts and legal entities that aren't obviously you. Trusts can own real estate. I'd look into buying land through a trust in a State that did not require you to put trusts on file with the State. Pay lawyer to pay the taxes. What about buying real estate through LLCs? Is that a good way to hide the real owner of property? |
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Posted: 3/7/2023 10:24:10 PM EDT
[#8]
Quote HistoryQuoted: The guy's name is literally, Castro! Where the hell else but Kommiefornia would he go? Canada |
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Posted: 3/7/2023 10:24:43 PM EDT
[#9]
Quote HistoryQuoted: Maybe this guy doesn’t want to live on a ranch. Quote HistoryQuoted: Quoted: I see John Paul DeJjoria (Paul Mitchell Hair Products founder) in my grocery store. He lives a pretty normal life on ranch. Being a billionaire is not difficult if you have a little common sense. Maybe this guy doesn’t want to live on a ranch. Nothing wrong with that, my point is you can live where ever you want to and blend like every one else. GD makes it sound like such a burden to be wealthy. |
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Posted: 3/7/2023 10:25:03 PM EDT
[#10]
Quote HistoryQuoted: Babes. That's also a dumb way to do it. You have a weekend condo at the beach for that. Keeps the crazier ones out of your life. In that area you can roll around in a neon Lamborghini and not get a 2nd look. A 200k land rover is just the family car. |
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Posted: 3/7/2023 10:27:57 PM EDT
[#11]
Quote HistoryQuoted: What would you do with 4 ranches? Lease some of them out? Quote HistoryQuoted: Quoted: I had ranches picked out in MT, WY, ID and TX totaling $50 million. It's stupid to stay in cash unless you can get some of that sweet 5%+ on t-bills, cd's and money markets. What would you do with 4 ranches? Lease some of them out? I wouldn't own 4, maybe two. 
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Posted: 3/7/2023 10:28:02 PM EDT
[#12]
The education system will receive over $150 million as a result of the win. In a prepared statement Castro said: 'As much as I am shocked and ecstatic to have won the Powerball drawing, the real winner is the California public school system.' That's a total lie. Both of my parents worked in the California school system and my mother was involved in school budgeting. At least in the 1980s the State of California wouldn't add the lottery money to the budget, they just decreased how much the districts received by the same amount. If that wasn't clear I'll give an example. A school has a 200k budget, the lottery comes in with 50k for the school so California then only gives the school 150k and they keep the rest for commie shit. |
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Posted: 3/7/2023 10:36:42 PM EDT
[#13]
Only $947,000,000 left.
He can only spend 1.7 million a year. |
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Posted: 3/7/2023 10:44:14 PM EDT
[#14]
Quote HistoryQuoted: Math is hard. He won $2.04 billion pre tax . $997 million post tax Wrong, that was the cash value, he still has to pay taxes on $997 million. 
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Posted: 3/7/2023 10:54:49 PM EDT
[#15]
By choosing the lump sum, Castro receives $997.6 million, but that's before taxes. USA TODAY estimated the winner of the jackpot would probably be left with $628.5 million after taxes, assuming no other deductions.
fwiw |
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Posted: 3/7/2023 11:01:02 PM EDT
[#16]
Quote HistoryQuoted: What about buying real estate through LLCs? Is that a good way to hide the real owner of property? LLCs have to register with the State they're formed in and the officers are public info, I think. |
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Posted: 3/8/2023 12:08:11 AM EDT
[#17]
Quote HistoryQuoted: $25M on that in the PRC when he could have spent $25M on this? Idiot.  https://www.youtube.com/watch?v=Mw_AJOYzt0wVERY well done, needs lotsa kids to make it pay off. Helicopter delivered teaching? Needs shooting range. Getting too old now 
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Posted: 3/8/2023 12:11:21 AM EDT
[#18]
Quote HistoryQuoted: VERY well done, needs lotsa kids to make it pay off. Helicopter delivered teaching? Needs shooting range. Getting too old now Quote HistoryQuoted: Quoted: $25M on that in the PRC when he could have spent $25M on this? Idiot. https://www.youtube.com/watch?v=Mw_AJOYzt0wVERY well done, needs lotsa kids to make it pay off. Helicopter delivered teaching? Needs shooting range. Getting too old now The shower fits 3.
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Posted: 3/8/2023 12:15:02 AM EDT
[#19]
Quote HistoryQuoted: Statistically, he'll be broke within a few years. Statistically, most broke dick lottery winners never won a billion in cash. |
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Posted: 3/8/2023 12:15:58 AM EDT
[#20]
Good for him.
Hope he doesn't lose sight of what is really important. It ain't those dollars. |
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Posted: 3/8/2023 12:18:38 AM EDT
[#21]
Quote HistoryQuoted: I'd buy big, but not in CA. |
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Posted: 3/8/2023 12:22:47 AM EDT
[#22]
Quote HistoryQuoted: No one would ever know where I lived and it would not be California...buying some big ego box like that will do nothing but draw negative attention. This will not end well.  This. Hell, most of the people i know, especially most relatives. wouldn't have a clue where i disappeared off to. |
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Posted: 3/8/2023 12:23:33 AM EDT
[#23]
Quote HistoryQuoted: He took the lump sum and with that carries a penalty Quote HistoryQuoted: Quoted: 75% in taxes? He took the lump sum and with that carries a penalty It's not a penalty. The jackpot was never worth $2.04 Billion in the first place. $2.04 Billion was the sum of annuity payments over 29 years. That the lottery gets to advertise it as a $2.04 Billion jackpot in the first place is intentionally deceptive advertising bordering on lawful fraud. There was never $2.04 Billion set aside to pay the jackpot winner at any point from the wagers collected. |
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Posted: 3/8/2023 12:27:42 AM EDT
[#24]
Quote HistoryQuoted: I’d buy it and give it to the homeless That is Insanity Wolf level trolling, brilliant. |
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Posted: 3/8/2023 12:35:26 AM EDT
[#25]
Quote HistoryQuoted: I’d buy it and give it to the homeless 
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Posted: 3/8/2023 12:37:18 AM EDT
[#26]
If I had 2 billion dollars the only reason I would buy a mansion in Hollywood would be to burn it down for the fun of it.
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Posted: 3/8/2023 12:43:15 AM EDT
[#27]
Quote HistoryQuoted: Just google the name Abraham Shakespear…How that brother wound up is a case study in what not to do after hitting the lottery…Keep your mouth shut and quietly move far away from friends and family…Live nicely but still well below your means and keep a low profile.Never let on that you’re wealthy. https://en.wikipedia.org/wiki/Abraham_Shakespeare |
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Posted: 3/8/2023 12:49:40 AM EDT
[#28]
Jeez, I buy a personal villa somewhere in the Caribbean on a private island. Somewhere corrupt enough to where I can bribe the government to leave me alone. A place where I can have all the MGs I want.
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Posted: 3/8/2023 1:01:06 AM EDT
[#29]
Quote HistoryQuoted: All rich people are potential targets, so you just hire security. He is one of the more wealthy people there though, as he has 1B cash, He is stacked and its cool hes young and not a 74 year old dying cancer victim. hell, he's got almost 3X more than Tay Tay's entire net worth. /media/mediaFiles/sharedAlbum/taytay-177.gif Ten year treasuries are paying over 4% right now. That’s 40 million a year relatively no risk income. 40 Million. Wouldn’t be hard to beat that with very little risk. So he spent 25 mil on a house? Phhhht. |
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Posted: 3/8/2023 1:15:17 AM EDT
[#30]
Quote HistoryQuoted: Jeez, I buy a personal villa somewhere in the Caribbean on a private island. Somewhere corrupt enough to where I can bribe the government to leave me alone. A place where I can have all the MGs I want. If you don't mind the Pacific instead, Vanuatu is a fine choice. They're small enough I'm sure that kind of money could buy whatever you want. Only $150k for citizenship, no extradition treaty with the US, and a beautiful island backdrop:  Not that I've given this any thought or anything. 
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Posted: 3/8/2023 1:56:21 AM EDT
[#31]
I'd love to see the annual tax bill on that ugly piece of shit house. Los Angeles metro has got to gets their money out of this place fo sho.
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Posted: 3/8/2023 2:06:24 AM EDT
[#32]
Quote HistoryQuoted: Broke inside several years. Nearly all lottery winners are. |
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Posted: 3/8/2023 2:09:56 AM EDT
[#33]
Quote HistoryQuoted: Broke inside several years. [Austrian]Lol[/Austrian] |
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Posted: 3/8/2023 2:43:16 AM EDT
[#34]
You buy big and you never had to earn it. He’ll lose it. Just the money his dumb a$$ will pay in taxes will eat at that fortune. Not to mention the up keep.
I would buy several nice houses near some cool places and a few nice cars to get me there. You can get a smaller older house near the beach in California for a million or two. Same for Florida. |
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Posted: 3/8/2023 2:46:46 AM EDT
[#35]
Quote HistoryQuoted: Could live anywhere... and he goes to California. He deserves whatever he gets. LOL, this. |
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Posted: 3/8/2023 3:04:22 AM EDT
[#36]
Quote HistoryQuoted: Math is hard. He won $2.04 billion pre tax . $997 million post tax Quote HistoryQuoted: Quoted: 25% of his total winnings on a single house. He will be broke within 2 years. ETA: I read it as him taking home 100 million. So yes, I know my math is off. Math is hard. He won $2.04 billion pre tax . $997 million post tax Taxes are apparently hard, too. By choosing the lump sum, Castro receives $997.6 million, but that's before taxes. USA TODAY estimated the winner of the jackpot would probably be left with $628.5 million after taxes, assuming no other deductions. $628 million post federal tax. I don't know if CA takes their pound of flesh, too. |
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Posted: 3/8/2023 7:15:59 AM EDT
[#37]
Quote HistoryQuoted: I see John Paul DeJjoria (Paul Mitchell Hair Products founder) in my grocery store. He lives a pretty normal life on ranch. Being a billionaire is not difficult if you have a little common sense. He also owns Patron tequila. His daughter is homely, but loaded |
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Posted: 3/8/2023 7:22:55 AM EDT
[#38]
Quote HistoryQuoted: If you don't mind the Pacific instead, Vanuatu is a fine choice. They're small enough I'm sure that kind of money could buy whatever you want. Only $150k for citizenship, no extradition treaty with the US, and a beautiful island backdrop: https://i.imgur.com/Ili0ZgU.jpg Not that I've given this any thought or anything. |
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Posted: 3/8/2023 7:26:36 AM EDT
[#39]
If I had his kind of money, I would quit my job tomorrow, build a house on my land, and buy my neighbors land, and then buy some cattle and be a rancher. And buy a summer home in Pagosa springs Colorado.
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Posted: 3/8/2023 8:10:41 AM EDT
[#40]
Quote HistoryQuoted: Good for him but I'd be leaving California. Montana, Texas, and Florida is where I'd be buying property I wonder what the property taxes on a 25mil house is in California? This is the correct answer. Then all other purchases are through a trust or LLC. With that kind of "fuck you" money I'd probably buy and announce a house Santa Barbara or something and never actually live there. |
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Posted: 3/8/2023 8:23:28 AM EDT
[#41]
He will be broke. If I had won hat kind of money I would be happy with a 1 to 2 million home on the MS gulf coast. I would have a nice
hunting land in AL. |
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Posted: 3/8/2023 8:41:40 AM EDT
[#42]
Cool views but I’d buy a beach house in Florida on the Gulf.
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Posted: 3/8/2023 8:48:25 AM EDT
[#43]
Quote HistoryQuoted: LLCs have to register with the State they're formed in and the officers are public info, I think. Quote HistoryQuoted: Quoted: What about buying real estate through LLCs? Is that a good way to hide the real owner of property? LLCs have to register with the State they're formed in and the officers are public info, I think. Correct. And most states make membership publicly viewable, so using LLCs (even a complex series of holding companies, fractional ownership, etc.) just makes people spend a little more time figuring out what you own. |
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Posted: 3/8/2023 8:48:59 AM EDT
[#44]
Quote HistoryQuoted: Jeez, I buy a personal villa somewhere in the Caribbean on a private island. Somewhere corrupt enough to where I can bribe the government to leave me alone. A place where I can have all the MGs I want. My man 
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Posted: 3/8/2023 8:49:15 AM EDT
[#45]
I would have found the biggest piece of land available in Montana Oregon or WA maybe wyo but no desolate shit but thats me.
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Posted: 3/8/2023 8:50:27 AM EDT
[#46]
Quote HistoryQuoted: @Canoeguy One small overlook and we pile on.  It could be worse, he could have arjoe’s EE number. |
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Posted: 3/8/2023 8:55:12 AM EDT
[#47]
Quote HistoryQuoted: If you don't mind the Pacific instead, Vanuatu is a fine choice. They're small enough I'm sure that kind of money could buy whatever you want. The allure of the Caribbean for US citizens is that the area can be reached fairly quickly by air or sea. The pacific is a long trip and essentially requires you fly via commercial aircraft (considering the range of most private aircraft). Flying (either commercial or private) means you have to ask permission to travel and are tracked. If you really needed to drop out of sight for a while, a boat ride to the Caribbean feels like a much better answer. There are plenty of destinations in that locale that would work. They’ll generally involve more of a conversation with officials there, though, versus seeing write-ups in a news website. |
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Posted: 3/8/2023 8:57:11 AM EDT
[#48]
Quote HistoryQuoted: dammm urkrane couldve used that money....  Yes it should seized from him and gone into the war effort. We are all threatened by Ukraine and he should pay up |
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Posted: 3/8/2023 9:49:02 AM EDT
[#49]
Quote HistoryQuoted: The allure of the Caribbean for US citizens is that the area can be reached fairly quickly by air or sea. The pacific is a long trip and essentially requires you fly via commercial aircraft (considering the range of most private aircraft). Flying (either commercial or private) means you have to ask permission to travel and are tracked. If you really needed to drop out of sight for a while, a boat ride to the Caribbean feels like a much better answer. There are plenty of destinations in that locale that would work. They’ll generally involve more of a conversation with officials there, though, versus seeing write-ups in a news website. Quote HistoryQuoted: Quoted: If you don't mind the Pacific instead, Vanuatu is a fine choice. They're small enough I'm sure that kind of money could buy whatever you want. The allure of the Caribbean for US citizens is that the area can be reached fairly quickly by air or sea. The pacific is a long trip and essentially requires you fly via commercial aircraft (considering the range of most private aircraft). Flying (either commercial or private) means you have to ask permission to travel and are tracked. If you really needed to drop out of sight for a while, a boat ride to the Caribbean feels like a much better answer. There are plenty of destinations in that locale that would work. They’ll generally involve more of a conversation with officials there, though, versus seeing write-ups in a news website. Good point. I guess if you're not actually wanted by US courts it would be more convenient.
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Posted: 3/8/2023 10:00:31 AM EDT
[#50]
Quote HistoryQuoted: VERY well done, needs lotsa kids to make it pay off. Helicopter delivered teaching? Needs shooting range. Getting too old now Quote HistoryQuoted: Quoted: $25M on that in the PRC when he could have spent $25M on this? Idiot. https://www.youtube.com/watch?v=Mw_AJOYzt0wVERY well done, needs lotsa kids to make it pay off. Helicopter delivered teaching? Needs shooting range. Getting too old now Shoot off the pool deck, you're bound to hit scum. |
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