Since last year, Elon Musk has promised to sell all of his properties, including six of his mansions. Now, the world’s third-richest man lives in a 37-square-meter ‘mini home’ in Texas.
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5 min read
This story originally appeared on Alto Nivel
After selling most of his real estate assets and moving to Texas last year, Tesla co-founder and CEO Elon Musk said in early June that he currently only owns one home located in the Bay Area, and that his main residence is a small manufactured home that he rents from his aerospace company, SpaceX.
In late 2020, Elon Musk said he would move to Texas for two big projects, one is his new Tesla factory and the other is the facilities of his aerospace company SpaceX. Another of his purposes, as he himself declared, would be to raise capital to invest in the conquest of Mars .
The mogul’s new home is nearly 400 square feet (about 37 square meters) and is located in Boca Chica , Texas, where SpaceX manufactures its Starships . Elon Musk is the third richest man in the world, with a net worth of $ 169.8 billion, according to the Forbes Billionaires List, and now lives in “a folding prefab house” made by Boxabl , a home start-up company. .
The home the businessman tweeted about sells for almost $ 50,000 and generally has a layout similar to that of a mini studio apartment: a large room divided between the living room, bedroom area, kitchen and bathroom.
My primary home is literally a ~ $ 50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though.
Only house I own is the events house in the Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen some day.
– Elon Musk (@elonmusk) June 9, 2021
The mogul’s home is very small compared to the huge and opulent residences of other billionaires, “nonetheless it is an amazing thing,” Musk wrote on Twitter last month.
The properties of Elon Musk
In 2020, the businessman first unveiled his plans to sell all of his homes and most of his possessions, in response to criticism of his huge fortune.
Just one stipulation on sale: I own Gene Wilder’s old house. It cannot be torn down or lose any its soul.
– Elon Musk (@elonmusk) May 1, 2020
“The only house I have is the events house in the Bay Area. If I sold it, the house would have less use, unless it was acquired by a large family, which could happen one day, “wrote the CEO of SpaceX on his Twitter.
The residence Musk is talking about is a 47-acre property in Hillsborough, California, halfway between San Francisco and Silicon Valley. The “100+ year mansion” is a 16,000-square-foot (1,486.4-square-meter) home with nine bedrooms and ten bathrooms. It’s Musk’s last home and he already put it on the market for $ 37.5 million when he originally bought it for $ 23.4 million in 2017.
Last year, Elon Musk got rid of his Los Angeles residence with slim profit margins, if one existed. Also, in June 2020 he put his first mansion on Chalon Road up for sale, for an amount of $ 29 million dollars (he acquired it for $ 17 million dollars in 2012).
Last October, Elon Musk sold a ranch-style property for $ 7 million. The property previously belonged to Gene Wilder and the tycoon bought it in 2013 and had acquired it for $ 6.7 million, promising that the house could not be torn down or lose some of its “soul.”
In December 2020, the billionaire sold four properties in Bell Air for a combined total of $ 61.89 million, between 2015 and 2019 he had spent almost $ 55 million on them. Thus, Musk achieved an estimated profit of $ 19.2 million in sales of his six residences during the past year.