After promising to sell nearly everything he owned last year including six mansions in California, Teslas billionaire CEO has taken up residence in a studio-apartment sized rental heres what it looks like inside and out.
If youre looking for the worlds third richest person, you wont find him living among the billionaires. After selling off most of his real estate assets and moving to Texas in the past year, Tesla cofounder and CEO Elon Musk revealed in early June that he now only owns one house (in the Bay Area)and that his primary residence is a tiny box house that he says he rents from his rocket company, SpaceX.
The house, which is around 400 square feet, is located in Boca Chica, Texas, where SpaceX produces its Starships. Musk, who has a net worth of $169.8 billion according to Forbes, rents a foldable, prefabricated home made by Boxabl, a housing startup company. The house, which Musk tweeted sells for about $50,000, typically has a setup akin to a small studio apartment: One large room partitioned into a living room area, bedroom area, kitchen and bathroom. In contrast to many other billionaires who own lavish mansions, Musk lives in an easily transportable 20x20 foot unit.
Its kinda awesome though, Musk said on Twitter last month.
Casita Floor Plan Floor plan of the Boxabl "Casita." BOXABL The 50-year-old mogul first announced plans to sell all of his homes and most of his possessions last year, in response to criticism of his massive wealth. Musk has now nearly made good on his promise to do so, selling six of his seven properties.
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 someday, Musk said on Twitter last month.
A few days later, he confirmed he had put it up for sale: Decided to sell my last remaining house. Just needs to go to a large family who will live there. Its a special place.
The 47-acre property is located in Hillsborough, Californiaaround halfway between San Francisco and Silicon Valley. The over 100-year- old mansion is a 16,000 square foot house that boasts nine bedrooms and ten bathrooms. Its the last piece of real estate that Musk owns: He has listed it on the market for $37.5 million, having originally bought it for $23.4 million in 2017.
Musk has offloaded his Los Angeles real estate in the past year, often at slim profit marginsif any. He sold his first mansion, located on Chalon Road, for $29 million in June 2020; he had purchased it for $17 million in 2012.
In October, he sold a 2,700 square foot ranch-style house that used to belong to Willy Wonka actor Gene Wilder for $7 million (Musk bought it for $6.75 million in 2013), with the stipulation that the house cannot be torn down or lose any [of] its soul.
In December, Musk sold four Bel Air properties for a combined $61.89 million; He originally spent nearly $55 million on those properties, purchasing them between 2015 and 2019. Overall, Musk has made an estimated profit of $19.2 million on his six home sales over the past year.
Musks offloading of real estate comes after a battle with the state of California. The billionaire criticized the states coronavirus- related restrictions on operations at the Tesla factory in the Bay Area last yearleading to a lawsuit that Tesla later droppedand also claimed that the state takes entrepreneurs for granted. In early December 2020, Musk confirmed that he was moving to Texas, citing the fact that two of his biggest projectsTeslas new factory and a SpaceX facility-are located there.
It remains unclear whether Musk is renting any other houses in Austin, though. Its also unknown if he stays with his girlfriend, 32-year-old singer Grimes (who lives in Austin) and their 10-month-old child, X AE A-XII. Musk has five other children with his first wife, Justine Wilson, but its unclear where they live.
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