Tesla Billionaire Elon Musk to Sell His Last Remaining Home

Published June 15th, 2021 - 08:00 GMT
Tesla Billionaire Elon Musk to Sell His Last Remaining Home
Musk said he wanted to get rid of the properties as a way to defuse criticism of his extreme wealth . (Shutterstock)
Announcement comes a little more than a year after the billionaire said he would sell all of his homes

A little more than a year since his vow last May to sell nearly all of his possessions, and 'own no house,' billionaire CEO Elon Musk appears to be nearing his goal, announcing Monday that he plans to sell his last remaining home.

The California Bay Area mansion, which was listed for sale on Sunday for $37.5 million, is on Crystal Springs Road in Hillsborough, and was used chiefly as a rental space for events, he said. 

Musk said he would like to sell it to a large family who will live there. 'It's a special place,' he tweeted.  

He currently lives in a home he rents worth $50,000 in Boca Chica, Texas near his Space Exploration Technologies Corp. Starbase rocket manufacturing plant, where he moved last year. 

Musk had gone on a spree the past 13 months, selling six of his properties, as well as one in 2019, for a total of $114 million.

He tweeted last May: 'I am selling almost all physical possessions. Will own no house.' 

He said he was doing it as a way to defuse criticism of his wealth, telling podcast host Joe Rogan last May: 'I think possessions kinda weigh you down. And they’re kind of an attack vector. People say, "Hey, billionaire, you got all this stuff." "Well, now I don’t have the stuff — now what are you gonna do?"'

Typical for Musk, he made his announcement in an early Monday tweet

The announcement comes after a ProPublica report last week that revealed he had paid little, and in some cases, no federal income taxes in recent years. 

Musk said on Wednesday that despite divesting himself of his properties in the state, he would, 'continue to pay income taxes in California proportionate to my time in the state, which is & will be significant.' 

It was a final make-good for a vow he made last May

Musk started his sell-off in June 2020, with a 20,200-square-foot mansion in Los Angeles' Bel Air area that sold for $29 million.

It featured a library, fruit orchard, five-car garage, guest suite, theater, and ocean and city views among many other amenities, according to its Zillow listing. 

He purchased it in 2013 for $17 million.  

Then, in October, Musk sold a home near the mansion that he said was particularly special to him because it formerly belonged to Gene Wilder.    

He stipulated: 'It cannot be torn down or lose any of its soul.' 

He bought the property in 2013 for $6.75 million, and sold it to Wilder's nephew Jordan Walker-Pearlman for $7.2 million.

Musk even helped finance the purchase by giving him a loan, Variety reported.

In December 2020, Musk sold four neighboring homes in Bel Air for a combined $61.8 million.

He had told Rogan in 2018 that he only actually lived in one of them, and purchased three as privacy buffers.   

They included a two-story, six-bed, seven-bath house on Somera Road that went for $29.7 million; a two-story, six-bed and eight-bath on Chalon Road for $21 million; a two-story, four-bed, five-bath on Somera Road for $6.7 million; and a single-story, four-bedroom, four-bath home on Somera Road built in the 1960s that appears to have not been renovated since for $4.4 million.    

Before those, however, Musk sold his first major California property in August 2019.

It was a three-bedroom, three-bath modern house in Brentwood that he initially purchased in 2014 for $3.7 million. 

It featured floor-to-ceiling windows and a salt-water pool.  

He would sell it for $4 million.

That leaves the Hillsborough mansion, which is set apart from the other homes by its geographical location just south of San Francisco.

© Associated Newspapers Ltd.

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