“ I think it is possible for ordinary people to choose to be extraordinary.” – Elon Musk.
The Technoking of Tesla, Elon Musk indeed lives by his words and proves to address himself as extraordinary every time. This, for Elon Musk, could be anything, from owning Twitter to flying into space; he simply leaves no stone unturned. Therefore, in 2020, the multi-billionaire CEO of SpaceX announced that he would be selling all of his physical assets and will not possess a home.
Subsequently, he listed four of his magnificent residences in Los Angeles, California. Elon Musk’s properties were up for sale for an estimated $137 million. Some of Elon Musk’s properties included the former residence of Gene Wilder, a $30 million mansion in Los Angeles, and a significant 100-year-old estate in the San Francisco Bay Area.
In this article, we take a closer look at the exquisite houses that the world’s first billionaire renter possessed.
The 100-Year-Old Hillsborough Mansion
In 2017, one of the additions to Elon Musk’s assets was Guignécourt, a magnificent 100-year-old estate worth $23.3 million. Christian de Guigne IV once owned the opulent house. It was constructed in 1912 by his ancestors and according to his family, San Francisco-based architects Bliss & Faville created the residence sometime in the 1910s.
Situated in the Hillsborough neighbourhood of the San Francisco Bay Area, the Mediterranean-style home is situated on a sizable 47.4 acres of land. The roughly 16,000 square-foot estate encloses five bedrooms, a ballroom, and a room for flower arranging. The four-storey estate also boasts of a library consisting of an in-built fireplace as well as a hidden bar, a six-bedroom staff area, and a gazebo with 18th-century Chinese wallpaper.
In November 2021, the owner and founder of Unlimint, Kirill Evstratov, acquired the property of Elon Musk for $30 million, allowing Musk to make profits off his real estate kitty.
The Four Bel-Air Mansions – $61.8 Million
Elon Musk’s property portfolio is vast, particularly in Bel-Air. The tech mogul owned four houses in total on the same street of Bel-Air worth $54.95 million and sold them for a combined total of $61.8 million. Eyebrows were raised, and neighbours questioned whether Elon Musk was attempting to take over the entire end of the street. What could have led to such concerns?? Maybe, because three out of four of Elon Musk’s houses are situated on a blind alley.
Elon Musk previously owned properties spread across the Los Angeles region, valued well beyond the $70 million mark. In the latter part of 2012, Elon Musk secured his first real estate purchase in Bel-Air. To our surprise, it was the same property he lived in when he rented it in 2010 with his family. He paid $17 million to purchase the mansion soon after that. Elon Musk’s house spans 20,248 square feet with seven bedrooms and 13 bathrooms. Beautiful brickwork covers the ceiling of the kitchen. The courtyard features a sizable tennis court, a swimming pool, and a magnificent view of the upscale Bel-Air Country Club. The residence also has a wine cellar and a gym. The layout of this mansion is very reminiscent of a James Bond Classic, Diamonds are Forever!
This was the beginning of Elon Musk’s real estate collection. In 2015, through the Camellia Ranch LLC, Musk spent $20 million on a 6-bedroom estate, approximately 7,026-square-foot in Bel-Air, situated on a 3.41-acre lot. Prior to Elon Musk purchasing the property in 2004 for $5 million, it was initially designed and built in 1954.
Following the trend, in 2016, Elon Musk’s property list added a small ranch house that was purchased for $4.3 million. It was bought by Duck Duck Goose, an LLC that shares addresses with the Musk Foundation and the headquarters of SpaceX.
Just three doors down the road, an unfinished white modern estate was purchased in 2017 by another of Musk’s affiliated LLCs. Two years later, yet another LLC, registered to the location of SpaceX’s headquarters, acquired the white brick colonial residence next door. Talk about diversifying real estate! Elon Musk’s properties are impeccable, just like his business ventures.
One of the four Bel-Air mansions was purchased by Ardie Tavangarian, the founder and owner of Arya Group, in 2020. He is a renowned architect for creating elegant houses.
Gene Wilder’s Former House – $7 Million
Gene Wilder, the OG Willy Wonka, purchase̥d this Bel-Air estate for $314,000 in 1976 and happily lived here for 30 years. The extravagant 2,756 square feet estate was an elegant mixture of a ranch home and a guest cottage. Elon Musk, at the time, already owned property above the Bel-Air Country Club and decided to buy Gene Wilder’s residence to preserve the view. In 2013, the Elon Musk Revocable Trust took care of the purchase holdings for $6.75 million.
However, ̥to conserve the sanctity of Gene Wilder, Elon Musk turned this mansion into a school named Ad Astra for his children and the children of his employees at Space X and Tesla. Soon after, the property was used to host Elon Musk-style parties.
When Elon Musk tweeted about selling all his real estate possessions, Jordan Walker-Pearlman, nephew of Gene Wilder, immediately gave a shout-out to Elon Musk’s team, asking if he could buy back the property. Elon Musk, without a thought, sold the house to Jordan Walker-Pearlman and his wife, Elizabeth Hunter, for $7 million in exchange for a loan of $6.7 million. Elon Musk also decided to sell Gene Wilder’s mansion on one prerequisite – that it will not be torn down or lose its spirit. Isn’t that thoughtful?
Colonial White Stucco Residence in Bel-Air
The Elon Musk Revocable Trust purchased a white stucco Colonial estate in 2012 for $17 million after three years of renting it. Amid the Bel-Air Country Club and directly across from Gene Wilder’s former residence, this became Elon Musk’s house.
The seven-bedroom, 13-bathroom home has its own apple orchard and is situated on 0.7 hectares of land. Additionally, it features five garages, a tennis court, a pool, a spa, and a gymnasium, along with guest rooms. Some of the prime highlights of this French countryside estate include a two-story library and a wine cellar that can house 1,000 bottles.
After Musk tweeted about selling his possessions, the Colonial estate went up for sale with a $30 million asking price and was swiftly sold to Chinese billionaire William Ding for $29.72 million in 2020. The reported value was set to be $5.5 million higher than what the Tesla CEO purchased for it in 2016.
Modern Brentwood Estate
In 2014, another name was added to the list of Elon Musk’s properties. This was a boomerang-shaped house in Brentwood, California. The Tesla CEO paid slightly under $3.7 million for the property, this being the most reasonable one from his list.
The entire house has a modern approach covered in hedges for protection, floor-to-ceiling windows, and a private pool overlooking the Los Angeles area. Five years later, in 2019, Musk sold his house for $4 million before publicly announcing his intentions.
Elon Musk – The Humble Billionaire
Elon Musk, one of the wealthiest individuals in the world, prefers a minimalistic lifestyle over an extravagant one. No wonder he chose to let go of his real estate assets and lead a simple life.
Elon is a smart man eh? Then why did he choose to sell off his properties and opt for a modest home? Well, the tech mogul in a tweet mentioned that with Tesla’s help he wants to focus on working towards sustainable energy and Space X’s multi-planetary life project for the future. He made a conscious choice to depart from California in 2021 and concentrate on the enormous future production complex for the electric automobile. By now, it’s quite obvious that he prioritises time spent on achieving more meaningful goals over owning real estate.
What Made Elon Musk Sell All of His Properties?
Still, trying to wrap your heads around why would Elon Musk sell all of his properties and live in a rented house? What exactly is the catch here? A fire sparked by speculation has engulfed this question and some of what is being speculated can be true.
“Knowing how to legally avoid tax is more important than the amount of money you make.”
Living in California is extremely expensive but wait, that’s no hindrance for Elon Musk. However, highly valued properties more often than not, result in sky-high taxes. So, going by one school of thought, to avoid paying for more, Elon Musk’s properties may have been a liability more than an asset. And in an effort to save up on taxes, he decided to liquidate his real estate assets. Now, that’s the genius mind of a billionaire being put into practice!
Secondly, moving to Texas would ensure he accumulates more wealth than living in California. How so? Texas levies no income tax, thus, Elon Musk will gain several tax benefits from the state. Another conjecture in the bag is Elon Musk found maintaining his properties a real distraction. A man of high ambitions and goals directed all his attention to learn more about the space world. Thus, selling his properties would draw more cash that could be used for his diverse investments.
New House of Elon Musk
Despite all the fame and fortune, Musk had decided to take his minimalistic approach to another level with his current residence. After liquidating his real estate assets valued at $137 million, the billionaire now lives in a modest, rented house estimated to be valued at $50,000. This tiny prefab home in Boca Chica, Texas, close to his aerospace company, has everything to satiate his palate for a minimalist lifestyle.
It is a premade, movable house built by Boxabl, a newcomer in the housing industry. The residence has a layout similar to a compact studio apartment, with one main room divided into a living space, a bedroom area, a kitchen area, and a bathroom. According to Musk, the house sells for roughly $50,000. Musk resides in a 20×20 foot temporary apartment, as opposed to the luxurious estates several other billionaires possess.
Living Within the “Space”
Elon Musk’s properties, without a doubt, hold lore to tell. However, he has larger dreams and goals to achieve. From 2020 to 2022, he made a profit of $25million by selling all his physical possessions. Musk knows where he needs to invest and values the all-important potential when it comes to returns on his investments. One of the characteristics that complete a cycle of conscious choices and places him exactly where he wishes to be – out of the ordinary!
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