Say Hello to Elon Musk's Modest $50,000 Primary Home — and Goodbye to the California Mansions He Sold

Elon Musk is the richest person in the world, so, naturally, he must have multiple properties worth millions of dollars, right? Not anymore. The Tesla CEO has sold off his luxurious homes and opted for a more low-key residence.

"I am selling almost all physical possessions. Will own no house," the 53-year-old wrote in an X post in 2020.

At least part of the reason why Musk is parting with his things is to have complete focus on Mars. "It’s going to take a lot of resources to build a city on Mars,” Musk told Business Insider in 2021. "I want to be able to contribute as much as possible to the city on Mars. That means just a lot of capital.”

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After that X post, Musk went on to sell his real estate worth around $130 million, according to The Wall Street Journal. One notable property was once owned by beloved actor Gene Wilder. Musk ended up loaning Wilder's nephew millions of dollars so he could buy the Los Angeles spot.

The last home Musk held onto was in Hillsborough, California. "Only house I own is the events house in the [San Francisco] Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen some day," Musk wrote on X. Its purpose was to be rented out for people to host events.

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Less than a week later, however, Musk announced that he was giving up that property, too. "Decided to sell my last remaining house. Just needs to go to a large family who will live there. It's a special place," Musk wrote on X. The 16,000-square-foot mansion had trouble finding a buyer at first, though, but eventually sold at the end of 2022.

Last year, there were rumors that Musk had plans to build a $35 million compound to house his large family. However, he's shut down those speculations. In actuality, Musk lives in a rather small home. He likes it that way, though. "People will attack me and say, ‘Oh, he’s got all these possessions. He’s got all these houses.' OK, now I don’t have them anymore,” Musk told Business Insider.

Here's the only home that Musk is officially tied to.

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$50,000 Home in Boca Chica, Texas

Musk chose to live incredibly close to work. In fact, SpaceX is practically in his backyard. Located in Boca Chica, which is just under 400 miles south of Austin and only three miles north of the U.S.-Mexico border, the home is said to have three bedrooms. He doesn't own it, either.

"My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It's kinda awesome though," Musk wrote on X in 2021.

"Now that I have made some improvements, I'm pretty sure it's worth $69k haha," he wrote in a follow-up post.

In 2023, Musk announced the change of his street's name. Instead of Weems Street, it's Memes Street. Hey, what else do you expect from the man who owns a social media site?

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