Elon Musk Sells his seven Homes for N53.96bn After Vowing to ‘Own No House’, Advises Young People
- Elon Musk is renowned for many things, such as inventiveness and big-picture thinking, but being lazy is not one of them
- He has developed this mentality even further by selling of seven of his homes in order to rent a small flat near to his workplace
- Furthermore, the American billionaire offers some advice to young people, particularly those from rich backgrounds
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Despite having over $211 billion attached to his name which is 9.82% of US existing home sales, Elon Musk Tesla CEO has chosen to live a simple life.
According to the Wall Street Journal as at 2019, Musk had six houses on two streets in the “lower” and “mid” areas of the Los Angeles neighbourhood of Bel-Air.
He also owned a grand, 100-year-old estate in Northern California in Hillsborough. He purchased the homes between December 2012 and January 2019 for a total of $102 million.
It is now reported that Elon Musk has sold all and now pays rents in Texas after selling his California homes to other billionaires.
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Some of the buyers include Kirill Evstratov, the 37-year-old founder and CEO of financial tech company Unlimint, splashy L.A. developer Ardie Tavangarian, and William Ding, the Chinese billionaire and founder of mobile gaming company NetEase
Picture of Elon Musk's new homes emerge
Elon Musk's new home was photographed and described as a $50,000 ready-made house near his space research firm, SpaceX.
The foldable, prefabricated tiny house is called Casita, manufactured by a company based in Las Vegas called Boxabl.
The 375-square-foot Casita house is said to be durable and made of concrete panels and steel. Therefore, it could be installed very quickly and transported easily. The structure is also light and can be pulled by a medium-sized vehicle.
Musk mentioned in an interview that he had installed improvements to the home that would increase the property's value to about $69,000.
He also added that his choice to rent the flat was motivated by the need to constantly have convenient access to his workplace.
Elon Musk's advice to young people
This is not the first time Elon Musk has chosen to live a modest life despite having enough to afford it.
In a report by Mashable, Elon Musk recalled how he turned his house into a nightclub to afford rent while drowning in student debt of over $100k. He charged $5 for entry!
He noted that kids starting with lots of money usually have much less motivation than those who have nothing.
Elon Musk makes Dangote's total worth of over N6trn in 8 hours
In another report, Legit.ng detailed how Elon Musk continues to show he is the king of billionaires as he made the total networth of Aliko Dangote in a few hours
The surge in Musk's wealth comes as his electric company Tesla announced a higher gain after trading on Tuesday
Dangote remains Africa's richest man but his loss N105.33 billion means he has dropped by 5 places in the billionaire list.