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It’s been almost two years since Elon Musk announced a plan to sell nearly all of his physical possessions, including his real estate, by tweeting “Will own no house” on May 1, 2020. The billionaire Tesla Inc.
TSLA,
and SpaceX CEO has finally unloaded all seven of the houses he once owned in California.
When The Wall Street Journal first reported on his portfolio back in 2019, Musk, and limited-liability companies tied to him, had amassed a cluster of six houses on two streets in the “lower” and “mid” areas of the Los Angeles neighborhood of Bel-Air, a celebrity-filled, leafy enclave near the Hotel 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.
Between June 2020 and November 2021, Musk sold all seven houses for a total of roughly $127.9 million, making a profit of around $25 million, although he had mortgages on several of the houses at the time, according to PropertyShark and public records.
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. Musk sold another one of his properties, the former home of the late actor and director Gene Wilder, to Wilder’s 53-year-old nephew, Jordan Walker-Pearlman. To date, none of the new owners have significantly altered the properties they bought from Musk. At least two say they don’t expect to make any significant changes in the future.
Meanwhile, Musk says he has downsized his life. “My primary home is literally a ~50k house in Boca Chica/Starbase that I rent from SpaceX,” he tweeted in June 2021, referring to a Texas town near the Mexican border near SpaceX’s rocket-launch facility. “It’s kinda awesome though.”
An expanded version of this report appears on WSJ.com.
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