Elon Musk is one of the most controversial figures in modern business. If you follow the news around Musk, it’s easy to pick up on some patterns – namely, there are no patterns. Whenever Musk makes an announcement, it’s likely going to be something a little crazy or a little outlandish. (Read about some of the hate Elon Musk often gets.)
One of his most recent announcements didn’t have to do with his companies, Tesla or SpaceX, but instead had to do with his personal properties. In a pretty bold move, the billionaire announced that he was officially going to hold no properties and that he would be selling all of the homes he’s owned. Today, we are going to look at some of these properties that he’s “dumping” and see what he’s really giving up.
Methodology
It can be a little tough to find every single property of a billionaire business owner, but through online resources, we were able to compile a list. Some of the online sources include architecture sites (that go into detail on the style of the homes), Business Insider, and more. We also compiled the purchase price of the homes, plus what they were sold for when Musk decided to downsize his portfolio.
The Bel-Air Colonial
Musk’s first mansion he purchased was the Bel-Air Colonial. He bought the home in 2012 for $17 million, using it as his primary residence, living with his family, and hosting some of his (in)famous parties. The home is a white stucco mansion with seven bedrooms, 13 bathrooms, a two-story library, a tennis court, a swimming pool, a spa, a gym, and an orchard (because why not). The house overlooks the Bel-Air Country Club and is across the street from Gene Wilder’s former home. Musk sold this property in 2020 for $29.7 million to Chinese billionaire William Ding.
The Gene Wilder Mansion
The second home that Musk decided to dump was the Gene Wilder mansion. Musk bought the home in 2013 for $9.18 million, only a year after his purchase of the mansion across the street. This was the former home of the legendary actor who played Willy Wonka, but Musk didn’t really buy it for nostalgia’s sake. In fact, the primary reason he bought the home was to protect his view from his primary home. The house is a ranch-style property with a guest cottage.
The home wasn’t actually used as a home, but was instead converted into a school named Ad Astra. Ad Astra was the school that Musk’s own children went to, plus a few of the children from select SpaceX employees. He named the school after the Latin phrase meaning “to the stars,” which makes sense in light of his ownership of SpaceX.
When Musk announced that he was selling all his homes, he made a special condition for the Gene Wilder mansion. He tweeted (a favorite past-time of his) that the house could not be torn down or lose any of its soul as a tribute to Wilder. Wilder’s nephew, Jordan Walker-Pearlman, ended up reaching out to Musk’s team and asked about buying the home. After a little negotiation, Musk ended up selling the house to Walker-Pearlman and his wife, Elizabeth Hunter, for $9.5 million, almost going net-even on the purchase.
The Brentwood Estate Mansion
The third home that Musk parted ways with was the Brentwood Estate Mansion, which he bought in 2014 for $3.7 million. This home is famous for its boomerang shape and is the most modern of his mansions so far. The house had a private pool that offered a view of Los Angeles, which is itself an extremely costly venture. Musk sold this home in 2019 for $4 million and ended up making a somewhat small profit of $300,000. He had also sold this home before he announced his intention to sell all his properties to the public.
The Three “Extra” Bel-Air Mansions
Elon Musk’s real estate portfolio includes four mansions in Bel-Air, and from what we can tell, three were separate from his Bel-Air colonial home that sits first on our list. He bought these properties between 2012 and 2015, spending a total of $74.7 million on them all. The largest and most expensive mansion was his primary residence, which he rented for three years before buying for $17 million.
The other three mansions were smaller than his colonial behemoth. Over the years he ended up owning four adjacent properties on the same street, creating a little portfolio in the area. Soon after his announcement to sell his properties, however, he sold all of them in 2020 to a luxury real estate developer named Ardie Tavangarian for a total of $84.1 million. (See where investors are currently buying up real estate.)
The Guignécourt Mansion
The final home that Musk sold was the Guignécourt Mansion, and it’s maybe the most luxurious. He originally purchased the home in 2017 for $31.75 million, and it was originally designed for French nobles who had owned the property for 150 years. The mansion has nine bedrooms and nine bathrooms, plus a ballroom, a library, a staff wing, and all of the classic touches that belong in a property that expensive. The mansion sits on a somewhat secluded hilltop near San Francisco, likely because it was near the previous headquarters of Tesla and SpaceX in the Bay Area.
Like the others, Musk sold the mansion in 2021, with this one going to Kirill Evstratov. Evstratov paid $40.8 million for the mansion, giving Musk a profit of $9.05 million. This was the last “major” property that Musk owned, and by November 2021, he had completed his rather interesting goal. Maybe in the future, he’ll purchase more!
A Modest Texas Home
Although Musk doesn’t have any mansions anymore, he does still have a property in Texas. Right now, Musk claims to live in a modest three-bedroom house in Boca Chica, South Texas.
He’s talked about this home in a few interviews, notably with the Fullsend podcast. “When friends visit and stay there, they find it hard to believe I live here… I find it good if I am by myself.”
There is a bit of a misconception in the news, however, surrounding where he lives. It’s often repeated that Musk lives in a tiny home, and that isn’t necessarily true. He does own a tiny home, but it’s technically a guest home near his Boca Chica home. When people come to visit him, that’s where they stay. Still, even combined, both of these properties pale in comparison to some of the properties he previously owned. The tiny home could probably fit in one of his old pools!
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