Elon Musk was not messing around when he tweeted, “I will own no home” on May 1. Seven months later, his part in the California exodus has nearly come true.

Musk sold six Bel Air houses since June, with the last four coming in as one $62 million sale last week to Southern California developer Ardie Tavangarian, who first announced the transaction to Bloomberg in July. The Tesla and SpaceX tycoon sold a 16,000-square foot mansion for $29 million to a Chinese tech billionaire in June and Gene Wilder’s former estate for $7 million ($6.7 million by loan) to Wilder’s nephew and his wife, according to Variety.

Earlier this year, Musk announced he was moving to Texas with a Tesla factory being built in Austin and SpaceX stationed in Boca Chica. His initial listing for the six houses was on Zillow as “For Sale by Owner.”

Of the latest four-home package sale, only two are next to each other and each one is architecturally unique—a modern mansion, a neoclassical Colonial, a traditional bungalow and an updated 1954 mansion. Musk bought the properties individually between 2015 and 2019 for $55 million, but his $7 million sale profit likely only offsets his construction investments, Variety reported.

Musk is not quite done with California homeownership, however. He still owns a 47-acre Silicon Valley estate.

So what is a filthy rich mogul to do for his residency time in California once he sells them all? Variety said Musk toured a Pacific Palisades mansion that is available for rent at $350,000 per month. And that home’s owner is the developer who just bought Musk’s four-home package.

Add comment

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. Thank you for partnering with us to maintain fruitful conversation.


LISTEN NOW

preloader image