Elon Musk renting $50,000 house in Texas after selling real estate holdings

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Elon Musk has downsized.

The Tesla and SpaceX CEO has sold or listed all of his $114 million in real estate holdings in the past year and now resides in a small, ranch-style house in Texas near the Boca Chica “Starbase,” a test site for many of SpaceX’s rockets located in Southeast Texas, two miles away from the southern border.

“My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though,” Musk tweeted on June 9.

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The billionaire’s new lifestyle is part of a larger effort to focus on his space ambitions.

“I am selling almost all physical possessions. Will own no house,” he tweeted in May 2020.

Musk’s one-floor house has white exterior walls and black trim near the door, and the roof consists of brown shingles, a photo from the Wall Street Journal showed. It has two windows on its front and is flanked by a wooden fence on each side.

It was appraised for $47,000 in 2020 and for just over $154,000 in 2021. Photographs taken by Texas Monthly appear to show significant upgrades being made to the property, including the installation of solar panels.

“[Musk] doesn’t really make an effort to say hi or get to know us,” said Boca Chica resident Jim Workman, who lives across the street from Musk’s house.

The entrepreneur can be spotted strolling through the neighborhood with two men, presumably part of his security detail, locals said, according to the New York Times.

His partner, the musician Grimes, lives near Musk in Austin, Texas, she said. It is unclear if she lives with him, as Austin is over 350 miles away from Starbase.

SpaceX did not respond to the Washington Examiner's request for comment on the specifications of Musk's house.

The CEO’s home is one of many that SpaceX bought for employees of Starbase to make their commute to work easier.

Residents accused Musk of trying to turn the village of Boca Chica into a SpaceX colony.

The company made offers to buy the houses of the locals. If they refused, SpaceX threatened to try to procure their houses through more aggressive means, said residents like Workman, according to the Wall Street Journal.

The only home still in Musk’s possession is a nine-bedroom, 9 1/2 bathroom mansion near San Francisco, which he listed for $37.5 million on Monday.

One of the homes Musk sold was the former home of the actor Gene Wilder. That house “cannot be torn down or lose any [of] its soul,” he tweeted when he first announced his material renunciation.

The house went to Wilder’s nephew, who bought the house for $7 million using a loan from Musk.

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There is no word on whether Musk will sell his car collection, which includes multiple Teslas, a Porsche, and a Ford Model T.

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Tags: News, Elon Musk, Texas, spaceX, Tesla, Real Estate, Poverty, CEOs, Space

Original Author: Charles Hilu

Original Location: Elon Musk renting $50,000 house in Texas after selling real estate holdings

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