Elon Musk Now Lives in a $50,000 Prefab Tiny House in Texas

Elon Musk Now Lives in a $50,000 Prefab Tiny House in Texas

As one of the world’s richest men, Elon Musk can easily afford to drop hundreds of million of dollars on any lavish home he wants. Instead, the multibillionaire is living in a $50,000 tiny home in Boca Chica, Texas, where his SpaceX headquarters are located.

Musk—who has an estimated net worth of $160.4 billion, per Forbes—announced the news of his humble abode in a tweet last month. “My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though,” he wrote. Now, a recent report by fan blog Teslarati and the New York Post reveals that said house is actually a foldable, prefabricated home made by Boxabl, a housing startup company.

The “Boxable Casita” that the Tesla CEO reportedly lives in is a transportable 20x20 unit that’s only about 400 square feet. It is set up like a studio apartment and features a fully equipped kitchen, bathroom, living room, and bedroom. Though this has yet to be officially confirmed, the company hinted in a promotional video posted in November that one of the Casitas was installed “for a top-secret customer.”

The 50-year-old mogul’s move comes more than a year after he announced in a tweet that he was “selling almost all physical possessions” and “will own no house.” Musk has since fulfilled that promise, selling most of the properties in his real estate portfolio. Most recently, in June, he listed his final pad, located in San Francisco, for $37.5 million. The home “just needs to go to a large family who will live there,” he tweeted, confirming the news. “It’s a special place.”

Elon Musk lives in this rented ‘mini home’ after selling all his mansions

July 7, 2021 5 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

This story originally appeared on Alto Nivel

After selling most of his real estate assets and moving to Texas last year, Tesla co-founder and CEO Elon Musk said in early June that he currently only owns one home located in the Bay Area, and that his main residence is a small manufactured home that he rents from his aerospace company, SpaceX.

In late 2020, Elon Musk said he would move to Texas for two big projects, one is his new Tesla factory and the other is the facilities of his aerospace company SpaceX. Another of his purposes, he declared, would be to raise capital to invest in the conquest of Mars .

The mogul’s new home is nearly 400 square feet (about 37 square meters) and is located in Boca Chica , Texas, where SpaceX makes its Starships . Elon Musk is the third richest man in the world, with a net worth of $ 169.8 billion, according to the Forbes Billionaires List, and now lives in “a folding prefab house” made by Boxabl , a home start-up company. .

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The home the businessman tweeted about sells for almost $ 50,000 and generally has a layout similar to that of a mini studio apartment: a large room divided between the living room, bedroom area, kitchen and bathroom.

My primary home is literally a ~ $ 50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though.

Only house I own is the events house in the Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen some day. - Elon Musk (@elonmusk) June 9, 2021

The mogul’s home is very small compared to the huge and opulent residences of other billionaires, “nonetheless it is an amazing thing,” Musk wrote on Twitter last month.

The properties of Elon Musk

In 2020, the businessman first unveiled his plans to sell all of his homes and most of his possessions, in response to criticism of his huge fortune.

Just one stipulation on sale: I own Gene Wilder’s old house. It cannot be torn down or lose any its soul. - Elon Musk (@elonmusk) May 1, 2020

“The only house I have is the events house in the Bay Area. If I sold it, the house would have less use, unless it was acquired by a large family, which could happen one day, “wrote the CEO of SpaceX on his Twitter.

The residence Musk is talking about is a 47-acre property in Hillsborough, California, halfway between San Francisco and Silicon Valley. The “100+ year mansion” is a 16,000-square-foot (1,486.4-square-meter) home with nine bedrooms and ten bathrooms. It’s Musk’s last home and he already put it on the market for $ 37.5 million when he originally bought it for $ 23.4 million in 2017.

Last year, Elon Musk got rid of his Los Angeles residence with slim profit margins, if one existed. Also, in June 2020 he put his first mansion on Chalon Road up for sale, for an amount of $ 29 million (he acquired it for $ 17 million in 2012).

Last October, Elon Musk sold a ranch-style property for $ 7 million. The property previously belonged to Gene Wilder and the tycoon bought it in 2013 and had acquired it for $ 6.7 million, promising that the house could not be torn down or lose some of its “soul.”

In December 2020, the billionaire sold four properties in Bell Air for a combined total of $ 61.89 million, between 2015 and 2019 he had spent almost $ 55 million on them. Thus, Musk achieved an estimated profit of $ 19.2 million in sales of his six residences during the past year.

Liquidating his property portfolio, Elon Musk says he now lives in a tiny $50,000 prefab house in Texas that he rents from SpaceX

Elon Musk may be one of the world’s richest people, but he’s not living large.

After selling much of his real-estate portfolio in the past year and listing his final property earlier this month to focus on his mission to Mars, the Tesla TSLA, -2.27% and SpaceX CEO is taking the retirement-saver dictum “Live below your means” to another level.

Musk, who turned 50 in June, revealed in a tweet that he is now living in a humble $50,000 home that he rents from SpaceX on its launch site in Boca Chica, Texas.

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

It’s rumored that the entrepreneur, who was named the richest person in the world this year, is living in a 375-square-foot modular home worth exactly $50,000 from Boxabl, according to Musk fan blog Teslarati and the Houston Chronicle.

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The tiny homes are made up of the bare necessities: a living area, bathroom, bed and kitchen — all from a folded box.

Musk did not immediately respond to a request for comment. The company’s co-founder, Galiano Tiramani, could not confirm to the Post whether Musk was living in a Boxabl home, but gave the New York Post a peek inside a typical Boxabl residence.

The pioneering Las Vegas–based company, co-founded by Galiano and his father, Paolo Tiramani, in 2017, manufactures compact homes that can be shipped anywhere.

“[Paolo] had built a modular home back in Connecticut, dealt with all the oversize shipping issues, and came up with the folding solution,” Galiano told the New York Post. “After that, we kept working on it and things got better and better. As we started experimenting with new manufacturing methods and building materials, it became clear that the product had huge potential.”

The first model of the construction technology startup is called “Casita,” but they’ve already created other designs to fit different families and meet individual needs.

“The system doesn’t end at the ‘Casita,’ ” Galiano said. “We have plans for different room modules that stack and connect to build any building on the planet.”

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In fact, the tiny-house company has even bigger plans.

“The goal of the company is to mass-produce housing on a scale and at a cost that’s never been done before,” Galiano added. “We want to make housing dramatically more affordable for the world.”

When asked what he thought of Musk living in his creation, Galiano told the New York Post he was unable to comment on the matter.

But a Boxable does appear to have residences on the Starbase site in Texas.

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Also: How to finance a tiny house

Musk began unloading his real-estate portfolio last summer after revealing he would give up all tangible assets to focus on his mission to Mars.

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

Visit NYPost.com for more photos and the original version of this story.

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