elon musk

Elon Musk sells his California properties and moves to Texas

A decision with which Musk seeks to focus on two new projects: SpaceX’s new space vehicle and Tesla Inc.’s Gigafactory.

New Year New Life. That’s what Elon Musk, CEO of Tesla and founder of SpaceX, must have thought, who started 2021 without a home. After announcing last May on his Twitter account that he would sell all of his physical properties, he began selling the real estate.

In an interview, the billionaire argued that “spending time building a house, even if it is a really cool house, is not a good use of time compared to developing rockets to go to Mars and help pay for sustainable energy.” The reality is different and is that, in a more relaxed tone, Musk recognized that he had many properties and that he did not spend as much time on them.

A business of 122.3 million euros

In this way, the founder of Tesla would no longer have anything to tie him to Los Angeles, where he had up to six homes in Bel-Air, one of the most exclusive areas of California. Over the past year the tycoon got rid, as he well said, of all his mansions. The first of them was acquired by the Chinese billionaire William Ding for 22.6 million euros.

Four months after his first real estate deal, Musk was selling Gene Wilder’s (Young Frankenstein) house for 50.7 million euros. He put the following condition on his new owner, the actor’s nephew: not to demolish the mansion or make her lose “his soul.”

As for his other properties, the billionaire has placed them in the same agreement for a total of 49 million euros. The buyer is local developer Ardie Tavangarian, according to local media.

Elon Musk bought all the properties between 2015 and 2019 for 45 million euros. Now that he’s sold them all, Musk is renting a Pacific Palisades hilltop mansion for $ 286,000 a month.

However, although he no longer has houses in Los Angeles, the billionaire owns a 19-hectare property in California located in Silicon Valley and valued at 19.1 million euros.
New life in Texas

The tycoon told the American newspaper The Wall Street Journal that one of the reasons that led him to leave California is that the State “has stopped supporting innovators.” The Wall Street Journal mentioned that another reason for Musk’s exodus is that there is no income tax in Texas.

The businessman threatened to move Tesla’s headquarters in Palo Alto, California to Texas earlier this year after an argument with county officials about whether the San Francisco-based car factory should remain closed as a result of restrictions caused by COVID-19.

A decision with which Musk seeks to focus on two new projects of great importance for the companies he leads: SpaceX’s new space vehicle and Tesla Inc.’s Gigafactory, which is being built in the capital of Texas, Austin.

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