Elon Musk has long been known for his eccentricities — from his desire to build a human colony on Mars to the unpronounceable name of his newborn baby, X Æ A-12. Nevertheless, these tendencies did not prevent him from having business acumen. As CEO of Tesla and founder of Space X and The Boring Company, he is one of the richest men in the world.
In May 2020, Musk announced that he intended to sell most of his assets. He said in a tweet : “I sell almost all of my physical possessions. Won’t own a house“. In 2022, The Wall Street Journal reported that he sold 7 of his homes for $130 million.
So what does a wealthy tech entrepreneur like Musk do after selling his homes? He packed his bags and moved to Austin, Texas, to a home that is undoubtedly different from what one would expect of an eccentric billionaire.
For a man who is one of the richest in the world, Musk’s newest abode is modest. He said on Twitter: “My primary residence is a $50,000 house in Boca Chica/Starbase that I rent from SpaceX. But it’s pretty awesome“.
I’ve actually been living in a ~$50k house in south Texas for past 2 years, not Boxabl (cool product tho).
Feels more homey to live in a small house.
—Elon Musk (@elonmusk) November 13, 2021
There was a bit of mystery about where his actual residence is. Some sources said in particular that he may have lived in a mansion in Austin, while others mentioned that he bought a $50K Boxabl prefab house, which he denied in the tweet. The Daily Mail reported that Musk, 50, owns a home in Boca Chica — a small town in Texas, two miles from the Mexican border, and neighbors in the area have confirmed he lives there at least part-time.
The three-bedroom single-storey house is not randomly located: it is a short walk from his aeronautical company, Space Xwhich he founded in 2002.
According to the Daily Mail, county records show Musk acquired the property in 2019, along with empty land and a garage nearby. The house was previously owned by Richard and Patricia Heaton, who received a generous offer for their home.
The ranch-style house sits on a 481m2 lot and is blocked from public view by an imposing 2.4m fence around the property. Because of this, his residence is known locally as “The Compound”. New trees have been planted, and the billionaire installed Tesla solar tiles on the roof. He would also have built a personalized playhouse and a swing in the shape of a SpaceX rocket.
The former owner of the house told the Daily Mail: “I’ve seen the fence he put up, but you can see why privacy is such a huge deal with this guy.“.