Elon Musk is undoubtedly the entrepreneurial mogul known for his grand ideas, which include Tesla, SpaceX, and Neuralink, but a lot of people have wondered for years about what goes on in his personal life or, rather, his homes. Surprisingly, Musk’s lifestyle is a sharp contrast from what may have been expected of a man whose net worth exceeds over $200 billion. Not for having a mansion built with lavish taste but rather famous for changing to the most modestly minimalist lifestyle, especially in the past decade or so.
Follow along as Elon Musk scales down from holding multiple lavishly expensive homes to drastic downsizing, then on to his current living situation and the values that fuel his unique approach towards real estate.
A History of Lavish Properties
Before the minimalist phase, it was reported that Musk owned very pricey ensembles of houses, most of which can be found in Los Angeles. He even had a couple of properties once inside the top neighborhood Bel-Air. Let’s examine some of them more closely:
The Bel-Air Mansion: He quickly spent one of his biggest deals on a 20,248-square-foot mansion in Bel-Air that he purchased for $17 million in 2012. The property boasts a number of lavish amenities-it included a two-story library, a home theater, a gym, and a large outdoor pool with sweeping views of Los Angeles. And that is exactly what a tech billionaire’s residence is supposed to be.
Other Bel-Air Properties: In addition to the mega-mansion itself, Musk purchased several other properties in the same general area. He reportedly spent around $100 million to acquire a string of houses in Bel-Air, including a $24 million mansion and a $6.4 million estate formerly owned by Gene Wilder, the legendary actor of “Willy Wonka & the Chocolate Factory.”
Despite owning these posh homes, Musk was pragmatic than sentimental about them. In his mind, a great real estate portfolio spreading all over constituted investments or places for the growing family, rather than a personal life or values.
Musk sells homes
This was, however, a shock to many when, in May 2020, Musk tweeted that he intended to sell “almost all physical possessions” and would have no house. This was the beginning of an enormous lifestyle change for Musk, as he started listing his properties for sale soon after the announcement. He has sold most of his real estate portfolio by late 2021, including his prized Bel-Air properties.
Why would the world’s richest man give up some of his luxurious homes? The reason has much to do with Musk’s increasing focus on simplicity and efficiency and the desire to save more of his energy and resources for his aspirations of space travel and innovation.
The reasons why Elon Musk is downsizing can be summarized in three key points:
Reduce Distractions: Musk often stated that owning many physical properties distracts him. By selling his homes, he also auctions off the burdens of running such estates and focuses more on working on his ventures at SpaceX, Tesla, among others.
Commitment to His Vision: This decision lies as part of his wider vision for the future of sustainability and innovation. He constantly speaks about the prospects of human beings, involving his ambitions for the colonization of Mars. By presenting this simpler way of living, he reflects the wish to live by the principles of simplicity and efficiency that he promotes through professional undertakings.
He also has publicly condemned public rhetoric about how ridiculously lavish billionaires live. In response, he went the opposite way and proved that his priorities lay elsewhere-his focus is on something larger; something which is beneficial to the greater good: promoting human development in creating a sustainable future by using technological advancements judiciously and enhancing space travel.
Musk’s Current Lifestyle
Life today for Musk couldn’t be more of a contrast to the gaudy mansions he used to live in. Musk, who is known for his affinity for minimalism, lives a lifestyle that borders on frighteningly modest for a billionaire of his stature.
It was reported in 2021 that Musk had actually moved into a small prefabricated house near the Boca Chica launch site of SpaceX, in Texas. The house is a Boxabl Casita, a foldable, modular home that costs approximately $50,000. It measures about 400 square feet, quite different from the mansions he once owned.
What is a Boxabl Casita?
The Boxabl Casita is a compact, foldable home that’s cost-effective and friendly to the environment. It is comprised of solid materials that can withstand the scourge of fire, extreme winds, and water damage. More importantly, it can serve for several climates and conditions. Meanwhile, this tiny house packs into it all kinds of basic appliances: kitchen, bathroom, living area, and bedroom.
This move to live in a Boxabl Casita falls in line with Musk’s personal philosophy of practicality and sustainability because the home is energy efficient and simple to get into place. It represents a vision for future low-cost housing, which can change the modular homes market in ways beyond comparison. In almost every aspect, the decision to live in this small home reflects his futuristic thinking and his resolve to embrace new technologies.
A Representation of His Commitment
Not a simple personal choice, but a declaration, Musk’s decision to cut his workforce in half. The businessman, who no longer lives in one of the mansions on his property, resides now in a $50,000 house. His message to the world is that he will not live life differently than what he advocates for. Belief in technology being able to solve big problems has to be matched with dedicating as much as he possibly can to his work.
This also underscores the sentiment that Musk’s wealth is not for personal luxury but for achieving ambitious goals, such as colonizing Mars or developing sustainable energy sources for Earth. His minimalist way of living stands in stark contrast to the lifestyles of many of his fellow billionaires and speaks to his singular focus on the vision he has for the future.
Conclusion
From owning a collection of luxury homes to living in a small prefabricated house, the journey of Elon Musk says a lot about his priorities and values. Many of the high-priced real estate in Los Angeles used to belong to him; for now, he is content with minimalism and can pursue his professional goals more than his material possessions.
The small $50,000 Boxabl Casita represents the coming together of innovation, sustainability, and simplicity. “The same goal that drives what I do with SpaceX, Tesla, etc. is a future where technology would enable for each human a lot more efficient, sustainable, and affordable living.”.
