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Elon Musk, world's second-richest man, told Twitter he lives in rented home that costs just over R700,000

Business Insider US
Tesla CEO Elon Musk Elon Musk stands on the construction site of the Tesla factory in Grünheide near Berlin, May 17, 2021.
  • Elon Musk, the world's second-richest man, told Twitter he lives in a $50,000 (R700,000) house in Texas.
  • He's speculated to be living in a prefabricated home by housing startup Boxabl.
  • The billionaire appears to be keeping his promise made in May last year to "own no house."
  • For more stories go to www.BusinessInsider.co.za.

Tesla CEO Elon Musk is the world's second-richest man, with a net worth of $185 billion (around R2 trillion). But in a June 10 tweet, the billionaire said he lives in a rented home in Boca Chica, Texas, that costs $50,000 (R700,000).

On July 1, Musk provided some more context about his housing situation. In response to a tweet showcasing a prefabricated home by housing startup Boxabl, Musk wrote, "I do live in a $50k house, but not this specific one."

Teslarati, a media company that follows Tesla news, previously reported that it had received a tip that Musk's home is a "Boxabl Casita" - a 375-square-foot house with a kitchen, bedroom, and a bathroom that starts from $49,500.

In November, Boxabl posted a video of a unit it was building in Boca Chica. The company said the home was for a "top secret customer" and had a Falcon 9 poster on its door. Falcon 9 is a partially reusable rocket built by SpaceX, which Musk founded in 2002.

Las Vegas-based Boxabl aims to mass-produce low-cost housing. They company creates homes that are delivered in a box and can be set up in a day.

Musk appears to be keeping good on a promise he made last May in a tweet that he will "own no house." Weeks later, five of his homes were listed for sale on Zillow. And in January, the LA Times reported that Musk sold three of his adjacent mansions in Los Angeles for a combined $40.9 million (R584 million).

The SpaceX CEO said in a June 10 tweet he only has one house left in the San Francisco Bay area, which he currently rents out for events and is waiting to sell. His criteria, he said, is that it "needs to go to a large family who will live there" because "it's a special place."

Boxabl and a representative for Musk did not immediately reply to requests for comments for this story.

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