One down, six to go: Elon Musk sells Bel Air mansion for $29M

Tesla, SpaceX co-founder, who vowed to “own no house,” still has a bunch on the market

TRD LOS ANGELES /
Jun.June 19, 2020 06:05 PM
Elon Musk and the home (Credit: Pascal Le Segretain/Getty Images and Sotheby's via Money.com)

Elon Musk and the home (Credit: Pascal Le Segretain/Getty Images and Sotheby’s via Money.com)

Elon Musk may yet colonize Mars, and in the meantime he has vowed to shed all his earthly real estate holdings. So far so good.

The Tesla and SpaceX co-founder sold his 16,000-square-foot Bel Air mansion for $29 million, according to the Wall Street Journal. The buyer of the home at 10911 Chalon Road was William Ding, a Chinese billionaire and founder of the technology company NetEase, the Journal reported.

The sale price was 40 percent above the $17 million Musk paid for the property in 2012. Despite an unsteady Los Angeles luxury market, it was just $1 million less than what Musk listed it for in May.

Last month, Musk announced on Twitter he would sell almost all his possessions and “own no house.”

The billionaire entrepreneur also listed a 2,800-square-feet neighboring home at 10930 Chalon Road; that one is on the market for $10 million. He later listed five more houses — four in Bel Air and one in the Bay Area — for a combined $97.5 million.

Musk told the Journal last month he’s not selling the homes to raise money for his companies, but to “make my life as simple as possible right now.”

In late March, he caused a stir by tweet-storming his opposition to Gov. Gavin Newsom’s shelter-in-place order, a move that prevented Tesla and SpaceX employees from commuting to their jobs. Musk threatened to open the Tesla factory, and later said he would move his companies out of California. He eventually backed down. [WSJ]Matthew Blake


Related Articles

arrow_forward_ios
Lighstone Group CEO David Lichtenstein and 365 Bond Street in Brooklyn (Photos via Lightstone; 365bond; iStock)

Lightstone bought Gowanus parcels for a pittance, seller’s sons allege

Lightstone bought Gowanus parcels for a pittance, seller’s sons allege
Michael Price and 20 East 78th Street (Getty, Google Maps)

Billionaire’s townhouse sale is a window into pandemic-era luxury deals

Billionaire’s townhouse sale is a window into pandemic-era luxury deals
One Clinton Street and 179 Bergen Street (Google Maps, One Clinton BK)

Biggest week of pandemic for Brooklyn’s luxury market

Biggest week of pandemic for Brooklyn’s luxury market
The coronavirus pandemic hampered luxury residential deals in most major cities across the globe

Pricey home sales plummet, but not prices themselves

Pricey home sales plummet, but not prices themselves
Jeffrey Epstein and his two properties to recently hit market, 9 East 71st Street in New York and 358 El Brillo Way in West Palm Beach (Getty, Google Maps, StreetEasy and Corcoran Group) 

Brokers vied for Epstein listings. Can they sell them?

Brokers vied for Epstein listings. Can they sell them?
Jeffrey Epstein and his former homes in New York and Palm Beach (Getty, Google Maps)

Jeffrey Epstein’s NYC, Palm beach mansions hitting the market

Jeffrey Epstein’s NYC, Palm beach mansions hitting the market
Penthouse at 46-30 Center Boulevard (Compass, Google Maps)

LIC penthouse deal is priciest Queens sale in two years

LIC penthouse deal is priciest Queens sale in two years
Renters paying high prices for luxury New York City apartments are stilling paying high prices even though building amenities are closed over Covid fears (iStock)

Luxury renters stuck paying for amenities closed by Covid

Luxury renters stuck paying for amenities closed by Covid
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...