Elon Musk lists another 5 homes for nearly $100M
The SpaceX founder who has amassed a sizeable luxury resi portfolio, now wants to rent
Elon Musk has turbocharged his vision to sell off his many homes, listing four more Bel Air properties and another in the Bay Area for around $100 million.
Earlier this month, the billionaire entrepreneur took to Twitter to say he was “selling almost all physical possessions,” and would “own no house.” At the same time, he put a pair of neighboring Bel Air properties on the market for a combined $40 million.
This week, he added five homes to the list, at a combined $97.5 million price tag, according to the Los Angeles Times. Musk, who became a father on May 4, said during an appearance on Joe Rogan’s podcast last week that he now wants to rent.
The Tesla co-founder recently became eligible to exercise a stock option for 1.69 million shares in the company — worth about $1 billion — but would need $592 million to exercise the option, the Wall Street Journal reported last week. Musk told the Journal that he’s not selling his homes to raise cash, but to “make my life as simple as possible right now.”
The Bel Air homes that just hit the market are grouped as a package, asking $62.5 million. The other is a sprawling 47-acre estate outside San Francisco.
The Bel Air collection includes a 7,000-square-foot modern home on about 3.5 acres and three smaller homes at the end of a nearby cul-de-sac.
Musk built up his L.A. portfolio over several years starting in 2012 with one of the two homes he listed last week. He added the other four between 2013 and 2019.
In February, Morgan Stanley provided Musk $61 million in mortgages on four Bel Air homes and the Bay Area estate. That property is in Hillsborough, anchored by a 10-bedroom mansion built in 1916. The grounds include landscaped gardens and hiking trails, according to the Times. [LAT] —Dennis Lynch