Elon Musk finds buyer for last property as part of quest to “own no home”

Tesla CEO’s Hillsborough mansion is under contract pending contingencies

San Francisco /
Nov.November 15, 2021 01:05 PM
Elon Musk & 891 Crystal Springs Rd (Getty Images, zillow.com)

Elon Musk found a buyer for his only remaining home.

After cutting the asking price of his Hillsborough home to $31.99 million in October, Musk has accepted an initial offer for the property, the New York Post reported. It went under contract on Nov. 13, a year-and-a-half the billionaire said he planned to “own no home.” The contract is pending a contingent offer, which means the buyer must meet certain conditions and Musk could, in some cases, back out if he wants to do so.

Musk at first listed the home for sale “by owner,” so any potential buyers would have to go directly through him. Yet no one could get in touch with him, so the home sat on the market for months, the Post reported.

The asking price for the 16,000-square-foot, seven-bedroom home was $35 million when it hit the market in the spring of 2020, three years after Musk bought it for $23.3 million.

The Tesla CEO has been on a property-selling spree since he announced his plans to sell most of his earthly possessions to quell criticism of his vast wealth. He said material possessions were too much of a distraction from more noble goals such as getting to Mars and “working on sustainable energy for Earth.”

The Parrott Drive property is the last owned by Musk, who moved Tesla’s headquarters to Austin, Texas from Silicon Valley. Musk lives in a 375-square-foot accessory dwelling unit from Boxabl in Boca Chica, Texas. He rents it from his company, SpaceX, which has a manufacturing and testing facility nearby.

Musk, who is worth about $271.5 billion, has sold about $100 million of real estate assets.

[NYP] — Victoria Pruitt 





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