After declaring he would “own no house”, billionaire entrepreneur Elon Musk has made good on his promise and successfully unloaded his entire US$130 million property portfolio.
According to the Wall Street Journal, the Tesla founder sold all seven of his property holdings between June 2020 and November 2021, making a profit of about US$25 million.
Musk, who now rents a US$50,000 home in Texas, has now officially moved on from the celebrity-filled California, where all of the properties were located.
Here’s a rundown of what happened to each property.
Hillsborough, California
Musk Purchase Price: $23.364 million
Musk Sale Price: $30 million
Buyer: Kirill Evstratov
Musk purchased the property known as de Guigne Court in 2017 for US$23.364 million from Christian de Guigne IV, which was built by his grandparents in 1912.
The 1486sq m, Mediterranean-style house sits on 47.4 acres and has five bedrooms, a ballroom and a flower-arranging room.
The home is located on a leafy hilltop roughly 20 minutes south of San Francisco and north of Silicon Valley.
Musk sold the property to serial entrepreneur Kirill Evstratov, best-known for founding Cardpay, which is now known as Unlimint.
Bel-Air, Los Angeles
Musk Purchase Price: $6.75 million
Musk Sale Price: $7 million, with a $6.7 million loan to the buyers
Buyers: Jordan Walker-Pearlman and Elizabeth Hunter
Musk purchased the Bel-Air property, spanning 256sq m between the ranch house and a guest cottage.
The property is located above the Bel-Air Country Club and the house was across the street from Musk’s main residence. Musk used the house for parties and Ad Astra, the school he started for his five sons.
Musk sold the property to American film director, screenwriter, film producer Jordan Walker-Pearlman whose late uncle Gene Wilder was the former owner.
Bel-Air, Los Angeles
Musk Purchase Price: A total of $54.95 million for four houses
Musk Sale Price: A total of $61.88 million
Buyer: Ardie Tavangarian
After originally paying US$20 million for a six-bedroom, 652sq m house on a 3.41-acre lot in Bel-Air, Musk proceeded to buy three more properties in a small cul-de-sac of five homes.
The billionaire added a modest ranch house on an adjacent street up a steep canyon for US$4.3 million, a large, unfinished, white contemporary home just three doors down and two years later, purchased a white brick colonial home next door.
The various properties sold to real estate developer Ardie Tavangarian.
Bel-Air, Los Angeles
Musk Purchase Price: $17 million
Musk Sale Price: $29 million
Buyer: William Ding
After renting the property for three years, Musk eventually purchased the 20,248 square-foot, white stucco Colonial mansion with seven bedrooms and 13 bathrooms in 2012.
The 1.7-acre property was used as Musk’s main residence and overlooks Bel-Air Country Club. It includes a lighted tennis court, five garages, a pool and spa, gym and guest quarters. The house, resembling a French country estate, has a two-story library and a wine cellar that holds 1,000 bottles.
Musk sold the property to fellow billionaire William Ding.
