Elon Musk to sell last remaining California home
The Tesla CEO is making good on a promise to "own no house"
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Elon Musk has announced plans to put his last remaining house in California on the market.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 357.09 | +11.93 | +3.46% |
The move comes as the SpaceX and Tesla founder continues to follow through on a promise made back in May of 2020 to shed almost all of his physical possessions and "own no house".
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"Decided to sell my last remaining house," Musk tweeted on Monday. "Just needs to go to a large family who will live there. It's a special place."
Earlier this month, Musk confirmed that his only remaining house is in the San Francisco Bay Area, which is rented out for events.
Musk reportedly sold his Bel-Air mansion in June 2020 for $29 million. He also reportedly sold three of his other California homes for a total of $41 million in January, a month after officially making the move down to Texas after frustrations with California over its COVID-19 stay-at-home orders.
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The decision to further downsize comes as Musk is working on providing sustainable energy for Earth with Tesla and "protecting the future of consciousness" by making life multi-planetary with SpaceX. In addition' Musk says he's working on "artificial intelligence risk mitigation" with Neuralink and fixing traffic with the Boring Company.
The billionaire has also faced criticism for his massive wealth. A ProPublica report earlier this month revealed that Musk paid $455 million in income taxes on $1.52 billion in total income between 2014 and 2018. His wealth grew by $14 billion over the same period, according to the report. Following ProPublica's findings, Musk vowed he would continue to pay income taxes in California "proportionate to my time in state, which is & will be significant."
Musk's primary home is a roughly $50,000 house located in Boca Chica, Texas which he rents from SpaceX.