Elon Musk, the CEO of Tesla, has been one of the world’s wealthiest individuals for several years, and his fortune recently soared to new heights, making him the first person to reach a half-trillion-dollar net worth. Despite this immense wealth, Musk has maintained that he leads a modest lifestyle, far from the extravagant luxuries many associate with billionaires.
In 2021, Musk revealed that he lived in a simple $50,000 home in Texas, which was far from the opulent mansions one might expect from someone of his wealth. His former partner, Grimes, echoed this sentiment in a 2022 interview, describing Musk as living well below the line of luxury, even at times resembling a more humble lifestyle. She mentioned that Musk had once refused to buy a new mattress, despite a hole in hers. “Bro does not live like a billionaire. Bro lives at times below the poverty line,” she explained.
While his everyday living situation is low-key, Musk does indulge in a few luxuries—most notably, his collection of unique cars, including a vehicle that can transform into a submarine, and his fleet of private jets, which are worth millions.
A notable splurge came in 2022 when Musk purchased Twitter for a hefty $44 billion.
The Real Estate Flips
Musk’s real estate history is a tale of change. He once owned a sprawling portfolio of properties in Bel-Air, California, where he spent a reported $100 million over seven years to acquire seven homes in the prestigious neighborhood. These homes were equipped with extravagant amenities, such as swimming pools, a tennis court, a wine cellar, a private library, and even a ballroom. One property was previously owned by Gene Wilder, the actor famous for portraying Willy Wonka.
However, in 2020, Musk made a drastic decision to sell nearly all of his physical possessions, including his real estate holdings. He stated in a tweet that he would “own no house” and was instead focused on the long-term goal of advancing humanity’s future on Mars and Earth. He also shared that “possessions just weigh you down.”
There was one exception: Musk’s purchase of Gene Wilder’s house, which he later sold to Wilder’s nephew with a multi-million-dollar loan, ensuring that the property’s integrity was preserved. In June 2025, Musk reclaimed the house after the nephew struggled with repayment.
By 2021, Musk confirmed that his primary residence was a modest prefab house worth around $50,000, located near the SpaceX headquarters in Texas. Musk described it as “kind of awesome,” emphasizing its simplicity. In a 2022 interview, Musk even claimed that he no longer owned any property, opting instead to stay in friends’ spare bedrooms when visiting other parts of the US, including the Bay Area, Tesla’s engineering hub.
This minimalist lifestyle isn’t a new thing for Musk. In 2015, Google CEO Larry Page remarked that Musk was “kind of homeless,” describing how Musk would occasionally ask if he could crash at Page’s place. Though there have been rumors over the years that Musk is quietly buying properties, the Texas house remains the only confirmed property he owns.
A Passion for Cars
While Musk may not splurge on real estate, cars are a different matter. As the CEO of Tesla, Musk is well-known for his love of unique vehicles. His collection includes a Ford Model T, which is credited with revolutionizing the car industry by making automobiles affordable for the average person. He also owns a 1967 Jaguar E-Type Roadster, a 1997 McLaren F1 (which he famously crashed and spent a significant amount of money repairing), and a Tesla Roadster—the first model Tesla ever sold, which Musk made famous by launching it into space in 2018.
But perhaps his most extraordinary vehicle is a 1976 Lotus Esprit, famously driven by James Bond in the 1977 film The Spy Who Loved Me. In the film, the car can transform into a submarine, and Musk purchased it at auction in 2013 for nearly $1 million with the intention of restoring its aquatic capabilities.
Flying High
Musk has also been known to invest heavily in private jets. He has multiple Gulfstream models, each costing tens of millions of dollars. Musk defends his lavish spending on planes, claiming that using them is vital to his work efficiency. He has stated that flying in private jets allows him to maximize his working hours by reducing travel time, which he considers essential to managing his various business ventures.
Philanthropy with a Twist
Musk’s charitable giving has been a topic of much discussion. While he has pledged billions of dollars in donations and shares to various causes, his philanthropy has received criticism for being “haphazard” and sometimes self-serving. According to The New York Times, his donations often benefit initiatives tied to his businesses, which can provide him with tax advantages.
The Musk Foundation, his charitable organization, states its mission as advancing humanity through groundbreaking scientific research, technological innovation, and ambitious projects that push the boundaries of what’s possible. However, the foundation has been scrutinized for failing to meet its giving obligations in recent years.
Musk has often expressed skepticism toward traditional philanthropy. In 2022, he explained his perspective during a TED interview, stating that philanthropy, as it is commonly practiced, is difficult if one is focused on the “reality of goodness” rather than the perception of it. For Musk, the very existence of his companies—Tesla, SpaceX, and Neuralink—is a form of philanthropy in itself, as he believes they are advancing humanity’s future. Tesla’s work in sustainable energy, SpaceX’s efforts toward interplanetary survival, and Neuralink’s focus on addressing brain injuries and AI-related risks are, in his view, contributions to a better future for humanity.
In short, while Musk’s wealth may be staggering, his approach to spending it is more unconventional and focused on long-term goals, whether it’s advancing technology or minimizing personal consumption.
