07/11/2025
How Elon Musk Spends His Fortune
Elon Musk, the billionaire entrepreneur behind Tesla and SpaceX, has remained one of the world’s wealthiest individuals for several years. Despite his vast fortune—he even became the world’s first half-trillionaire—Musk maintains that he leads a surprisingly modest lifestyle.
A Simple Life Behind Immense Wealth
In 2021, Musk revealed that he lived in a modest $50,000 home in Texas near SpaceX’s headquarters. His former partner, musician Grimes, told Vanity Fair that Musk’s lifestyle is far from what people expect of a billionaire, claiming that he “lives at times below the poverty line.” She even recalled that he refused to replace a mattress that had developed a hole on her side.
While Musk’s day-to-day living may appear humble, he has not entirely avoided indulgence. He owns a collection of rare vehicles and several private jets worth tens of millions of dollars. Most notably, he made headlines in 2022 for his $44 billion acquisition of Twitter.
The Luxury Mansions He Sold
Musk once owned an extensive real estate portfolio, including seven homes in Bel-Air, California, valued at more than $100 million. These properties featured swimming pools, tennis courts, wine cellars, and a ballroom. Among them was a ranch-style home once owned by W***y Wonka actor Gene Wilder.
However, in 2020, Musk announced he would be “selling almost all physical possessions” and “owning no house.” True to his word, he sold his properties, stipulating that Wilder’s former home must never “lose its soul.” He later sold it to Wilder’s nephew, Jordan Walker-Pearlman, even providing him with a multi-million-dollar loan to complete the purchase. After the buyer defaulted on payments, Musk reclaimed the property in 2025.
Today, Musk’s only known residence is a small prefabricated home near SpaceX’s Texas base, located in the newly established city of Starbase. He has said that when traveling, he often stays in friends’ spare rooms, describing himself as “kind of homeless.”
Cars That Are Out of This World
Although Musk no longer spends lavishly on homes, he is passionate about cars—especially those with historical or technological significance. His collection has included a Ford Model T, a 1967 Jaguar E-Type Roadster, and a 1997 McLaren F1, which he famously crashed and repaired before selling.
In 2018, Musk’s personal Tesla Roadster was launched into space aboard a SpaceX rocket. Perhaps the most unusual car in his collection is the 1976 Lotus Esprit, known as “Wet Nellie,” from the James Bond film The Spy Who Loved Me. Musk purchased it in 2013 for nearly $1 million, intending to rebuild its underwater transformation feature.
Flying for Efficiency
Musk has stated that his use of private jets is driven by efficiency rather than luxury. “If I don’t use the plane, then I have fewer hours to work,” he told TED in 2022. His fleet includes several Gulfstream jets, which he uses to travel between Tesla and SpaceX facilities across the United States and abroad.
A Different Kind of Philanthropy
While Musk has donated billions of dollars in Tesla shares to various charities, his philanthropic style has drawn criticism. The New York Times described his giving as “haphazard and largely self-serving,” noting that many donations benefited organizations linked to his businesses.
The Musk Foundation states that its mission is to advance humanity through “ground-breaking scientific research, technological innovation, and ambitious endeavors.” However, tax filings revealed that the foundation has, at times, fallen short of required donation levels.
Musk has said that he views his companies themselves as philanthropic efforts. “If you say philanthropy is love of humanity, then they are philanthropy,” he told TED. According to Musk:
Tesla promotes sustainable energy,
SpaceX ensures the long-term survival of humanity, and
Neuralink works to solve brain injuries and manage AI-related risks.
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