Elon Musk’s ‘main home’ is now a tiny 375 square foot prefabricated rented house worth just $50,000 

Elon Musk, the world’s third richest man, is living in a tiny home worth just $50,000 on the SpaceX site in Texas. 

Over the past year, Musk has sold most of his real estate portfolio and listed his final property last month. 

The 50-year-old revealed in a tweet that he now resides in a modest rented home at his company’s Boca Chica, Texas, launch site that is worth just $50,000 – less than the cost of a base Tesla Model S.

‘My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though,’ he wrote, saying he also had an ‘events house’ in the Bay Area.

The entrepreneur, listed by Forbes as the world’s third richest man with a fortune of $167.3billion, is believed to be living in a 375-square-foot modular home made by the company Boxabl, according to the Musk fan blog Teslarati and the Houston Chronicle.

Though Musk has not confirmed the name of the company that made his home, a Boxabl unit appears to be visible on the site on Google Earth.

The company’s homes are tiny but stylish, set up like a studio apartment with an open plan living area, kitchen and bedroom, with an adjacent bathroom. 

The properties are assembled from a folded box made of concrete panels and steel.

The 50-year-old revealed in a tweet that he now resides in a modest rented home on his company’s Boca Chica, Texas launch site, worth just $50,000 – less than the cost of a base Tesla Model S. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The entrepreneur is believed to be living in a 375-square-foot modular home made by the company Boxabl, according to the Musk fan blog Teslarati and the Houston Chronicle. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

‘My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though,’ he wrote in early June, saying he also had an ‘events house’ in the Bay Area. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The company’s homes are tiny but stylish, set up like a studio apartment with an open plan living area, kitchen and bedroom, with an adjacent bathroom. Pictured: A model of a Boxabl Casita

Teslarati reported that the model Musk, who is said to be worth $167.3 billion, is renting is a mass-produced 20 feet x 20 feet ‘foldable prefabricated home,’ named the Boxabl Casita. 

Boxabl has not confirmed whether Musk is living in one of its homes but in November announced it had built a Casita for a ‘high-profile’ and ‘top secret’ customer in Boca Chica.  

The Las Vegas-based company set up in 2017 with the aim of building homes that could be shipped anywhere.

Co-founder Galiano Tiramani told the New York Post: ‘The goal of the company is to mass-produce housing on a scale and at a cost that’s never been done before,’ Galiano added. ‘We want to make housing dramatically more affordable for the world.’

The Casita model was the first of the company’s designs and, in a possible nod to Musk, the company has demonstrated it being configured for use on Mars.  

The company has also pitched the use of its housing units as a means to expand Starbase, Teslarati reported. 

Boxabl has not confirmed whether Musk is living in one of its homes but in November announced it had built a Casita for a ‘high-profile’ and ‘top secret’ customer in Boca Chica

Though Musk has not confirmed the name of the company that made his home, a Boxabl unit is appears to be visible on the site on Google Earth (above)

Over the past year, Musk has sold most of his real estate portfolio and listed his final property last month [File photo]

Last summer, Musk began selling his real estate portfolio, saying he intended to give up most of his assets to focus on his mission to Mars. 

‘I am selling almost all physical possessions. Will own no house,’ the entrepreneur tweeted in May 2020. 

Musk listed his last remaining home, a California Bay Area mansion for sale in June for $37.5 million.

The home is on Crystal Springs Road in Hillsborough, and was used chiefly as a rental space for events, he said. 

Musk said he would like to sell it to a large family who will live there. ‘It’s a special place,’ he tweeted. 

Musk had gone on a spree the past 13 months, selling six of his properties, as well as one in 2019, for a total of $114 million.

He said he was doing it as a way to defuse criticism of his wealth, telling podcast host Joe Rogan last May: ‘I think possessions kinda weigh you down. And they’re kind of an attack vector. People say, ‘Hey, billionaire, you got all this stuff.’ ‘Well, now I don’t have the stuff — now what are you gonna do?” 

Boxabl set up in 2017 with the aim of building homes that could be shipped anywhere. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The company has pitched the use of its housing units as a means to expand Starbase, Teslarati reported. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

Musk has gone on a spree the past 13 months, selling six of his properties, as well as one in 2019, for a total of $114 million. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The announcement that Musk was selling his mansion on Crystal Springs Road meant he has nearly rid himself entirely of his properties in California