Elon Musk worth $500bn says critics target his wealth as he sells all homes to live in $50K tiny house

Elon Musk, with an estimated net worth of $500 billion, says his critics continue to target his wealth despite his giving up most of his possessions and choosing to live in a small home near SpaceX’s Starbase in Texas.

The Tesla and SpaceX CEO revealed that he sold all his houses years ago to focus on his companies and live a simpler life.

In a 2020 post on X (formerly Twitter), Musk said he was “selling almost all physical possessions” and would “own no house.”

By 2021, he confirmed that he had followed through, adding that his primary residence is a modest $50K tiny house rented from SpaceX in Boca Chica.

“People used to say I own too many homes—well, now I don’t,” he said at the time.

Despite this, reports have continued to speculate about new properties linked to the tech billionaire. 

That said, Musk has denied rumours of owning any luxury estates or building a family compound in Austin, clarifying that any real estate investments in Texas are tied to his companies, not his personal life.

While Musk remains the world’s richest person, he insists he prefers practicality over extravagance.

“My focus is on innovation, not possessions,” Musk once said, echoing his minimalist lifestyle.