How Elon Musk spends his $200 billion fortune – from the humble $40,000 house to costume parties at the English castle and the Bond submarine

HE may be one of the richest men alive, but Elon Musk lives a surprisingly humble existence… for a billionaire.

The tech billionaire – worth $215.4 billion – vowed to give up all his possessions in 2020, but how true is he to his word?

Elon Musk is worth an estimated $215 billion thanks to companies like PayPal, Tesla and SpaceX

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Elon Musk is worth an estimated $215 billion thanks to companies like PayPal, Tesla and SpaceXPhoto credit: Getty – Contributor
The billionaire rented a $50,000 pre-built box before downsizing into a nearby $45,000 home

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The billionaire rented a $50,000 pre-built box before downsizing into a nearby $45,000 homeCredit: Boxable

Unlike Amazon’s Jeff Bezos, who spent $42 million building a watch or former Google CEO Larry Page’s 200-foot yacht, Musk is surprisingly tight on his fortune.

The 51-year-old says while he’s asset rich with Tesla and aerospace company SpaceX, he insists he’s cash poor.

He said: “It is important to understand what is this wealth?

“It’s not like I have a huge cash balance.

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“My cash balance is very, very low, at least until I sell stocks.”

So it’s no wonder that the South African, with his eccentric spending habits, counts every penny.

From his tiny Texas home to lavish costume parties, we bring you what Musk spends his billions on.

“Tiny” $45,000 house

Musk sold the last of his in March seven luxury properties in Los Angeles.

The sale included his mammoth Bel Air estate, which cost a staggering $29 million.

Musk vowed to sell all his worldly possessions — including his $29 million Bel Air mansion

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Musk vowed to sell all his worldly possessions — including his $29 million Bel Air mansionPhoto credit: Sotheby’s International Realty

In 2020, the billionaire tweeted, “I’m selling all physical possessions. Will not own a house.”

But when he needed a crash site near SpaceX near Boca Chica, Texas, Musk first rented a 20ft x 20ft prefab home made by small house company Boxabl.

But he took root when he invested in a $45,000 “tiny” house near the office.

He admitted: “It’s small. It’s very small. It’s a tiny… it’s a tiny, tiny house.”

He added, “It’s right next to the missile factory, so I can literally walk to the missile factory, it’s about half a mile.”

Elon even incorporated a bit of handwork to give it a little more space.

He said: “Technically it’s a three-bedroom house, but it used to be a two-bedroom house.

“I converted the garage into a third bedroom.”

Ditch Essentials

His former girlfriend, the singer Grimes, who lived with him in Boca Chica, was not happy about his stinginess and unwillingness to buy groceries at all.

she said vanity fair this year: “Bro doesn’t live like a billionaire… Bro lives below the poverty line at times.

“To the point where I was like, ‘Can’t we live in a very insecure $40,000 house?

Ex-partner Grimes complained to Vanity Fair about Musk's miserliness

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Ex-partner Grimes complained to Vanity Fair about Musk’s miserlinessPhoto credit: Getty – Contributor

“Where the neighbors are filming us and there’s no security and I’m eating peanut butter for eight days straight?”

She added that the billionaire even refused to buy them a new mattress when theirs broke.

Will squirt out to the party

However, Musk isn’t afraid to get ready for a lavish party — especially a costume party.

He is said to have rented an entire English castle for his medieval 30th birthday.

Elon dresses up as an Egyptian god (left) at a Halloween party at the Playboy mansion with pal Sean Parker and ex-Talulah Riley

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Elon dresses up as an Egyptian god (left) at a Halloween party at the Playboy mansion with pal Sean Parker and ex-Talulah RileyPhoto credit: Getty

Guests reportedly played hide and seek, according to Ashlee Vance’s book Elon Musk: Tesla, SpaceX and the Quest for a Fantastic Future.

He also threw a company party in Venice and dressed up as a knight.

In 2015 he dressed as an ancient Egyptian god Hugh Hefner’s Halloween party at the Playboy Mansion.

His then-wife Talulah Riley wore an Alice in Wonderland outfit, while his pal and Napster creator Sean Parker dressed up as a mushroom.

Very sensible wardrobe

Musk’s signature pair of black or blue jeans with a black t-shirt.

Occasionally he mixes it with a graphic tee – including his company’s “Occupy Mars” shirt.

Elon's t-shirt only cost him $30 - and also funds his SpaceX company

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Elon’s t-shirt only cost him $30 – and also funds his SpaceX companyCredit: Unknown, clear with picture desk

The top can be purchased on SpaceX’s website for just $30, which will be used to stuff its pockets. Knock-Offs are available online for just £11.

Though he’s mostly dressed casually, Musk is a red carpet and white tie fanatic.

He was seen carrying it Day, this year Carrera Caliber 1887 SpaceX Chronograph – valued at around £4,950.

No vacation policy

When Musk took a free ride Endeavor CEO Ari Emmanuel’s yacht in Greece that summer, his doughy skin became the subject of jokes.

No wonder Musk is so pale when he swore off vacation in 2003.

Pasty Musk only took a two-week vacation once in 12 years

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Pasty Musk only took a two-week vacation once in 12 yearsPhoto credit: BackGrid

He has reportedly taken just two weeks off in 12 years since SpaceX was founded.

In 2018 he told The New York Times: “There were times when I didn’t leave the factory for three or four days – days when I didn’t go outside.

“It was really at the expense of my children. And to see friends.”

His most expensive expenses? Marry

One of the biggest drains on Musk’s finances has been his three fairly expensive divorces.

His first divorce from Canadian writer Justine Musk cost the tech boss around $20 million in 2008.

Musk's two divorces from actress Talulah Riley cost $16 million

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Musk’s two divorces from actress Talulah Riley cost $16 millionPhoto credit: Rex

After the payout, Musk had to borrow money after stacking all his cash in SpaceX, according to friends Business Insider.

He married Pride & Prejudice actress Talulah Riley in 2010, but they then divorced twice — once in 2012 and a year after their remarriage in 2013.

Both splits from Talulah cost Musk a cool $16 million and the pair remain friendly.

Though Musk has nine children, it’s not clear if he’s paying child support for all of them.

In Texas, where Musk lives, there is a child support cap $9200 a month.

Vulnerability for expensive cars

Before Musk sold all his worldly possessions in 2020, he had a penchant for fancy cars.

He spent $1 million on The Spy who Loved Me’s water transformer car, known as Wet Nellie, in 2013.

But Musk didn’t realize the car was just a prop for cinematic purposes.

Little did Elon know the $1 million James Bond submarine car was just a prop

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Little did Elon know the $1 million James Bond submarine car was just a propPhoto credit: The Mega Agency

He said: “I was disappointed to learn it can’t actually morph.

“What I’m going to do is upgrade it with a Tesla electric powertrain and try to really transform it.”

He also bought a $1 million McLaren F1 after selling the company he founded, Zip2, which his brother Kimbal founded.

But in 2000, on the way to an investor meeting, he crashed the engine.

He later revealed that he had left the car, stating: “The McLaren is a great car.

“It’s a work of art, a really nice piece of engineering, but I didn’t want people to keep writing that I have a high-performance petrol sports car, so I decided to sell it.”

Musk sold the McLaren at a profit — despite having to shell out for repairs to the front end and glass.

Associated Hobbies

In his free time, Musk enjoys hanging out and watching TV.

He’s reportedly paying an $8.99 monthly Netflix subscription like the rest of us – with Black Mirror being a favorite.

The CEO also spends his weekends watching anime and historical documentaries.

In one New York Times In an interview with his then-girlfriend Grimes, he said: “Right now we’re going back to Genghis Khan for the third time, and to the Mongols, I think.”

https://www.thesun.ie/tech/9555379/elon-musk-200bn-fortune-tiny-home-luxury/ How Elon Musk spends his $200 billion fortune – from the humble $40,000 house to costume parties at the English castle and the Bond submarine

Fry Electronics Team

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