Constellation Research founder Ray Wang notes that Texas has no state income tax, capital gains tax and is a favorable environment for ‘lots of cheap land’ business.
Elon Musk’s tweets can’t always be accepted as facts – making Tesla private for $ 420? – but the CEO of Tesla and SpaceX appears to be fulfilling the promise he made publicly on Twitter last year of “not owning a home”.
Musk closed sales for three more of his California homes last month, the Los Angeles Times reported.
The three adjacent properties at a dead end in Bel Air were sold for a total of $ 40.9 million, according to the report. They included a 9,309 square foot mansion, six beds and seven bathrooms that sold for $ 29.72 million; a 1960s colonial house of 3,943 square feet with four beds and five bathrooms that cost $ 6.77 million and another 1960s house with four beds and four bathrooms on 2,963 square feet that sold for $ 4.43 million.
Elon Musk closed with the sale of three more of his homes in California at the end of last month. (Photos: Getty Images and Google Maps)
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Sales closed on December 21 and 22, according to the report.
Musk, who is now the second richest man in the world, according to Bloomberg, made the bold promise of not owning a home last May, saying in a tweet that he was “selling almost all physical goods”. The reason, he replied to a follower, was “freedom”.
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The billionaire also wrote that his girlfriend, the musical artist Grimes, was “angry” with him after the tweets.
He started listing homes for sale by the owner at Zillow that same month. In June, he made his first sale: a 16,251-square-meter mansion with seven bedrooms, 11 bathrooms and a tennis court. The Wall Street Journal reported at the time that the buyer in the $ 29 million deal was William Ding, CEO of Chinese technology company NetEase.
Elon Musk sold this home in Los Angeles for $ 29 million. (Google Maps)
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A few months later, Musk reportedly sold another of his properties: the former home of actor Gene Wilder. Musk tweeted a stipulation that the house could not “be demolished or lost any [of] your soul. Wilder’s nephew, filmmaker Jordan Walker-Pearlman, paid $ 7 million for the house, Variety reported.
But where will Musk live after selling all his houses? He told The Wall Street Journal last month that he had moved to Texas, where SpaceX has a rocket launch site, Tesla is building a new factory and the billionaire will not have to pay any state income taxes.