Tesla and SpaceX CEO Elon Musk said on Monday that he has decided to sell the last house he owned. He said he wants the “special place” to go to a large family who will reside there. Mr. Musk said last week that he has only one house in the San Francisco Bay Area, which has been rented out for events. He has been tweeting and responding to his followers on the matter for a week after a report generated huge interest claiming that Mr. Musk and other billionaires such as Jeff Bezos and Warren Buffett pay little – or sometimes no – income tax compared to their massive wealth.
Decided to sell my last remaining house. Just needs to go to a large family who will live there. It's a special place.
— Elon Musk (@elonmusk) June 14, 2021
Mr. Musk's tweet came in response to a thread started by Pranay Pathole, an assistant systems engineer with Tata Consultancy Services, who regularly shares tweets on the Tesla and SpaceX CEO. In light of the ProPublica report, which said Mr. Musk paid no federal income tax in 2018 and paid very less by billionaire standards in 2015 and 2017, the Pune-based Pathole had sought to address the complex financial matter himself and shared his ideas on how things were for the billionaire.
Replying to his tweets, Mr. Musk partially addressed the curiosity about his tax planning, and said he will keep paying income taxes in California proportionate to his time in the US state, “which is and will be significant”.
Exactly. Only time I sell Tesla stock is when my stock options are expiring & I have no choice.
— Elon Musk (@elonmusk) June 9, 2021
Btw, I will continue to pay income taxes in California proportionate to my time in state, which is & will be significant.
Responding to another tweet by a different Twitter user, Mr. Musk said his primary home is an accommodation he has rented from SpaceX in Boca Chica town, now known as the Starbase area, in Texas for nearly $50,000. Musk moved to Texas last year.
My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It's kinda awesome though.
— Elon Musk (@elonmusk) June 9, 2021
Only house I own is the events house in the Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen some day.
However, last week, when a Twitter user asked him, “Did you sell off mostly everything like you had mentioned to downsize your life and focus on Mars and make us multi-planetary?”, Mr. Musk said “Yeah” and outlined the projects he has been working on.
Yeah, sold my houses, except for 1 in Bay Area that's rented out for events.
— Elon Musk (@elonmusk) June 9, 2021
Working on sustainable energy for Earth with Tesla & protecting future of consciousness by making life multiplanetary with SpaceX. Also, AI risk mitigation with Neuralink & fixing traffic with Boring.
Mr. Musk first announced plans to sell his houses more than a year ago to address the criticism of his wealth.
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