Elon Musk explains why he's selling all his possessions

Elon Musk lists five more California properties for a combined $97.5m after vowing to sell his material possessions

The Tesla founder said he wanted to focus on goals like 'getting to Mars' and avoiding criticism for his wealth

Graig Graziosi
Thursday 14 May 2020 17:05

Tesla founder Elon Musk appears to be making good on his bizarre decision to give up his worldly possessions.

Two weeks since he announced his intention to free himself from the bondage of owning multiple million-dollar properties, Mr Musk has put five more properties on the marketing, whose combined worth is $97.5m.

Two weeks earlier, Mr Musk made an odd and seemingly out of the blue remark saying he was "selling almost all physical possessions. Will own no house." He then listed two of his properties in Bel Air worth a combined $39.5m.

He noted that the only stipulation he was making was that one of the properties - which formerly was owned by Gene Wilder - could not be torn down.

"It cannot be torn down or lose any [of] its soul," Mr Musk said in a tweet.

He conceded that the stipulation might result in the house selling for less, but said he didn't care, so long as the house remained unchanged.

In one of his recent listings - a mansion in Bel Air - Mr Musk described it as a "project for the big thinker" and possessing "one of the best views in Los Angeles."

Mr Musk said he wanted to sell his homes and possessions as a way to help him focus on his major goals, like reaching Mars.

"What's more important, Mars or a house?" Mr Musk said. "Allocating time to build a house, even if it was a really great house, still is not a good use of time relative to developing the rockets necessary to get us to Mars and help us solve sustainable energy."

He went on to say that he didn't spend a lot of time in any of the houses, despite owning several.

Mr Musk - who is worth more than $38bn according to Forbes - told Joe Rogan on a recent episode of The Joe Rogan Experience that he also wanted to shed the homes because they add to his "billionaire" image and leave him vulnerable to class-based criticism.

"They're kind of an attack vector," Mr Musk said. "They say 'Hey billionaire, you've got all this stuff.' Well, now I don't have any stuff. Now what are you going to do?"

Mr Musk - whose father was a co-owner of a Zambian emerald mine who once described being so wealthy that "at times we couldn't even close our safe" - has not announced any plans to part with his wealth

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