Kicking off a major Selling Spree, Elon Musk Sells His Bel Air Mansion

LuxuryJuly 5, 2020

American billionaire businessman Elon Musk, the owner of Tesla Motors, sold one of his luxury mansions in Bel Air, Los Angeles, for $29 million. The buyer was Chinese businessman and billionaire Ding Lei, also known as William Ding. This news alone may not be very alarming, but what may shock you is learning that this is the first step of Elon Musk in a comprehensive plan aimed at selling his entire property.

CNBC | Elon Musk has set out on the path to sell off his entire property

You read that right!

Musk, 48 years of age, sold one of his seven homes in California that were put up for sale after he announced via his Twitter account that he intended to sell his house. He was quoted as saying that he was selling nearly all his physical possessions, and one day will come when he will “own no house.” He further added that there was only one condition for sale, and that was that he would own Jane Wilder’s house.

Read – 11 of Elon Musk’s Most Controversial and Surprising Tweets

How the big reveal happened

During an interview taken by Joe Rogan in May on a podcast program, Elon Musk was quoted saying that he believed that property underestimated people’s existence and that it was also a starting point for criticism. He seemed to be challenging the people who throw statements like “you’re a billionaire, you have everything” at home by saying that he was going to sell off everything he had and then see what they were going to do about it!

The Bel Air mansion sale

And indeed, Elon Musk, with a net worth estimated to be about $38 billion, has offered to sell the rest of his homes in California. His collection of properties includes seven houses, out of which, only one has been sold so far. That house was initially listed for $30 million, but it finally sold for $29 million. When Musk had bought this huge house in 2012, it had cost him $17 million.

RobbReport | The house is an extensive property Musk bought in 2012 for $17 million

The sale was considered as unique as the owner himself did it. Musk didn’t hire a real estate agent to list the property, and later, the mansion appeared on the Billow real estate website. The villa, which covers 16,251 square feet, includes six bedrooms, 11 bathrooms, a two-story library, a swimming pool, tennis court, gym, fruit orchard, and a five-car garage.

Read – The 5 Largest Mansions in Los Angeles

Introducing the buyer

As already revealed, the buyer of the extensive property is William Ding, a CPPCC member and the founder and CEO of NetEase, a technology company in Guangzhou, China. The company develops Internet games, mobile phones, e-commerce platforms, and advertising and email services in China. It’s one of the largest gaming companies out there.

Ding has a fortune of $23.5 billion, and in 2003, he was the wealthiest man in China, in addition to being the country’s first Internet billionaire and gambling tycoon.