It’s been almost two years since Elon Musk announced his plan to sell nearly all of his assets, including real estate. On May 1, 2020, he tweeted: “I will not own any houses”. The billionaire has so far sold seven of the homes he once owned in California.
From June 2020 to November 2021, Musk sold all 7 homes he owned with a total value of about 127.9 million USD, making a profit of about 25 million USD, although he may have mortgaged some of them. at the time, according to PropertyShark and public records.
Buyers include Kirill Evstratov, 37-year-old founder and CEO of fintech firm Unlimint, real estate developer Ardie Tavangarian and Chinese billionaire and NetEase founder William Ding. Musk sold the house once owned by the late actor and director Gene Wilder to Wilder’s 53-year-old grandson Jordan Walker-Pearlman.
Evstratov spent $ 30 million in February to buy Musk’s Hillsborough mansion, he said: “I still intend to own the house.” The London-based company Unlimint is planning to open an office in San Francisco later this year, but Evtratov says the house is for his own use.
Neighbors say that since Evstratov bought the property, the Hillsborough property has been almost completely quiet with little traffic around. This is a big change from the months-long rowdy parties and constant appearance of Teslas when Musk owns the house.
Among the buyers, Walker-Pearlman interfered with the house’s architecture the least, even the decoration. He has only purchased some more furniture since October 2020. This is also the time when he bought the house in Bel-Air for $ 7 million. Walker-Pearlman stumbled across the house for sale on the real estate exchange, and then he sent a letter to Musk to see if he decided to sell it to him. This sale is done after 4 months of negotiation.
Four of Musk’s homes in Bel-Air have gone to Tavangarian (63), known for his massive mansions in LA. He spent about $62 million in December 2020 on these homes, which are located on two different streets built in colonial to modern glass styles. Between these two neighborhoods is an empty land with a steep slope.
Meanwhile, Musk said he lives in a rented house from SpaceX worth about $50,000, near the Mexican border and the company’s rocket test site. It is known that the billionaire has denied information that he is looking to buy real estate in Austin (Texas) and Tahoe (California).
Location: Hillsborough, California
Price when Elon Musk bought: $23.364 million
Price when Elon Musk sells: 30 million USD
Buyer: Kirill Evstratov
Evstratov is the new owner of this villa in November 2021. Perched on a treetop hill, about 20 minutes south of San Francisco and north of Silicon Valley, this home was once owned by a family for 150 years.
The house is decorated in Dai Trung Hai style, measuring nearly 1,500 square meters on a land of 192 hectares, including 5 bedrooms, a ballroom and a flower arrangement room. Before Musk bought it in 2017, this house was owned by Count Christian de Guigné – part of the French aristocracy. Mr. de Guigné’s family said the villa was designed by architects Bliss & Faville around 1912.
Evstratov is the newest owner. He owns a small software company in Hong Kong, specializing in billing software for various industries. He started Cardpay in 2009 and changed its name to Unlimint in 2020.
Evstratov learned of the Bay Area while living in Palo Alto to attend Stanford University’s business school. This experience played a big part in Musk’s decision to buy the house, he said. He said: “I had a great time living there. I met wonderful people with whom I still keep in touch and learn from experienced professors.”
Location: Los Angeles
Price when Elon Musk bought: 6.75 million USD
Price when Elon Musk sells: $7 million, with a loan of $6.7 million for buyers
Buyer: Jordan Walker-Pearlman and Elizabeth Hunter
This property in Bel-Air has an area including farm and guest house of 256 square meters. The house was once owned by Mr. Wilder, who bought it in 1976 for $314,000. The Elon Musk Revocable Trust acquired it in 2013. Located above the Bel-Air Country Club, this house is located across from the mansion that Elon Musk was staying at at the time. He used the house to host parties and the Ad Astra school he founded for his children was registered at this address.
As a child, Walker-Pearlman used to live with his uncle at this house in the summer and a few other months of the year. He shared that he has many memories with this house. So, when a friend sent him a tweet that Musk wanted to keep the architecture of the house intact, Walker-Pearlman contacted Musk immediately.
Musk agreed to sell the home to Walker-Pearlman and his wife for $7 million, through a “deed of trust and assignment of the lease,” agreeing to lend the couple $6.7 million.
Location: Los Angeles
Price when Elon Musk bought: 54.95 million USD for 4 houses
Price when Elon Musk sold: total value of 61.88 million USD
Buyer: Ardie Tavangarian
In 2015, Musk spent $20 million on a six-bedroom, 653-square-foot house on a 138-hectare site in Bel-Air through Camellia Ranch LLC. Built in 1954, this home sold for $5,087 million before it took on a new owner, Musk.
That same year, Duck Duck Goose, a limited liability company with the same address as the Musk Foundation and SpaceX’s headquarters, purchased a one-story house on an adjoining street for $4.3 million. A year later, Musk’s other company bought a large, unfinished house, and more than two years later, another company with connections to SpaceX bought the colonial, white-brick house right next door. .
All 3 houses are located at the end of the street, the land consists of 5 houses. This makes people around wonder if Musk wants to “occupy” the end of the street or not.
Tavangarian came to America as an exchange student at the age of 15. He came to LA to attend the Southern California Institute of Architecture and is known for selling super luxury homes. In 2019, a house he built in the Bel-Air area was sold to a Chinese tycoon for $75 million. In July 2021, he sold a house for $83 million.
Location: Los Angeles
Price when Elon Musk bought: 17 million USD
Price when Elon Musk sells: $29 million
Buyer: William Ding
In 2012, after 3 years of renting this house, Elon Musk Revocable Trust bought this 1880 m2 colonial-style mansion with 7 bedrooms and 13 bathrooms from Mitchell Julis – co-founder of hedge fund Canyon Capital Advisors.
This house is located on an area of nearly 7 hectares, used by Musk as the main residence, including 1 outdoor tennis court, 5 garages, 1 swimming pool and spa, gym and guest area. The house is designed like a country estate in France, has a 2-storey library and a wine cellar with 1,000 bottles.
In June 2020, Musk sold the house to Mr. Ding. Ding is worth about $26 billion, according to the Bloomberg Billionaires Index.
Refer to WSJ