Just declared “homeless”, Elon Musk sold 7 villas and “pocketed” nearly 130 million dollars
It’s been almost two years since Elon Musk announced his plans to sell nearly all of his assets, including real estate. On May 1, 2020, he tweeted: “I won’t own a house”. The billionaire has so far sold seven homes he once owned in California.
From June 2020 to November 2021, Musk sold all 7 homes he owned for a total of about $127.9 million, making a profit of about $25 million, though he may have mortgaged some of them by then, 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 that was 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 buying Musk’s Hillsborough home, he said: “I still intend to own the house.” London-based company Unlimint plans 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 deserted with little traffic around it. It’s a big change from months of rowdy parties and Tesla’s constant appearances when Musk owned the house.
Among buyers, Walker-Pearlman least interfered with the home’s architecture, even the decor. He’s only bought a few more pieces of furniture since October 2020. This is also when he bought a house in Bel-Air for $7 million. Walker-Pearlman stumbled across a house for sale on the real estate exchange, and then he wrote Musk a letter to see if he decided to sell it to him. This sale was made after 4 months of negotiations.
Four of Musk’s Bel-Air homes have moved to the 63-year-old Tavangarian, known for his LA mansions. He spent an estimated $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 a vacant lot with a steep slope.
Meanwhile, Musk says 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 wants 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 sold: 30 million USD
Buyer: Kirill Evstratov
Evstratov is the new owner of the villa in November 2021. Perched atop 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, about 1,500 square meters on 192 hectares of land, including 5 bedrooms, a ballroom and flower arrangement room. Before Musk bought it in 2017, the house was owned by Count Christian de Guigné – part of the French aristocracy. Mr. family de Guigné said the villa was designed by architects Bliss & Faville circa 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 his name to Unlimint in 2020.
Evstratov learned about the Bay Area while living in Palo Alto to attend Stanford University’s business school. This experience played a big role in Musk’s decision to buy the house, he said. He said: “I had a great time staying there. I met amazing people with whom I am still in touch and learning from experienced professors.”
Location: Los Angeles
Price when Elon Musk bought: 6.75 million USD
Price when Elon Musk sold: $7 million, with a $6.7 million loan to buyers
Buyers: Jordan Walker-Pearlman and Elizabeth Hunter
This property in Bel-Air has an area including a farm and a 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, the house is opposite the mansion where Elon Musk was staying at the time. He uses the house to hold parties and the Ad Astra school he founded for his children is listed at this address.
As a child, Walker-Pearlman used to live with his uncle in this house in the summers and several other months of the year. He shares that he has many memories with this house. So, when a friend tweeted that Musk wanted to keep the architecture of the house intact, Walker-Pearlman immediately contacted Musk.
Musk agreed to sell the house to Walker-Pearlman and his wife for $7 million, through a “deed of trust and lease assignment,” agreeing to loan the couple $6.7 million.
Location: Los Angeles
Price when Elon Musk bought: 54.95 million USD for 4 houses
Price when Elon Musk was sold: total value 61.88 million USD
Buyer: Ardie Tavangarian
In 2015, Musk spent $20 million building a 653-square-foot six-bedroom home on 138 acres in Bel-Air through Camellia Ranch LLC. Built in 1954, the house sold for $5.087 million before having a new owner, Musk.
That same year, Duck Duck Goose, a limited liability company with the same address as the Musk Foundation and SpaceX headquarters, purchased a one-story house on an adjoining street for $4.3 million. A year later, another Musk company bought the unfinished mansion, and then more than two years later, another company with connections to SpaceX bought the colonial white brick house next door. .
All 3 houses are located at the end of the road, the land consists of 5 houses. This left those around wondering whether Musk wanted to “occupy” the end of the road 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-luxurious 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 the house for $83 million.
Location: Los Angeles
Price when Elon Musk bought: 17 million USD
Price when Elon Musk sold: $29 million
Buyer: William Ding
In 2012, after 3 years of renting this house, the Elon Musk Revocable Trust purchased this 1880 m2 colonial style mansion with 7 bedrooms and 13 bathrooms from Mitchell Julis – co-founder of hedge fund Canyon Capital Advisors.
The house, which is located on an area of almost 7 hectares, is 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 the French countryside, 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.
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