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Elon Musk explains why he lives in tiny £40k house and doesn't need a bigger one

Elon Musk explains why he lives in tiny £40k house and doesn't need a bigger one

The SpaceX owner said his friends are shocked by the small home

If you were a billionaire, what would you have your home look like? Maybe include a pool? A walk-in wardrobe? Or perhaps just a place where you could have the heating on all the time, without worrying about the energy bill?

Any one of those features would be nice, and Elon Musk could have them all, and much, much more.

Elon Musk lives in a $40k house.
PowerfulJRE/YouTube

But instead, he's opted to rent a moderate two-bed house worth just £40,000.

It's a small price for a house when you genuinely have the ability to pay for a rocket into space, but Musk insisted that it's all he needs after he previously shared a tweet declaring his plans to sell 'almost all physical possessions'.

"Will own no house," he wrote in 2020.

Musk announced plans to sell all of his possessions in 2020.
Twitter/@elonmusk

The following year, Musk confirmed that he has one 'primary home' - the '$50k (£40k) house in Boca Chica / Starbase that [he rents] from SpaceX'.

"It’s kinda awesome though," he said.

The Tesla CEO added at the time that he did own an 'events house' in the Bay Area, though claimed that the house would 'see less use' if he sold it, 'unless bought by a big family'.

Musk's home is just three bedrooms.
Twitter/@elonmusk

Musk spoke further about his housing situation in an interview with Full Send podcast last year, where he explained that the £40k house in Boca Chica, Texas is conveniently located near SpaceX's factory.

"It's a tiny, small, small house... it was right next to the rocket factory. So, I can just literally walk to the factory, it's half an hour away," he said.

Musk created an extra bedroom in the home by converting the garage, though he admitted that friends are still stunned to see how small it is.

Musk has turned the home into a three bedroom.
Twitter/@elonmusk

"When friends come to stay in it, they can't believe I live in this house... I find if I am by myself, it is fine," he said.

In another interview, Musk told Joe Rogan that sure, he could spend some of his time building a great house, but that would take his attention away from the numerous other projects he's busy juggling.

"I think I do have high productivity... allocating time to building a house, even if it was a really great house, is still not a good use of time relative to developing the rockets necessary in getting us to Mars and helping solve sustainable energy," he said.

Musk does own a Boxabl Castia which he uses as a guest house.
Boxabl/YouTube

Preferring to stay small when it comes to houses, Musk revealed that he also owns a prototype Boxabl Casita - a 'tiny home' measuring just 375-square-foot.

Although, it is primarily used as a guest house for friends to stay in.

Again, probably not what you'd expect when visiting a billionaire, but free is free, I suppose.

Featured Image Credit: PowerfulJRE /YouTube/GEORGE NIKITIN/EPA-EFE/Shutterstock

Topics: Elon Musk, Money, Celebrity