Why Elon Musk wants to sell his Last Remaining House?

Alan Joseph Alan Joseph
Jun 15, 2021 4 min read
Why Elon Musk wants to sell his Last Remaining House?

Elon Musk had always been in the lime light and lately has been facing a lot of criticism due to the cryptocurrency market as well as questions raised on his sustainability projects. The most recent criticism faced by him was about non payment of taxes and very little payment of taxes.

However, any tweet posted by Elon Musk had always been the headlines of the news, even the recent tweet as well. Elon Musk had gone to Twitter and tweeted that he would want to sell his last remaining house. Letโ€™s look at why he would want to sell his house.

Elon Musk โ€“ Latest News
Reason Why Elon Musk is selling his house
Major Reason Why Elon Musk is selling his house
FAQ

Elon Musk โ€“ Latest News

The Chief Executive Officer of Tesla, Elon Musk had conveyed through Twitter that he is going to sell his last remaining house. The tweet was posted on 9 June 2021 which is a week after Elon Musk and other billionaires were criticized for the payment of their tax returns.

Elon musk said that he had decided to sell his last remaining house and added that it is a special place and would want to find a large family who would want to live there.

He conveyed that he had only one house left in the San Francisco Bay area which is being rented out for events to be held and added that if he would sell it, the house would see a lesser use until and unless it is bought by a large family.


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Reason Why Elon Musk is selling his house

Elon Musk had mentioned through his tweet which said that he had sold all his property and houses and there was only one left in the Bay area of San Francisco which is actually rented out for events to be held.

He further added in his tweet that he is working on sustainable energy on Earth with the help of Tesla, protecting the future of consciousness by trying to make life multiplanetary by working on SpaceX, working on AI risk mitigation through Neuralink and fixing the traffic faced with The Boring Company.

The Chief of Tesla, Elon Musk had announced about his plans to sell his property more than a year ago. This was a step taken by the him in order to cut down the criticism he faced regarding his wealth. However, it was found the within the span of few days he had put two of his properties for sale in the market.


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Major Reason Why Elon Musk is selling his house

One of the major reasons was because at the beginning of June 2021 Elon Musk, CEO of Amazon, Jeff Bezos and the Chairman of Berkshire Hathaway. Elon Musk had been criticized for paying a very little amount as Income Tax returns when compared to the wealth they possess. This was regarding the citing of valuable resources by the Internal Revenue Service Data on Tax returns for the thousands of Wealthiest Americans.

It was found that Elon Musk had paid no income taxes in the year 2018 and had paid around USD 70, 000 in the years 2015 and 2019. After the report from Pro Publica, Elon Musk had conveyed that he would keep paying the Income Tax in the state of California with regards to his stay in the place.

Elon Musk's house in Boca Chica
Elon Musk's house in Boca Chica 

Elon Musk had moved from California to Texas the previous year and conveyed that he rents a property which is estimated to be around USD 50,000. It is a house in Boca Chica from the Space Exploration Technologies Corp and also has a launch site in the area.

Conclusion

Elon Musk had been criticized for an innumerable amount of reasons lately and the most effective was the video that was released by the Anonymous group which had exposed a lot of controversies against the billionaire.

FAQ

Why Elon Musk sold his houses?

One of the reasons that Elon Musk sold his houses could be to cut down the criticism he faced regarding his wealth.

What is the Net worth of Elon Musk?

The estimated net worth of Elon Musk is 15,320 crores USD.

How much is Elon Musk's house worth?

Elon Musk sold a contemporary 9.309-square-foot mansion with six bedrooms and seven bathrooms for $29.72 million. He also sold a Colonial-style home for $6.77 million, and a third small property for $4.43 million.

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