As one of the world’s richest men, Elon Musk can easily afford to drop hundreds of million of dollars on any lavish home he wants. Instead, the multibillionaire is living in a $50,000 tiny home in Boca Chica, Texas, where his SpaceX headquarters are located.
Musk—who has an estimated net worth of $160.4 billion, per Forbes—announced the news of his humble abode in a tweet last month. “My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though,” he wrote. Now, a recent report by fan blog Teslarati and the New York Post reveals that said house is actually a foldable, prefabricated home made by Boxabl, a housing startup company.
The “Boxable Casita” that the Tesla CEO reportedly lives in is a transportable 20×20 unit that’s only about 400 square feet. It is set up like a studio apartment and features a fully equipped kitchen, bathroom, living room, and bedroom. Though this has yet to be officially confirmed, the company hinted in a promotional video posted in November that one of the Casitas was installed “for a top-secret customer.”
The 50-year-old mogul’s move comes more than a year after he announced in a tweet that he was “selling almost all physical possessions” and “will own no house.” Musk has since fulfilled that promise, selling most of the properties in his real estate portfolio. Most recently, in June, he listed his final pad, located in San Francisco, for $37.5 million. The home “just needs to go to a large family who will live there,” he tweeted, confirming the news. “It’s a special place.”