What does Elon Musk do with all his money?

Tesla boss Elon Musk has been one of many world’s richest folks for a number of years now, and that wealth just lately went stratospheric when he turned the primary half-trillionaire.

Regardless of this, Musk has insisted he leads a largely unglamorous life-style. He mentioned in 2021 that he lived in a Texas residence valued at $50,000 (£38,000).

His former accomplice Grimes, with whom he has two kids, advised Vanity Fair in 2022 that he doesn’t reside the extravagant lifetime of extra luxurious many assume.

“Bro doesn’t reside like a billionaire. Bro lives at instances beneath the poverty line,” she advised the journal. As soon as, she mentioned, he refused to purchase a brand new mattress, regardless of her aspect having a gap in it.

Whereas his day-to-day dwelling quarters will not be as lavish as one would possibly count on, he’s identified to have a love of distinctive automobiles, together with one that may morph right into a submarine. He additionally has a personal jet assortment, value many hundreds of thousands of {dollars}.

After which there was that small splurge again in 2022, when he bought Twitter for an off-the-cuff $44bn.

Musk as soon as had a powerful real-estate portfolio. The Wall Street Journal reported in 2019 that he had spent $100m on seven homes in about seven years – most of them a stone’s throw from one another within the prestigious neighbourhood of Bel-Air, California.

Collectively, the properties boasted swimming swimming pools, a tennis courtroom, wine cellar, non-public library and a ballroom. One was a ranch home as soon as owned by legendary Willy Wonka actor Gene Wilder.

However in 2020, Musk had a change of coronary heart – tweeting that he would be “promoting virtually all bodily possessions” and “will personal no home”.

“Do not want the money. Devoting myself to Mars and Earth. Possession simply weigh you down,” he wrote.

There was one stipulation – that Gene Wilder’s home, “can’t be torn down or lose any [of] its soul”.

He did certainly promote the three-bedroom property – to Wilder’s nephew, Jordan Walker-Pearlman, after giving him a multi-million greenback mortgage to purchase it. However in June 2025, Musk reclaimed possession, after Mr Walker-Pearlman reportedly fell behind on the repayments.

In 2021, Musk tweeted that his “main residence” was a modest prefabricated home that value him about $50,000 on the southern tip of Texas, the place his aerospace firm SpaceX operates – an space that has formally turn out to be a metropolis known as Starbase.

“It is kinda superior,” Musk mentioned in regards to the humble dwelling.

The next yr, Musk mentioned he didn’t personal a house in any respect, utilizing it for instance of how low his consumption is, regardless of his huge wealth.

“I am actually staying at pals’ locations,” he advised head of media organisation TED, Chris Anderson. “If I journey to the Bay Space, which is the place most of Tesla engineering is, I principally rotate by pals’ spare bedrooms.”

That is nothing new – in 2015, then-Google CEO Larry Web page advised creator Ashlee Vance that Musk was “sort of homeless”.

“He’ll e-mail and say, ‘I do not know the place to remain tonight. Can I come over?'”

There was varied hypothesis over time that Musk is shopping for up properties across the US, nonetheless the house in Texas seems to be the one official home he personally owns.

Whereas Musk doesn’t spend huge on property, automobiles are a unique matter.

Because the proprietor of Tesla, it isn’t stunning that he has a big assortment of surprising, and in some circumstances extraordinary, autos.

They’ve included a Ford Mannequin T, the twentieth Century automobile credited with being the primary reasonably priced automobile, revolutionising the motor trade.

Others have been a 1967 Jaguar E-Sort Roadster, which Musk is claimed to have coveted since he was a toddler; a 1997 McLaren F1, which he crashed and spent some huge cash repairing earlier than promoting; and a Tesla Roadster, which was the primary Tesla mannequin to go on sale and was famously fired into space by Musk in 2018.

Probably the most uncommon, nonetheless, is the 1976 Lotus Esprit pushed by James Bond within the 1977 movie The Spy Who Beloved Me.

Within the movie, the automobile, nicknamed Moist Nellie, may remodel right into a submarine. Musk purchased the automobile in an public sale in 2013 for nearly $1m with the purpose of creating its submarine transformation capabilities a actuality as soon as extra.

Musk has admitted that planes are one other factor he’s blissful to splurge on, however insists it’s to do along with his dedication to his work.

“If I do not use the airplane, then I’ve much less hours to work,” he mentioned within the 2022 TED interview.

Among the many non-public jets in his assortment are numerous Gulfstream fashions, which value tens of hundreds of thousands of {dollars} every.

He makes use of them to journey between SpaceX and Tesla websites within the US, in addition to for worldwide journey.

Musk has donated billions of dollars in shares to charities, in line with US regulatory paperwork, and has pledged many hundreds of thousands to numerous causes. However his philanthropy has been criticised.

The New York Times final yr known as it “haphazard and largely self-serving – making him eligible for huge tax breaks and serving to his companies”.

His charitable organisation, the Musk Basis, says on its web site that it’s “devoted to advancing humanity’s progress by ground-breaking scientific analysis, technological innovation, and impressive endeavours that push the boundaries of what’s doable”.

However the New York Occasions reported that the inspiration fell short of the amount it was required to give away for 3 years in a row. The paper, which noticed the inspiration’s tax filings, additionally discovered that lots of its donations went to organisations with hyperlinks to Musk.

Elon Musk, and the Musk Basis have been contacted for remark.

When requested about philanthropy and charitable causes up to now, Musk seemed to be sceptical of conventional charitable items.

“I feel when you care in regards to the actuality of goodness as an alternative of the notion of it, philanthropy is extraordinarily tough,” he advised Chris Anderson in 2022.

To Musk, the very existence of his enterprise ventures is philanthropic: “When you say philanthropy is love of humanity, they’re philanthropy,” he insisted.

Tesla is “accelerating sustainable power”, he mentioned, whereas Area X “is attempting to make sure the long-term survival of humanity” and Neuralink “is attempting to assist resolve mind accidents and existential threat with AI”.