Elon Musk Strikes Deal to Sell Multiple Homes in Los Angeles
Tesla CEO Elon Musk has moved one step closer to fulfilling his vow to “own no house.”
Los Angeles developer Ardie Tavangarian, known for selling a $75 million megamansion last year, has reached an agreement to purchase multiple Los Angeles properties from Musk, according to a statement from Tavangarian’s company, Arya Group, released Wednesday evening.
Musk, 49, signed a letter of intent to sell the homes to Arya Chalon LLC, a newly established entity created by Tavangarian. The company plans to redevelop the properties into a single, unique development. Arya Group did not disclose the sale price.
The deal includes four homes Musk listed as a package in May for a total of $62.5 million. Among them is a four-bedroom mansion on Chalon Road, along with three other sizable homes on Somera Road, located on the hillside above the Chalon estate.
In mid-May, Musk put more than $100 million worth of California real estate up for sale after unexpectedly announcing on Twitter that he planned to sell most of his possessions. “Don’t need cash,” he tweeted, adding, “Devoting myself to Mars and Earth. Possession[s] just weigh you down.”
That same month, SpaceX, the aerospace company Musk founded, made history by launching NASA astronauts into space from U.S. soil for the first time in nearly a decade.
In addition to the $62.5 million set of homes, Musk listed two more properties on Chalon Road. One of them was reportedly sold this month to Chinese billionaire William Ding for $29 million, while the other, a white-shingle ranch once owned by late actor Gene Wilder, remains on the market for $9.5 million.
Musk also owns a historic 47-acre estate in Hillsborough, California, near San Francisco, which he bought for $23.364 million a few years ago. He is now asking $35 million for the property.
The billionaire’s net worth has surged to $51.7 billion over the past year, according to Bloomberg, which first reported the multi-property deal.
Musk has not yet commented on the transaction.
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