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Elon Musk ‘sells LA mansion for $29M to Chinese tech billionaire’ after promising to give up all ‘physical possessions’


ELON Musk has sold one of his Bel-Air homes in Los Angeles for $29million to a Chinese tech billionaire, it has been reported.

It comes after the Tesla Inc. and Space X CEO announced last month he would sell “almost all physical possessions”.

The house Elon Musk sold for $29million
Elon Musk announced on Twitter he would sell almost all his physical possessions

Musk, 48, wrote on Twitter: “I am selling almost all physical possessions. Will own no house.”

He added: “Don’t need the cash. Devoting myself to Mars and Earth. Possession just weigh you down.”

Now Musk is making good on that promise, selling one of his homes in the Bel-Air area of LA.

The property had been listed for $30million in early May, The Wall Street Journal reported, quoting public records.

The listing was unique as it was “for sale by owner”, meaning the billionaire did not use an agent to sell the house.

Musk bought the property for $17 million in 2012 from Mitchell Julis, co-founder of hedge fund Canyon Capital Advisors, according to the report.

The new buyer is William Ding – real name Ding Lei – a Chinese billionaire businessman who is the founder and CEO of tech company NetEase.

Ding Lei, founder and CEO of tech company NetEase, bought the property
Getty Images – Getty

The company, which has its headquarters in Guangzhou, develops online and mobile games, e-commerce platforms, advertising and email services in China.

It was founded in 1997 by Ding Lei and has secured its spot as one of China’s largest gaming companies.

Forbes reports that Ding in 2003 was China’s richest man, as well as the country’s first Internet and gambling billionaire.

The home Musk sold is located in lower Bel-Air and overlooks the Bel-Air Country Club.

The 16,251sqft mansion features six bedrooms, 11 bathrooms, a two-story library, swimming pool, and a tennis court.

The swimming pool on the home’s back patio
One of the mansion’s features is a tennis court

It also features a gym, pool, a wine cellar, fruit orchard and a five-car garage.

A second Bel-Air home sold by Musk is still listed at  $9.5million and used to be owned by late Willy Wonka actor, Gene Wilder, who died in 2016.

It features five bedrooms, 4.5 bathrooms, an oval pool and a private guest cottage.

In November 2013, Musk purchased the three-quarter-acre Bel Air home for $6.75million.

In one of his tweets, Musk said he would sell the home, but added: “Just one stipulation on sale: I own Gene Wilder’s old house.

The property was listed for $30million but sold for $29million

“It cannot be torn down or lose any its soul.”

In May, Musk put four properties up for sale in Los Angeles’ Bel-Air neighborhood – and a mansion in Hillsborough, a town in the San Francisco Bay Area.

The asking price for the four LA homes is $62.5million and $35million for the Hillsborough property, Bloomberg reported.

On May 3, two of Musk’s Bel Air properties were listed for a combined asking price of $39.5million on Zillow.

After opening up about selling his possessions, he then admitted in a regretful tweet that his girlfriend, 31-year-old Grimes, was “mad” at him.

Grimes – whose real name is Claire Boucher – and Musk welcomed their first child together in May and the proud parents shared the first photos of their baby on Twitter.

Their baby has been uniquely named, X Æ A-12 – causing much speculation.

Musk said his girlfriend Grimes was ‘mad’ at him for selling the property
AFP or licensors
The couple had a baby that they named X Æ A-12 last month
Refer to Caption


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