Hannah Grace Culture 12.23.2021 03:Dec AM EST

Elon Musk House: Is Tesla CEO Living in $50,000 Home or $12 Million Mansion?

Are you curious to know about Elon Musk's house? The Tesla CEO claimed that he lives in a humble $50,000 home; however, some reports stated that he is staying at a friend's $12-million mansion in Lake Austin.

Elon Musk House

Since the billionaire originally announced his move to Texas in 2020, the possibility of the world's richest man residing or purchasing property in Austin has sparked discussion and speculations, per Statesman.

While Musk has proudly declared himself a resident of Texas, it is less apparent whether he is also a resident of Central Texas.

As Forbes reported, Musk stated that his main residence is a $50,000 small house that he rents. It is said to be in Boca Chica, near SpaceX's spaceport.

However, according to a report published by the Wall Street Journal on Wednesday, the billionaire has spent the previous year living at a luxurious mansion by Lake Austin.

The said mansion is reportedly owned by his longtime friend Ken Howery.

On the other hand, Wall Street Journal also noted that Musk might be seeking his own property in the area since multiple real estate brokers reportedly showed him residences for sale in the Austin area.

He allegedly expressed interest in several homes, including a custom-made mansion owned by Kendra Scott, an Austin-based jewelry designer.

However, when asked for a statement, Scott declined to speak to the Journal.

The Wall Street Journal article, though, was declared false by both Musk and Howery.

In a response to Insider, Musk stated that "the WSJ article is false. I don't live there and am not looking to buy a house anywhere"

Howery clarified through a text message to Wall Street Journal following the publication of its article that Musk "does not live at my home, he lives in South Texas. He stayed at the house as my guest occasionally when traveling to Austin."

For much detailed information, Howery's mansion, which was mentioned by Wall Street Journal, is part of the Watersedge development and is located near Mount Bonnell.

The $12-million-dollar mansion features about 8,000 square feet of interior space, a waterfront pool, a jacuzzi and a private boat dock in a gated community with a guardhouse, per Forbes.

Howery acquired the said mansion in 2018. It was the most expensive property on the market in Austin at the time.

Elon Musk Net Worth

As of writing, Elon Musk's net worth is more than $261 billion, and he still holds the title of the richest man in the world, per Forbes' Real-Time Billionaires List.

The South-African-born business mogul is followed by Jeff Bezos, the founder of Amazon, and Bernard Arnault. Musk is the only billionaire with a net worth of more than $200 billion in real-time.

Furthermore, Elon Musk's Tesla electric vehicle company and SpaceX rocket company are both trying to transform transportation on Earth and in space. He owns 23 percent of Tesla but has committed more than half of his holdings as loan security.