The $50,000 Home Of Elon Musk

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As the richest person, it is safe to assume that Elon Musk lives in a luxurious mansion; however it is quite the opposite, he is currently living in a 375 sq ft fold-out home from Boxabl, which he rents for only $50,000. After Elon Musk had sold most of his real estate portfolio, the multibillionaire with a $167.3 billion net worth has decided to live in a simple Casita which was manufactured by the Las Vegas company, Boxabl.

Elon Reeve Musk, an entrepreneur and business magnate who co-founded the electronic payment platform Paypal and has formed a company that launches vehicles and spacecraft into space, SpaceX. He is considered as one of the first significant investors as well as the CEO of the electric car manufacturer Tesla. He is currently the richest man in the world with a $167.3 billion net worth, followed by Jeff Bezos and Bernard Arnault.

How The Idea of Boxabl Was Made

According to the report of Business Insider, the Boxabl Casita is time and cost-efficient with its labor-induced creation. The creator of the portable home, Galiano Tiramani, said that they created a home that is better, cheaper and faster to build. The house they have created is the fastest and cheapest solution to the worldwide housing crisis. The goal of the company is to reduce housing costs dramatically by making the building construction compatible with the assembly line of mass production.

The company also thinks that the transition from a traditional home into a portable home is a lot easier these days. The first product of the company is only a '20 x 20' prefabricated studio apartment, which unfolds from shipping container size. The said home can be installed in the customer’s backyard in about an hour. The idea is wildly innovative, which has a lot of potentials to solve the rising costs of housing and can reduce the homelessness problem in the world. There is currently a huge demand for the product as the company got about $1 billion worth of preorders with about 47,000 people waiting to own their own casita. An average casita takes about seven months to finish, which could really delay the supply of the product.

Features of the Casita That Elon Musk Lives In

The Boxable Casita that the Tesla CEO lives in is a portable 20x20 unit and set up like a studio apartment with a fully equipped kitchen. The casita features a bedroom, bathroom, and living room. The portable foldable home comes with all the necessities that a person could possibly need. The company started the designs with just a basic Casita home until they came up with the Boxabl design, which can cater to different family sizes. The walls used in the casitas are made from concrete, steel, and insulating foam, which makes the house rot resistant. The walls, roof, and floors are made strong enough to resist the force of hurricane winds and loads of snow.

The casita has an open floor plan with a laundry area as well, aside from the basic necessity that one would need in order to survive. It is also energy-efficient and low maintenance, with only 375 square feet of space all in all. Although the house is compact, the place has full-size rooms and can house standard sized appliances and full bathroom on one size and living room and bedroom on the other side. The house was delivered on the back of the semi-truck and a crane in place. The 20×20 Boxabl that Musk lives in was only set up within an hour, and he rents for about $49,500.

Experience of Living In The Casita

Elon Musk has confirmed the reports via his Twitter account that he is indeed living in the casita, which is currently his primary home. He states that the house is in Boca Chica, Texas, which he rents. He also describes the experience in the foldable prefabricated house as awesome. The richest billionaire in the world moved into the casita after he announced that he would be selling most of his physical possessions. True to his words, he did sell almost all of his properties and listed his final pad located in San Francisco in June about $37.5 million. He believes that the large home belongs to a large family who will live in the spacious space.

Despite having billions of wealth, the Tesla owner strives to live a simple life. The current home of the 50-year-old mogul has a layout similar to that of a mini studio apartment, which has a large room divided between the bedroom, bathroom, kitchen, and living room. Compared to his previous houses, the billionaire says living in the casita is such an amazing thing, and he does not plan on moving out of it anytime soon.

Sources: Forbes, Fatherly, Republic World, Business Insider, Architectural Digest