Elon Musk, the famous entrepreneur and CEO of Tesla and SpaceX, dominated the news cycle a few weeks ago. Or, as he’s jokingly referred to in certain circles, the world’s first half-trillionaire! Musk has plutocratic wealth and kleptocratic luxury already in spades. He meets you, even in his treasures and dream abodes, with woeful modesty. This piece explains the jaw-dropping disparity between Musk’s wealth and his own lifestyle. It shows, in a very detailed way, how he decides to spend his estimated $250 billion fortune.
Musk’s growing fleet of private jets should not just be seen as an environmental cost, but a celebration of his riches. His private jets are all long-range Gulfstream models—each worth tens of millions of dollars. He’s known to spend lavishly on air travel, but Musk says there’s more to the extravagant detail. He thinks of it as an essential to manage his high-stress, always-on job. He stated, “If I don’t use the plane, then I have less hours to work,” emphasizing the practicality behind his choices.
In 2020, Elon Musk surprised the world again when he tweeted that he was going to “sell almost all physical possessions.” He controversially proclaimed that he would “own no home.” This comment made waves, especially in light of his purported wealth. There is one area where Musk has kept his promise to live a deeply unromantic lifestyle. In a move that shocked many traditional politicians, by 2021 he disclosed that he had stayed in a modest Texas house worth only $50,000 (£38,000). He even called it “kinda awesome!”
Musk’s current living situation underscores his idiosyncratic approach to personal wealth and material acquisition. He typically relies on friends to put him up as he travels to the Bay Area. That’s where a huge chunk of Tesla’s engineering takes place. He candidly admitted to friend Larry Page, “He’ll e-mail and say, ‘I don’t know where to stay tonight. Can I come over?’” This kind of transparency regarding his unusual accommodations is a refreshing departure from the typical ways of billionaires.
The tech mogul does have an impressive collection of cars, which reflects both his love of cars and his deep pockets. His garage features one of the most beautiful cars ever built, a 1967 Jaguar E-Type Roadster as well as a 1997 McLaren F1. He notoriously wrecked the McLaren and invested a fortune into repairs before he ended up selling it. He just happens to own a Tesla Roadster, the very first model ever sold. To promote the single, in 2018 he actually blasted it into space.
Musk’s appetite for transportation oddities is not limited to conventional luxury car tastes. In 2013, he purchased the legendary 1976 Lotus Esprit used in the James Bond classic The Spy Who Loved Me. He spent almost a million dollars to have this mythical vehicle. This purchase further illustrates his tendency to mix nostalgic childhood hobbies with his passion for tech and innovation.
Despite all the wealth that is the basis of much of Musk’s identity, he has shared some doubts about classic philanthropy. He once remarked, “If you care about the reality of goodness instead of the perception of it, philanthropy is extremely difficult.” He wants us to look beyond the cynical accusation that all altruism is self-serving. It calls for an extension of the purposefully imaginativeness towards building a significant ripple effect.
In discussing his lifestyle choices with Chris Anderson, Musk stated, “Bro does not live like a billionaire. Bro lives at times below the poverty line.” This succinct statement beautifully summarizes the contrast between his balance sheet and his kitchen table. Though incredibly wealthy, he appears to view world-building as meaning more than merely building riches and friendships separately.
As an owner and capitalist, Musk’s approach appears profoundly connected to his overall outlook for the future. He once asserted, “Don’t need the cash. Devoting myself to Mars and Earth. Possession just weigh you down.” This humbly self-expressed sentiment unlocks why he’s so understatedly anti-heroic. In contrast to his remarkable financial accomplishments, he decides on humility.