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The strategy of buying as many neighborhoods as possible is a common method of super rich.

Editor’s note: This article is from WeChat public account “ iFeng Technology ” (ID: ifeng_tech ), Author Xiao Yu.

Musk still runs a real estate business

Following billionaire Elon Musk has boldly bet on future projects such as self-driving cars and space travel, but his eccentric behavior is well known in the industry.

Earlier this week, he testified in a Los Angeles court, telling the jury that his tweet calling British divers a “pedophile” was just a curse, not the kind of dictionary that says “pedophilia” The definition of “the person” is intended to respond to what he considers unprovoked attacks.

But in the personal real estate business, Musk follows the same strategy that many super-rich have adopted: buy as many neighborhoods as possible.

In the past 7 years, Musk and its associated limited liability company (LLC) have bought two streets in the “downtown” and “midtown” of Bel-Air in Los Angeles. 6 homes. This is where celebrities gather, with lush trees and nearby Hotel Bel-Air.

In addition to a 100-year-old luxury home located near Tesla headquarters in Northern California, Musk or its associated limited liability company has invested about $ 100 million in these seven properties. Musk has not yet commented.

Sotheby’s International Real Estate Agent Brian Ades said Musk bought 20,248 square feet (1,881 square meters) in Los Angeles in 2012 after three years of leasing ), A colonial mansion painted in white stucco.

Records show that the limited liability company associated with Musk owns two other properties on the same street, including a ranch-style home that once belonged to actor Gene Wilder. Other records indicate that the ranch-style home has become a private school. Musk once said in an interview with Beijing TV,He founded the school for his five sons.

Musk

In 2015, Musk moved other real estate purchases to an adjacent street, which ends at a steep canyon. A limited liability company called Duck Duck Goose bought an elegant ranch-style home for $ 4.3 million. This company uses the same registered address as the Musk Foundation and the headquarters of Musk’s SpaceX.

A year later, another Musk-linked limited liability company bought a large, unfinished white contemporary home with three doors. More than two years later, another limited liability company bought a white-brick colonial-style house next door, which also used the registered address of SpaceX. These three homes are located in a dead end surrounded by five houses, and neighbors can’t help but wonder if Musk wants to buy the entire street.

The strategy of buying as many neighborhoods as possible is a common method for super-rich people, including billionaires in the technology industry. Facebook CEO Mark Zuckerberg has spent more than $ 50 million on five homes in Palo Alto, California. The late Microsoft co-founder Paul Allen’s residential complex on Mercer Island, Washington, contains 13 different adjacent lots and 8 homes.

Many of the homes Musk bought seem to have appreciated. Sally Forster Jones, executive director of the luxury real estate division of real estate company Compass, said house prices have risen since Musk bought his first home in the above-mentioned neighbourhoods, and selling prices have hit record levels in recent months. Record.

A real estate agent believes that these homes are designed to accommodate employees and partners of various Musk companies. Musk’s neighbours believe that Musk wants to dig a tunnel between two streets to connect his property.

The contract documents show that in December 2018, Musk mortgaged five of these homes (four in Los Angeles and one in Northern California) to Morgan Stanley Private Bank and secured a total of $ 61.3 million in loans.

Here is an overview of Musk’s properties:

Location: Los Angeles, California

Value: bought for $ 5.2485 million in May 2002 and sold for $ 6.453 million in March 2011

Residential information: 6500 square feet (about 604 square meters), 4 bedrooms, 6 toilets

The house was bought by the Musée Bay Area when he married Justine Musk. Musk met Justin while studying at Queen’s University in Canada. Justin said it took them two years to find the house, and the couple had been at the Mondrian and Bay Sands hotels during the search. After the two divorced, Justin acquired the property and sold it to George McCabe, the founder of a Boston investment firm, for $ 6.453 million in 2011.

Location: Los Angeles

Value: Bought for $ 17 million in December 2012, with a current estimated value of $ 22.3 million (real estate website Zillow estimates, the same below)

Residential information: 20,248 square feet (approximately 1881 square meters), 7 bedrooms, 3 bathrooms

Public records show that The Elon Musk Revocable Trust bought the mansion from hedge fund Canyon Capital Advisors co-founder Mitchell Julis.

This 1.7-acre property exceeds the size of Bay Sands Country Club and includes a lighted tennis court, 5 garages, a swimming pool and spa, gym and guest area. The home is like a French country house with a wine cellar that can store 1,000 bottles of wine and a two-story library. The transaction was subsequently transferred to a limited liability company called CallistoRen company, this company is associated with Musk.

Location: Los Angeles

Value: Bought for $ 6.75 million in October 2013, currently estimated value is $ 7.8 million

Residential information: 2756 square feet (about 256 square meters), 3 bedrooms, 3 bathrooms

Record information shows that Musk’s revocable trust bought the home for $ 6.75 million, well below the initial list price of $ 7.995 million. This ranch-style home is directly above Beshawan Country Club and was once owned by Wilder, who bought it for $ 314,000 in 1976. The home was subsequently transferred to a limited liability company associated with Musk.

Ad Astra, a school founded by Musk for his five sons, was here, but the school’s registered address subsequently became 17 miles away, an address for a building leased by SpaceX in Hawthorne, California.

Location: Los Angeles

Value: Bought for $ 20 million in July 2015, currently estimated value is $ 20 million

Residential information: 7026 square feet (approximately 653 square meters), 6 bedrooms, 8 bathrooms

Public records show that the house was built in 1954 and changed in 2009. In 1998 and 2002, it changed hands for $ 1.825 million and $ 2.49 million. Until 2015, a limited liability company called Camellia Ranch bought it for $ 20 million. Camellia Ranch’s mailing address is SpaceX headquarters, and it shares a mailbox with Musk’s family office, Succession LLC. Musk’s Jared Birchall is listed as an authorized signatory.

Location: Hillsborough, San Francisco, California

Value: Bought for $ 23.364 million in June 2017, currently estimated value is $ 27.2 million

Residential information: 16,000 square feet (about 1486 square meters), 10 bedrooms, 9 bathrooms

Inherited from the family of the French noble descendant de Guigne, this 100-year-old mansion covers 47.4 acres and has views of the San Francisco Bay Area. It has a swimming pool, hiking trails and a ballroom. In 2013, the mansion was sold to the market for the first time, when the owner was 78-year-old Christian de Guigne IV. He proposed a sale condition to maintain a lifetime property in the mansion, dedicated to his life.

In 2017, a Musk-linked limited liability company bought the mansion for $ 23.364 million, for only about a third of the original $ 100 million list price. The only recorded renovation permit since Musk bought the mansion was in October 2018, when cabinets were replaced.

Location: Brentwood, Northern California

Value: bought for $ 3.695 million in August 2014 and sold for $ 3.925 million in August 2019

Residential information: 3,000 square feet (about 279 square meters), 4 bedrooms, 4 bathrooms

Records show that in August 2014, just one year after Musk remarried actor Talulah Riley, a limited liability company associated with Riley bought this for $ 3.695 million. Residential. It was built in 1959 and has 4 bedrooms in a medieval modern style. In December 2019 and August 2019, this home was sold for $ 4.5 million and $ 3.925 million.