Elon Musk Sells Bel-Air Mansion To Fellow Billionaire William Ding For $29 Million

By on June 27, 2020 in ArticlesBillionaire News

Elon Musk is continuing to follow through on the pledge to "own no house" which he made earlier this year. The Wall Street Journal is reporting that Musk has sold his Bel-Air mansion for some $29 million to fellow tech billionaire William Ding, himself the founder and CEO of a Chinese internet company known as NetEase.

Musk made his pledge to get rid of all his real estate in the first part of May, which is also when this property was originally listed for $30 million, meaning Ding got a slight $1 million discount, possibly a courtesy from one billionaire to another. Interestingly, the listing stated the property as being "for sale by owner," which is somewhat unusual in luxury properties at this level, especially when the owner is as famous (and, presumably, busy) as Elon Musk.

Built in 1990, the 16,251-square-foot mansion was purchased by Musk in 2012 for $17 million. It has seven bedrooms and 11 bathrooms, with amenities like a large two-story library, spacious guest suite, home theater, wine cellar, and "large entertaining spaces, high ceilings and fine finishes" that have been remodeled and modernized at least once since the house was constructed. Out back there's a swimming pool and tennis court, as well as a fruit orchard, motor court, and five-car garage, all sharing space with what the listing calls a "vast grassy yard."

Mike Windle/Getty Images

The property was reported to be one of at least six Musk owns in the immediate area, including one former home that he now uses as a private school for his kids. But the controversial industrialist seems to have lost his enthusiasm for real estate, telling the Wall Street Journal in May that he's "trying to make my life as simple as possible right now, so will only keep things that have sentimental value." It seems clear that this property, at least, didn't have more than $29 million worth of that for Musk.

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