Elon Musk has reached a historic milestone after SpaceX became a publicly traded company, making him the first person in history to become a trillionaire. But despite his enormous wealth, Musk’s personal living situation remains surprisingly simple.
SpaceX raised $75 billion in its IPO on Thursday after selling more than 555 million shares at $135 each, giving the rocket and satellite company a valuation of $1.77 trillion. The company’s stock jumped nearly 20 per cent on Friday, reaching $162 per share and pushing Musk’s net worth past the trillion-dollar mark when his SpaceX holdings and Tesla shares were taken into account.
Yet, while Musk’s fortune has reached unimaginable levels, his everyday home is a small prefabricated house in Texas, according to Fortune magazine.
Elon Musk’s house in Boca Chica
Photo Credit: X @DimaZeniuk
A $50,000 Home Near SpaceX Headquarters
After moving to Texas in 2020 and shifting his companies there, Musk sold most of his luxury properties in California. He did buy several properties near Austin worth around $35 million, but he has said his main residence is a much smaller place near SpaceX’s Starbase facility in Boca Chica, Texas.
Musk revealed in 2021 that he lives in a house worth around $50,000, which he rents from SpaceX.
“My primary home is literally a approximate $50k house in Boca Chica/Starbase that I rent from SpaceX. It’s kinda awesome though,” he wrote on X.
The compact home was built by housing startup Boxabl and measures just 20 feet by 20 feet. According to Chron, a news website based in Texas, it includes a living area, bedroom space, kitchen and a bathroom with a tub-shower.
The simple setup stands in contrast to the larger homes connected to Musk’s companies. Sources told the Wall Street Journal that companies linked to him own at least three houses in Austin’s wealthy West Lake Hills area, each ranging from 6,000 to 9,000 square feet and featuring swimming pools.
A Lifestyle Built Around Work
Musk’s small home reflects his long-standing habit of staying close to his businesses. In 2023, his biographer Walter Isaacson shared a picture of the interior and described it as a “spartan two-bedroom” home where Musk would “sit at this wood table and make phone calls”.
Musk’s mother, Maye Musk, also described the modest conditions during a visit earlier this year.
“There is no food in the fridge. The garage where I slept is on the right. The shower only has one towel, so I left it for Elon. That was okay with me. When I was a child, I’d spend three weeks in the Kalahari Desert without showering. Many times. There was no water. I think my parents prepared me for this luxury,” she wrote in a post on X.
There is no food in the fridge. The garage where I slept is on the right. The shower only has one towel so I left it for Elon. That was okay with me. When I was a child, I’d spend three weeks in the Kalahari Desert without showering. Many times. There was no water. I think my… https://t.co/8XT04q5DQg
— Maye Musk (@mayemusk) March 10, 2026
Known for his intense work schedule, Musk has often chosen convenience over comfort. During Tesla’s Model 3 production struggles, he reportedly slept at the company’s California factory.
Reactions On Social Media
Internet users are divided on Musk’s choice of an abode. A user on X wrote, “To those wondering : Elon Musk still lives in a modest apartment despite being a trillionaire. If you are mad at him for having money, maybe you are simply just jealous or a socialist communist.”
Another user wrote, “…Personally, this is the kind of person I want to be a trillionaire. He’s not flaunting his wealth. His liquid cash isn’t even a billion dollars, and more than 99% of his net worth is tied up in the company’s performance…”
However, a Reddit user claimed that these tactics are just employed to show Musk is a man of the people. “People who believe that crap are fools. He can make claims that are technically true, while using tricks like buying properties via companies he controls, and still hoard wealth while his cult thinks he’s a man of the people”, the user wrote.
