Tesla CEO Elon Musk says he is selling his 'last remaining house'; here's why

Tesla CEO Elon Musk has decided to sell his "last remaining house." Taking to Twitter he called the property, in California's Bay Area a "special place" and said that he wanted to sell it to a large family. His decision comes a week after a ProPublica report said Musk and other billionaires such as Jeff Bezos and Warren Buffett paid little or no income taxes for several years. 

Elon Musk selling his last house

Earlier this month Elon Musk had tweeted that he only has one house in the San Francisco Bay area that is rented out for events. The tweet came in response to a thread started by a user named Pranay Pathole, who, in light of the ProPublica report, shared his insight on how things were for the billionaire. Replying to his tweets, he said that he will keep paying income taxes in California "proportionate to my time in the state". While responding to another user, Musk said that his primary home is an accommodation he has rented from SpaceX in Boca Chica which is worth around $50K.

Last week, a Twitter user asked him, "Did you sell off mostly everything like you had mentioned to downsize your life and focus on Mars and make us multi-planetary?". In his response, Musk said that he had sold all his houses except the one house in Bay Area that has been rented out for events. He mentioned that he has been working on "sustainable energy for Earth with Tesla and protecting future of consciousness by making life multi-planetary with SpaceX". He also talked about Tesla stock that he plans to sell Tesla stock when his stock options are "expiring" and he had no other choice.

ProPublica report

ProPublica on June 8 reported citing confidential Internal Revenue Service (IRS) records it had reviewed that Amazon founder Jeff Bezos did not pay any federal income tax in 2007 and 2011. The report mentioned that Tesla CEO Elon Musk managed to skip paying taxes in 2018. However, Musk in his tweet said that he will continue to pay taxes in California in proportion with his time in the state, which he said will be significant. 

IMAGE: AP