What Does Elon Musk Do With All His Money?

November 10, 2025

Elon Musk has long been one of the wealthiest individuals on the planet, his fortune built on groundbreaking ventures in electric vehicles, renewable energy, and space exploration. In recent years, his net worth soared to previously unimaginable heights, with some estimates placing him as the world’s first half-trillionaire.

Yet for someone commanding that level of wealth, Musk’s personal lifestyle is surprisingly modest — at least by billionaire standards. The Tesla and SpaceX CEO often claims he lives simply, owns few personal luxuries, and devotes his resources primarily to advancing technology and humanity’s future.

A Billionaire Without a Mansion

In 2021, Musk revealed that his primary residence was a prefabricated home worth around $50,000, located in Boca Chica, Texas — near the SpaceX launch facility now known as Starbase. “It’s kinda awesome,” he wrote on social media, praising the compact structure’s simplicity and functionality.

That same year, Musk tweeted that he was “selling almost all physical possessions” and would “own no house,” declaring that possessions “just weigh you down.” He sold several multimillion-dollar properties in Los Angeles’ exclusive Bel-Air neighborhood, where he once owned as many as seven homes collectively valued at over $100 million.

Among those was a ranch house previously owned by actor Gene Wilder, star of Willy Wonka & the Chocolate Factory. When selling the property, Musk insisted that it could not “be torn down or lose any of its soul.” He even loaned Wilder’s nephew the money to purchase it — but in 2025, after the buyer fell behind on repayments, Musk reportedly reclaimed ownership.

While he once enjoyed sprawling estates with pools, libraries, and ballrooms, Musk appears content today with minimalist living. In interviews, he has even claimed to couch surf when traveling for work. “If I travel to the Bay Area, where most of Tesla engineering is, I rotate through friends’ spare bedrooms,” he told TED’s Chris Anderson.

His former partner, musician Grimes, confirmed his low-maintenance habits in a 2022 Vanity Fair interview: “Bro does not live like a billionaire. Bro lives at times below the poverty line,” she said, recounting how Musk once refused to replace a mattress despite a hole on her side.

The Car Collector

While Musk may not spend lavishly on homes, he does have a fascination with vehicles — unsurprising for the man behind Tesla. His collection includes both historic and futuristic cars, some with unique stories behind them.

Among his favorites is a Ford Model T, the automobile that revolutionized the early 20th-century motor industry. He also owned a 1967 Jaguar E-Type Roadster, a car he reportedly dreamed about as a child, and a 1997 McLaren F1, a rare supercar that he famously crashed before later selling.

Of course, no list would be complete without his Tesla Roadster, the first model produced by his electric car company — and the same one he launched into orbit aboard a SpaceX Falcon Heavy rocket in 2018.

But perhaps his most extraordinary acquisition is a piece of cinematic history: the 1976 Lotus Esprit “Wet Nellie” from the James Bond film The Spy Who Loved Me. The iconic car, which transformed into a submarine in the movie, was purchased by Musk in 2013 for nearly $1 million. He once revealed his goal to engineer a real-life submersible version, inspired by his passion for innovation and science fiction.

Jets for Efficiency, Not Luxury

Musk also owns several private jets, primarily Gulfstream models, which cost tens of millions of dollars each. However, he insists they’re tools for productivity rather than indulgence.

“If I don’t use the plane, I have fewer hours to work,” he told TED in 2022, noting that his schedule often involves traveling between Tesla’s headquarters, SpaceX facilities, and international destinations.

His flight activity has sometimes drawn criticism, with environmental advocates questioning the sustainability of his travel habits. Yet Musk argues that his broader work — advancing electric transportation and sustainable energy — offsets those emissions many times over.

A Complicated Relationship With Philanthropy

Musk’s approach to charity has long attracted both praise and skepticism. Regulatory filings show that he has donated billions of dollars in Tesla stock to charitable organizations, often through his Musk Foundation.

According to its website, the foundation is “dedicated to advancing humanity’s progress through groundbreaking scientific research, technological innovation, and ambitious endeavors that push the boundaries of what is possible.”

However, The New York Times reported in 2024 that the foundation failed to meet annual minimum giving requirements for several consecutive years and often directed donations to organizations connected to Musk or his business interests. Critics have described his philanthropy as “haphazard” and primarily designed for tax benefits.

Musk, for his part, rejects traditional notions of charity. “If you care about the reality of goodness instead of the perception of it, philanthropy is extremely difficult,” he said in a 2022 interview.

He believes his companies themselves are philanthropic in nature. “If you say philanthropy is love of humanity, then they are philanthropy,” he argued. “Tesla is accelerating sustainable energy; SpaceX is ensuring humanity’s long-term survival; Neuralink is helping solve brain injuries and mitigate risks from AI.”

The Twitter (X) Gamble

One of Musk’s most famous financial moves came in 2022, when he purchased Twitter for a staggering $44 billion, later rebranding it as X. The acquisition was less a display of extravagance and more an expression of Musk’s belief in the importance of free speech and digital infrastructure.

Still, the move significantly impacted his finances and public perception. Many analysts questioned the wisdom of spending such a large portion of his wealth on a social media company with inconsistent profitability. Musk maintained that the investment was a long-term bet on global communication — not a luxury purchase.

Where the Rest Goes: Mars, AI, and the Future

Unlike many billionaires who focus on traditional investments or lavish estates, Musk channels most of his fortune into his own companies and research projects.

At SpaceX, he funds the Starship program, an ambitious effort to make human life multi-planetary. At Tesla, he continues to invest heavily in energy storage, AI-driven vehicles, and sustainable infrastructure. Through Neuralink, he explores the interface between the human brain and computers, while The Boring Company focuses on futuristic tunnel-based transportation systems.

For Musk, wealth is a tool — not an endpoint. “Don’t need the cash. Devoting myself to Mars and Earth,” he once tweeted. “Possessions just weigh you down.”

The Paradox of Elon Musk

Elon Musk’s financial behavior is filled with contradictions. He’s a billionaire who couch-surfs, a minimalist who owns million-dollar jets, a philanthropist who questions philanthropy, and a businessman who risks billions on what he sees as civilization-saving ventures.

His choices — whether practical, eccentric, or visionary — reveal a person driven less by comfort and more by an unrelenting belief that his resources must serve a higher purpose. Love him or criticize him, Musk’s approach to wealth challenges traditional ideas of what it means to be rich in the modern age.