Elon Musk’s relocation to Texas was announced last year, yet the exact location of his residence in the Lone Star State remains undisclosed. Recent reports from The Wall Street Journal suggested that Musk might be staying at a $12 million mansion in Austin, Texas, belonging to his longtime friend Ken Howery, a billionaire PayPal cofounder and former US ambassador to Sweden.
Musk’s Response
However, Musk refuted The Journal’s claims, asserting in an email to Insider that the article was false. He clarified that he neither resides in the mentioned property nor intends to purchase a house anywhere.
Howery also dismissed the report, stating that Musk occasionally stayed at his Austin home as a guest while Howery was away, emphasizing that Musk resides in South Texas.
Details of Howery’s Property
Howery’s mansion, spanning 8,000 square feet, boasts luxurious amenities such as a pool, Jacuzzi, private boat slip, and gated entrance. Situated in an exclusive district near Mount Bonnell, the property offers breathtaking views of the city and Hill Country.
Musk’s House Hunt
Despite the denial, sources revealed that Musk and his team have been actively searching for a suitable residence, engaging multiple real estate agents. Musk showed interest in the home of renowned Texas jewelry designer Kendra Scott but failed to finalize a deal after missing scheduled viewings.
Musk’s Relocation and Company Expansion
Musk’s decision to relocate his companies, including Tesla, to Texas aligns with his dissatisfaction with California’s COVID-19 policies. He declared his intention to divest from most physical possessions, including his California properties, in June 2020. Despite being named Time magazine’s Person of the Year, Musk stated that he does not own a house.
Growing Texas Presence of Musk’s Companies
Tesla, SpaceX, and Musk’s Boring Company have significantly expanded their presence in Texas, particularly in Austin. Tesla Energy Ventures’ application to sell electricity in the state reflects Musk’s broader involvement in Texas’s burgeoning tech sector.
As Musk continues to shape the landscape of both the tech industry and residential real estate, his relocation to Texas underscores the state’s growing significance in the world of innovation and entrepreneurship.
