Elon Musk has sold one of his homes in Los Angeles for $29 million, according to the Wall Street Journal.
The grandiose five-bedroom mansion, which overlooks the Bel-Air Country Club, was reportedly sold to a firm linked to Chinese tech billionaire ‘William’ Ding Lei for just under the $30-million asking price.
Ding Lei is the chief executive of Netease, a sprawling online and mobile games corporation that is second in China only to Tencent. Lei’s net worth was pegged at $17.2 billion in 2019, making him the eighth-richest person in China.
According to public listings, Elon Musk bought the house for $17 million in 2012 from Mitchell Julis, co-founder of Los Angeles hedge fund Canyon Capital Advisors.
It was “built in 1990 and extensively remodelled with large entertaining spaces, high ceilings and fine finishes,” reads a listing on Zillow. “Large master suite with separate dual baths and closets, family wing, 2-story library, theatre, 2-room guest suite, lighted championship tennis court, wine cellar, gym, pool, vast grassy yard and fruit orchard. Motor court with 5-car garage.”
The Tesla and SpaceX co-founder reportedly owns at least seven houses worth $100 million combined, including six mansions in Bel Air (among them one formerly owned by the late Willy Wonka actor Gene Wilder). He has put up most of his portfolio for sale as part of a quest to “own no house” and sell “almost all physical possessions”.