Elon Musk the 2nd-richest man in the world resides in rented home that costs $50,000

Tesla CEO Elon Musk the world's second-richest man, with a net worth of about $185 billion said in a tweet in June that he rented a home in Boca Chica, Texas, that costs $50,000.

On Thursday, Musk provided some more context about his housing situation. In response to a tweet showcasing a prefabricated home by the housing startup Boxabl, Musk wrote, "I do live in a $50k house, but not this specific one."

Boxabl, based in Las Vegas, aims to mass-produce low-cost housing. It creates homes that are delivered in a box and can be set up in a day.

Musk appears to be keeping a promise he made in a tweet in May 2020 to "own no house." Weeks later, five of his homes were listed for sale on Zillow. In late December, the Los Angeles Times reported that Musk had sold three of his adjacent mansions in Bel Air for a combined $40.9 million.

The SpaceX CEO said in June that he had only one house left in the San Francisco Bay Area that he rented out for events and was waiting to sell. It "needs to go to a large family who will live there," he said, because "it's a special place."

Boxabl and a representative for Musk did not immediately reply to Insider's requests for comments for this story.