News, Culture & Society

Elon Musk sells Bel-Air house to Chinese billionaire

Tesla Inc. and Space X CEO Elon Musk has sold one of his Bel-Air homes in Los Angeles for $29million to a Chinese tech billionaire after announcing that he’s selling his possessions in May.  

The Wall Street Journal reports that Musk, 48, has sold one the first of seven California homes that hit the market last month after he revealed in a bizarre Twitter rant that he was selling much of his material possessions.

‘I am selling almost all physical possessions. Will own no house,’ he wrote on May 1. 

‘Don’t need the cash. Devoting myself to Mars and Earth. Possession just weigh you down,’ he added.  

A mansion owned by Tesla Inc. CEO Elon Musk has sold for $29million after it hit the market in May with an original listing price of $30million

Pictured: Chinese billionaire businessman and founder of NetEase, Ding Lei

Pictured: Tesla Inc. and Space X CEO Elon Musk

Wall Street Journal reports that Chinese billionaire businessman Ding Lei, also known as William Ding (left), purchased Musk’s Bel-Air home. Ding is the founder and CEO of NetEase, a massive online and mobile gaming company that is considered one of the largest gaming firms in China

He initially listed two Bel-Air homes for sale before adding five more of his homes to the mix in Los Angeles 

The newly sold mansion was initially listed for $30million in early May and was unique in that it was ‘for sale by owner,’ meaning Musk didn’t use a realty agent to list the property. 

The property appeared soon after on home selling website Zillow,  

The buyer is William Ding, real name Ding Lei, Chinese billionaire businessman who is the founder and CEO of tech company NetEase. 

This image shows the four homes that Musk recently listed on Zillow for a combined $62.5million, including the mansion he sold to Ding Lei for $29million (right)

This image shows the four homes that Musk recently listed on Zillow for a combined $62.5million, including the mansion he sold to Ding Lei for $29million (right)

The 16,251sqft mansion (pictured) features six bedrooms, 11 bathrooms, a two-story library, swimming pool, and a tennis court

The 16,251sqft mansion (pictured) features six bedrooms, 11 bathrooms, a two-story library, swimming pool, and a tennis court

The mansion also features a home gym, wine cellar, fruit orchard, a five-car garage (pictured) and a exclusive tennis court (pictured)

The mansion also features a home gym, wine cellar, fruit orchard, a five-car garage (pictured) and a exclusive tennis court (pictured)

A gorgeous pool found on the home's back patio is lined with a number of lounging chairs to enjoy the California sun and appears to have a fountain feature installed

A gorgeous pool found on the home’s back patio is lined with a number of lounging chairs to enjoy the California sun and appears to have a fountain feature installed  

The pool area is accompanied by an outdoor lounging station that is complete with two cozy, beige colored couches and a fire pit in the middle

The pool area is accompanied by an outdoor lounging station that is complete with two cozy, beige colored couches and a fire pit in the middle 

In a series of tweets on May 1, the Tesla founder, who according to Forbes is worth more than $38billion, announced that he intends to sell 'almost all physical possessions'

In a series of tweets on May 1, the Tesla founder, who according to Forbes is worth more than $38billion, announced that he intends to sell ‘almost all physical possessions’

NetEase, headquartered in Guangzhou, China, is a Chinese internet technology company that develops online and mobile games, e-commerce platforms, advertising and email services in China.

A North American headquarters in Brisbane, California, launched in 2014. 

Ding (pictured) has a net worth of $23.5billion and in 2003 was Chin'a richest man, as well as the country's first Internet and gambling billionaire

Ding (pictured) has a net worth of $23.5billion and in 2003 was Chin’a richest man, as well as the country’s first Internet and gambling billionaire

NetEase has secured its spot as one China’s largest gaming companies and has been listed on the Nasdaq in the United States since 2000. 

On June 11, the company priced its secondary listing in Hong King at $123 Hong Kong dollars per share, CNBC reports. 

The company issued 171,480,000 new ordinary shares as part of its offering, which mean it will raise $21.09billion Hong King dollars, or $2.72billion US dollars.

Ding has a net worth of $23.5billion and under his direction encouraged the company to pursue more media ventures. 

Forbes reports that Ding in 2003 was Chin’a richest man, as well as the country’s first Internet and gambling billionaire.    

It’s unclear why Ding has purchased a home in California, but it may be in part because of headquarters in California. 

Musk originally bought the Bel-Air manion for $17million in 2012 from Mitchell Julis, the co-founder of hedge fund management company Canyon Capital Advisors. 

The home is located in lower Bel-Air and overlooks the Bel-Air Country Club. 

One of the mansion's features is a tennis court (pictured) that is perfect for at-home exercises ans also includes a basketball hoop  for pickup games with friends

One of the mansion’s features is a tennis court (pictured) that is perfect for at-home exercises ans also includes a basketball hoop  for pickup games with friends 

The area surrounding the Bel-Air estate is decorated with a walkway from the home that leads to a beautiful shrubbery and sits near a magnificently manicured lawn

The area surrounding the Bel-Air estate is decorated with a walkway from the home that leads to a beautiful shrubbery and sits near a magnificently manicured lawn

The new homeowner of Musk's Bel-Air home can walk through a pair of white French doors onto a balcony that overlooks that estate's illustrious landscape near the Bel-Air Country Club

The new homeowner of Musk’s Bel-Air home can walk through a pair of white French doors onto a balcony that overlooks that estate’s illustrious landscape near the Bel-Air Country Club

A further look into the estate's back patio area revealed a quaint sitting area next to the massive pool and underneath a swath of gorgeous trees

A further look into the estate’s back patio area revealed a quaint sitting area next to the massive pool and underneath a swath of gorgeous trees

The 16,251sqft mansion features six bedrooms, 11 bathrooms, a two-story library, swimming pool, and a tennis court.

It also features a gym, pool, a wine cellar, fruit orchard and a five-car garage.  

A second Bel-Air home sold by Musk is still listed at  $9.5million and used to be owned by late Willy Wonka actor, Gene Wilder, who died in 2016.

It features five bedrooms, 4.5 bathrooms, an oval pool and a private guest cottage.

In November 2013, Musk purchased the three-quarter-acre Bel-Air home for $6.75million. Musk has since turned the property into a private school.

In one of his bizarre tweets, Musk said he would sell the home with certain conditions.

‘Just one stipulation on sale: I own Gene Wilder’s old house. It cannot be torn down or lose any its soul,’ Musk said.

The second home has been listed for $9.5million (pictured) and used to be owned by late Willy Wonka actor Gene Wilder, who died in 2016

The second home has been listed for $9.5million (pictured) and used to be owned by late Willy Wonka actor Gene Wilder, who died in 2016

The home features five bedrooms, 4.5 bathrooms, a private guest cottage and an oval pool (pictured) that homeowners can use on the many sunny days in California

The home features five bedrooms, 4.5 bathrooms, a private guest cottage and an oval pool (pictured) that homeowners can use on the many sunny days in California 

In November 2013, Musk purchased the three-quarter-acre Bel-Air home for $6.75million. Musk has since turned the property into a private school

In November 2013, Musk purchased the three-quarter-acre Bel-Air home for $6.75million. Musk has since turned the property into a private school

The home is one of six that Musk bought within walking distance of each other. Musk also purchased a seventh home near Tesla headquarters in Northern California. 

In total, he has spent more than $100million for seven properties since 2012, according to The Wall Street Journal.

Musk bought two homes in in 2015: a modest ranch house for $4.3million and $20million mansion.

A year later, Musk purchased a large, unfinished home for $24.25million. All three homes sit on the cul-de-sac of five homes.

Elon Musk has listed five more California properties for a combined $97.5million nearly two weeks after he put two Bel-Air homes on the market for $39.5million after vowing to sell off his material possessions. This home sits on Chalon Road in Los Angeles

Elon Musk has listed five more California properties for a combined $97.5million nearly two weeks after he put two Bel-Air homes on the market for $39.5million after vowing to sell off his material possessions. This home sits on Chalon Road in Los Angeles 

On Wednesday, Musk listed five more homes for sale. Four of the Los Angeles homes were listed on Zillow as a multi-property listing with an asking price of $62.5million. This home sits on Somera Road in Los Angeles

On Wednesday, Musk listed five more homes for sale. Four of the Los Angeles homes were listed on Zillow as a multi-property listing with an asking price of $62.5million. This home sits on Somera Road in Los Angeles 

Nearly two weeks after listing the two Bel-Air homes, Musk revealed that he listed five more of his California properties for sale at a combined price of $97.5million. 

Four of the Los Angeles homes were listed on Zillow as a multi-property listing with an asking price of $62.5million.

The homes are described on Zillow as being ‘a project for the big thinker, designed to showcase one of the best views in Los Angeles – from the city to the ocean and beyond.’ 

The homes are described on Zillow as being 'a project for the big thinker, designed to showcase one of the best views in Los Angeles - from the city to the ocean and beyond'. This home is also located on Somera Road in Los Angeles

The homes are described on Zillow as being ‘a project for the big thinker, designed to showcase one of the best views in Los Angeles – from the city to the ocean and beyond’. This home is also located on Somera Road in Los Angeles 

Zillow also noted that 'due to listing limitations, additional specs on each individual home, as well as insight on the project as a whole, will be made available upon request by qualified buyers'. This home was purchased by Musk last year. Musk paid $6.4million for this residence which is located on Somera Road

Zillow also noted that ‘due to listing limitations, additional specs on each individual home, as well as insight on the project as a whole, will be made available upon request by qualified buyers’. This home was purchased by Musk last year. Musk paid $6.4million for this residence which is located on Somera Road 

The fifth home, which is located in Hillsborough, California, has been listed for $35million. Musk purchased the Hillsborough home in June 2017 for $23.3million. The 16,000sqft mansion sits on 47.4 acres of land and features 10 bedrooms and 10 baths

The fifth home, which is located in Hillsborough, California, has been listed for $35million. Musk purchased the Hillsborough home in June 2017 for $23.3million. The 16,000sqft mansion sits on 47.4 acres of land and features 10 bedrooms and 10 baths

Zillow also noted that ‘due to listing limitations, additional specs on each individual home, as well as insight on the project as a whole, will be made available upon request by qualified buyers’.

The fifth home, which is located in Hillsborough, California, has been listed for $35million.

Musk purchased the Hillsborough home in June 2017 for $23.3million. The 16,000sqft mansion sits on 47.4 acres of land and features 10 bedrooms and 10 baths.

The mansion has a pool, ballroom, banquet dining room and an 8-car carport.          

The remaining six properties are still listed for sale.  

Read more at DailyMail.co.uk



Find local lawyers and law firms at USAttorneys.com