Elon Musk Doesn’t Own a Home

The world’s richest man, Elon Musk claims to sleep at his friends' places.

With Tesla having most of it's engineering located in the Bay Area, the CEO claims to rotate his stay among his friends' spare bedrooms.

Musk has revealed to New York Post that he doesn't own a home.

The father of seven says the only personal luxury he owns is a private plane, where most of his expenses are accrued.

In May 2020, Musk famously tweeted, “I am selling almost all physical possessions. Will own no house.”

Musk has put up a bid to acquire Twitter at US$43 billion.

However, NY Times has stated that Twitter’s board has not rejected Musk’s offer. It has given a “poison pill”, as a defensive tactics a few days later.

The poison pill will prevent Musk from owning anything more than 15% of Twitter’s share. At this stage he owns more than 9% of Twitter.

Few days later, Musk revealed that he will put US$21 billion of his own cash, as well as a further US$12.5 billion in margin loans and another US$13 billion would come through debt financing from Morgan Stanley, a bank. This would increase his bid to US$46.5 billion.

According to the Wall Street Journal, Twitter is taking another look at the offer and is more likely to seek to negotiate. The situation is fast-moving and it is still far from guaranteed Twitter will do so.

Musk is worth US$264.6 billion.

[Source: NYPOST]