Skip to main content

Per Austonia = Where Elon Musk crashes while in the ATX; His Pay Pal friend's residential $12 million Lake Austin home -


REAL ESTATE

Elon Musk denies Wall Street Journal report that he lives on Lake Austin below Mt. Bonnell

Elon Musk's Austin residence is his billionaire friend's lakefront home, according to the Wall Street Journal. (Austonia)

Elon Musk’s Austin residence is a waterfront estate of a billionaire friend that was once the most expensive in the city, at least according to a Wall Street Journal report published Wednesday. News of the home, near Mount Bonnell, arrives after some time of Musk saying he lives in a "tiny home" in Boca Chica, Texas.

The richest man in the world has since denied those claims in an email to Business Insider, saying, "the WSJ article is false. I don't live there and am not looking to buy a house anywhere." The Journal has not issued a response.

The WSJ report states PayPal co-founder Ken Howery is the friend lending his home to Musk. Zillow estimates the home's market value is now at $17.9 million. Howery has also since said, "Elon does not live in my home, he lives in South Texas. He stayed at the house as my guest occasionally when traveling to Austin."


Per the WSJ report, the home interior spreads across 8,000 feet and includes a waterfront pool, jacuzzi and private boat slip. The development, known as “Watersedge,” has several sets of gates and a guardhouse. It would now likely sell for multiples of what it originally sold for.

While Musk has said he is not looking for a home, the WSJ says he’s toured some homes in the area. Among the homes he’s expressed interest in is a custom-built mansion owned by Kendra Scott. Musk’s home search has been described as tightly protected, and some anticipate it to remain a mystery for some time after he buys it.


Musk didn't expand on his current residency but this past summer, he said that his primary home is a $50,000 tiny home in Boca Chica that he described as “kinda awesome.” It’s located next to the SpaceX rocket launch facility.

A Tesla drives into the neighborhood believed to be where Elon Musk stays at in Austin. (Austonia)


Friend Howery co-founded the multi-national financial tech company PayPal, which Musk worked at as an executive early in his career. Howery also co-founded Founders Fund— a venture capital fund that has supported Musk’s companies— with investor Peter Thiel. The three men are part of the “PayPal Mafia,” a term for former executives who grew in success. In the latter half of the Trump administration, Howery was U.S. ambassador to Sweden. Since his term ended, Howery has spent his time traveling, further making many believe Musk would stay there in the meantime.

Musk told the Wall Street Journal earlier this month that he splits his time mostly evenly between Austin's new Tesla Gigafactory and SpaceX in South Texas. If he isn't staying with Howery while in Austin, his local residency remains a mystery.

Rumors that Musk secretly bought the most expensive Austin listing this year, a home that sold for about $39 million, have since been dispelled. It had gone to a California limited-liability corporation with connections to Musk, but the previous owner and their real estate agent have denied that.

This story was updated after publication to include Musk's and Howery's response.

Enjoying Austonia? Sign up for our newsletter to get daily Austin news, straight to your morning inbox!

FROM YOUR SITE ARTICLES

Comments

Post a Comment

Popular posts from this blog

Per Moneywise, Grant Cardone says, "I wouldn't touch the real estate markets of either Austin, Texas or Seattle Washington with a 10 foot pole."

‘I wouldn’t touch Austin, Texas or Seattle, Washington with anybody’s money’ : Grant Cardone says these two major US cities are some of 'the worst markets to be in right now' for real estate investors — here's why Story by Bethan Moorcraft • click here for the exact moneywise article  prolific real estate investor Grant Cardone has singled out two U.S. property markets he wouldn’t touch with a 10-foot pole: Austin and Seattle. Cardone shared this hot take — and many others — in an  interview with Moneywise  after he prompted an AI chatbot to answer the question: “What are the 10 best markets for investing in rental real estate in America?” The AI Smith response started with: “The best markets for investing in real estate in America can vary depending on factors such as population growth, job opportunities, rental demand, affordability and potential rental income.” Up until that point, Cardone — who performed the task live on camera — was pretty happy with the response. But
Post a Comment
Read more

Sad News. Tim Harrington of Austin, Texas passed away in mid-February 2024 from a heart attack. His Memorial Service is 2/29/2024 2 pm, @ Austin Ridge Bible Church in Westlake.

  George Vance..... Just making sure you know that Tim Harrington passed away last weekend. Heart attack.  Tim’s Memorial Service will be: 2/29/24 at 2 PM at Austin Ridge Bible Church at 9300 Bee Cave Rd, Austin, TX 78733 in Westlake. At the Worship Center building. Please spread the word. GVM speaking here, "Tim showed up on my 40th birthday at Pitch N Putt for an afternoon of golf and bullshit. Tim was in good spirits that afternoon after boasting of his mega million dollar commercial fresh sale in SoCo. St. Elmo @ the ol' Hills Cafe.   Tim was a former SOUTHWESTERN door to door salesman and alumnus like me. A fellow bookman. Tim showed up @ my BookPeople booksigning event, for the "The Nation We Live In."   Overall Tim was a good man and character . A worthy Austinite!  Tim Harrington was quick to make friends. Just in February, randomly Tim and I participated in 3 straight days of Champions Real Estate School (off Hwy 620 & US 183) for full day required clas
Post a Comment
Read more

Click here to watch GVM's Unicorn 1 minute Rant against the "concrete vision plan" for Zilker Park & Barton Springs Pool

Click here and skip to 1 hour 30 minutes to VIEW the Unicorn's GVM 1 minute testifying Downtown Austin City Hall council chambers Rant! Or below is a TIK TOK, my brother Willy McGee created for fun..                                                 
Post a Comment
Read more