Elon Musk sells four Bel Air properties for $US62m

Billionaire Elon Musk has pocketed nearly $US62 million (more than $A80 million) from the sale of four properties in Los Angeles, according to media reports, as he continues to offload his real estate portfolio.

Musk, who recently overtook Amazon founder Jeff Bezos to become the world’s richest person, appears to be holding good on his promise to sell almost all of his physical possessions – with the Tesla and SpaceX chief tweeting last May that he “will own no house”.

He has since sold the six properties he owned in Bel Air, the largest of which was a seven-bedroom mansion sold for $US29 million ($37.5 million) back in June. The property sold for $12 million more than what Musk paid for it eight years earlier, and was snapped up by “William” Ding Lei, a tech entrepreneur reportedly worth more than $25 billion.

In October, he offloaded a second Bel Air property — the former home of Gene Wilder — to Wilder’s nephew in a $US7 million off-market deal, Dirt reports.

Musk has now sold the four remaining properties for $US61.9 million ($A80.4 million) to local developer Ardie Tavangarian, according to Variety. While he first announced the purchase to Bloomberg in July, the sale only closed in late December.

The four properties were purchased by Musk in four separate transactions between mid-2015 and early 2019, for a total of $55 million. He is also reported to have spent a significant sum on the largest home to finish construction work on the property.

The four properties included a contemporary mansion, and the neoclassical colonial house next door. Plus a traditional bungalow across the street, and a sprawling mansion on the hillside below.

Musk, who has relocated to Texas, still owns a 47-acre estate in Silicon Valley which he purchased for more than $US23 million in 2017.