Elon Musk has taken a huge step towards becoming the first trillionaire in the world.
This comes as the tech mogul’s net worth has reached a whopping $700 billion despite the fact that he lives in a ‘box home’.
Musk’s net worth has now surpassed the $700 billion mark, with Forbes revealing on their billionaires index that the world’s richest man now has an estimated $749 billion.
Despite his billions of dollars, the Tesla boss lives a surprisingly stripped back life, with his living situation being described as far from extravagant.
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When his ex-partner Grimes spoke to Vanity Fair, she claimed that Musk ‘lives at times below the poverty line’.
She continued: “To the point where I was like, ‘Can we not live in a very insecure $40,000 house? Where the neighbors, like, film us, and there’s no security, and I’m eating peanut butter for eight days in a row?’”
In recent years, Musk has been selling off his expensive property portfolio for years, sticking to his vow to get rid of his possessions to help fund his Mars colony dream.
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Now Musk claims to reside in a modest three-bedroom tiny home on Boca Chica/Starbase in Texas which he rents from SpaceX for less than $50,000.
Musk made a post about it on his own platform X, formerly Twitter, saying: “My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though.
“Only house I own is the events house in the Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen some day.”
The 20-by-20-foot prefab unit is made by Boxabl, a startup aiming to transform housing by creating foldable homes that are pre-made on a factory assembly line.
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It's designed like a studio apartment, with a large room divided into a living and sleeping area, a fully equipped kitchen, and a bathroom with a tub shower.
In other Musk news, the mogul has predicted that there will be an end of poverty, explaining why there is apparently ‘no need to save money’.
This came after Bridgewater Associates founder Ray Dalio announced that he and his wife plan to make a $250 contribution to the bank accounts of 300,000 children taking part in President Donald Trump’s savers accounts for young Americans.
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On X, Musk wrote:: “It is certainly a nice gesture of the Dells, but there will be no poverty in the future and so no need to save money. There will be universal high income.”