Soon to a be trillionaire, what does world’s richest man Elon Musk spend his money on?
Elon Musk is set to become the world’s first trillionaire after Tesla shareholders approved the historic $1 trillion pay package. While full rollout is planned within 10 years based on performance milestones, it seems quite likely that the tech mogul’s net worth will reach that figure since his fortune is so tied to his car company shares.
Shockingly, Elon Musk’s former partner claimed that the billionaire lives a “below the poverty line” lifestyle. Amidst all this, we take a look at what the world’s richest man spends his billions on: from lavish mansions to eccentric car choices to controversial philanthropic choices.
What does the richest person in the world, Elon Musk, spend?
Elon Musk, who runs Tesla, SpaceX, and Neuralink, among other companies, became the first person in history to reach the $500 billion personal wealth milestone in October 2025.
When it comes to his home, Elon Musk said in a post on X (later on Twitter) in 2021 that he lived in a prefabricated house worth $ 50,000 in Texas; and his former partner and singer Grimes told Vanity Fair in an interview that his lifestyle was “below the poverty line.”
Despite having a hole in his side, he told the magazine, “Brother doesn’t live like a billionaire. My brother sometimes lives below the poverty line. He once refused to buy a new mattress.”
Cars and planes: What’s in Elon Musk’s collection
According to a report by BBC, Elon Musk has owned some notable cars over the years, including the 20th-century Ford Model T vehicle. The automobile’s revolutionary production line is credited with making cars affordable for buyers.
He added that this wasn’t the only “unusual” car, as he also owns a 1976 Lotus Esprit that could transform into a submarine from the 1977 James Bond movie The Spy Who Loved Me.
The report stated that his collection also includes a 1967 Jaguar E-Type Roadster, a 1997 McLaren F1 and a Tesla Roadster that he launched into space in 2018.
Elon Musk has also spent millions on personal planes and said in a TED interview in 2022 that he needs a private plane to get more work done. The BBC report said he owns multiple Gulfstream models (each worth tens of millions of dollars).
Housing situation: Mansions, prefabricated houses and homeless people?
The report also stated that Elon Musk’s real estate assets were not always this modest, although he currently has a house in his name in Texas.
In 2019, the Wall Street Journal reported that he made a whopping $100 million over seven years by purchasing seven homes close together in the prestigious Los Angeles Bel-Air neighborhood, California (including a farmhouse once owned by Willy Wonka actor Gene Wilder).
As of June 2025, Elon Musk owns Wilder’s three-bedroom home in Bel Air, as well as his main residence in Texas. According to the BBC report, he tried to sell it on loan to the actor’s nephew, Jordan Walker-Pearlman, but took possession back after repayments failed.
Later in 2022, he said that he did not have a home and was staying at friends’ houses; This was also shared by former Google CEO Larry Page, who told the media in 2015 that Elon Musk was “kind of homeless” and asked friends if he could come over to sleep at night.
Charity under fire: ‘Indiscriminate, self-serving…’
Elon Musk’s approach to philanthropy has received a lot of criticism. According to a 2024 report by the New York Times, the Musk Foundation’s tax returns showed that it failed to donate the required amount for three years. The organization’s website states that it supports “advancing human progress through groundbreaking scientific research, technological innovations, and ambitious efforts that push the boundaries of what is possible.”
And while US regulatory filings show the billionaire has donated billions of dollars in shares to charities, the NYT report added that most of those went to entities linked to Elon Musk, according to the foundation’s tax reports. The NYT said his donations were “indiscriminate and largely self-serving, making him eligible for massive tax breaks and helping his businesses.”
BBC said that it contacted Elon Musk and the Musk Foundation regarding the issue.
