Elon Musk just declared that he's selling almost all his physical belongings and 'will own no house' and that he thinks Tesla's stock price is 'too high'

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elon musk
Tesla CEO Elon Musk.

AP Photo/Jae C. Hong

  • Elon Musk announced in a tweet on Friday that he would sell "almost all" his physical belongings.

  • The billionaire Tesla CEO also tweeted that he "will own no house." He owns at least seven houses worth over $100 million in total.

  • Musk continued to rail against government shutdowns amid the COVID-19 pandemic and added that he thought Tesla's stock price was "too high," which appeared to trigger a sell-off on Friday morning.

  • Visit Business Insider's homepage for more stories.

Elon Musk, the billionaire and prolific Twitter user, is rethinking his attachment to the material world — and said in a tweet on Friday that a first step would be "selling almost all physical possessions."

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He also said he thought Tesla's stock price was "too high" — a tweet that was followed by a sharp drop in the share price of the electric-car manufacturer. Tesla's stock was down 9.3% late Friday morning.

Musk also said he "will own no house." He followed up with a tweet that his girlfriend, the songwriter and producer Grimes, was mad at him.

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Musk owns at least seven lavish houses worth over $100 million in total. He and Grimes are expecting a baby due Monday, he said in another tweet.

His remarks came amid a broader tweetstorm on Friday morning. Musk, who's known for his eccentric online presence, also continued his weeks-long rant against government-enforced shutdowns in response to COVID-19 outbreaks.

Tesla's factory in Fremont, California, has been forced to shut down because of a shelter-in-place order in the San Francisco Bay Area.

He railed against the shutdowns and orders in a shareholder call earlier this week, calling them "fascist" in a rant that was abruptly cut off when the call was disconnected.

It wasn't clear why Musk would want to sell almost all his belongings or where he would live once he owns no house. A Tesla representative did not immediately respond to a request for comment.

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Musk has previously run afoul of the Securities and Exchange Commission for tweeting about Tesla shares. He settled a lawsuit last year after tweeting in 2018 that he was considering taking Tesla private at $420 per share. As part of the settlement, Musk agreed to have tweets that could move Tesla's stock price reviewed.

An SEC representative did not immediately respond to a request for comment.

Business Insider

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