![]() Musk's schedule often took him to the Bay Area, where much of Tesla's engineering was concentrated, and in such instances, he would rotate through the spare bedrooms of his friends' houses for lodging. He disclosed that he didn't own a home, opting to stay with friends instead. He was quick to clarify that his own circumstances were far from extravagant. When confronted with the notion that some critics find such extravagance offensive, Musk acknowledged the potential problem it could pose, saying, "For sure, it would be very problematic if I was consuming billions of dollars a year in personal consumption." Musk’s Circumstances He declared his intention to sell nearly all physical possessions, asserting, "Will own no house."ĭuring an interview with TED head Chris Anderson in 2022, Musk delved further into his unconventional living situation, shedding light on his perspective regarding the criticisms aimed at billionaires and their opulent lifestyles. In May 2020, Musk set the internet abuzz with one of his tweets. He is still embroiled in a dispute with the Securities and Exchange Commission regarding his tweets about financial data and previously faced a defamation lawsuit from a British cave explorer. Musk's prominence as a major CEO adds significance to this case, especially considering his history of legal entanglements. To stay updated with top startup news & investments, sign up for Benzinga's Startup Investing & Equity Crowdfunding Newsletter High-profile tech executives occasionally receive perks, such as private jets, but Tesla's approach is notably stringent, requiring a board committee audit for expenses exceeding $120,000 involving people with material interests. Story continues Stringent Board Requirementsįor followers of the billionaire entrepreneur, news of the glass house might come as a surprise, given Musk's previous statements about not having a desire to own a home. The board's primary objective was to establish Musk's level of involvement in the project and ascertain whether company resources, including employee time, were being used for the construction of the glass house. The company had disbanded its public relations (PR) department, and Musk has refrained from commenting on the reports. As of now, the status and findings of the inquiry remain undisclosed. įollowing the substantial glass order, employees' concerns were raised, prompting an internal probe to determine whether any misuse of company resources had taken place. Thanks to changes in federal law, this Kevin O’Leary-Backed Startup Lets You Become a Venture Capitalist With $100īillionaires are making their money in the private markets, and This Startup Is Revolutionizing Healthcare Investment so anyone can get involved. Until 2016 it was illegal for retail investors to invest in high-growth startups. ![]() One proposed plan envisions a hexagonal shape with waterfront views, while another resembles the boxy design of Apple's store on Fifth Avenue in New York. ![]() Though various design concepts are reportedly under consideration, the transparent structure will be situated just outside of Austin, Texas, with a view of Tesla's headquarters in the distance. Limited liability firms associated with Musk and Tesla executives have also acquired substantial amounts of land in the vicinity. The project is said to involve the purchase of millions of dollars worth of special glass, which raised eyebrows among employees. The Wall Street Journal sources claim that Tesla's board launched an investigation into concerns that Musk might be using company funds to build his glass house. Dubbed Project 42 by Tesla employees, this initiative has been shrouded in mystery over the past year. CEO Elon Musk appears to be involved in a secretive project constructing an all-glass home near the company's Austin-area Gigafactory, as reported by The Wall Street Journal.
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