Rumors about Musk buying a house in Beijing caused China's A-share real estate stock prices to rise. Musk China responded to the news as fake

On the evening of September 4, many intermediaries and channel people in the Beijing real estate circle announced on social platforms that Tesla CEO Elon Musk purchased the Sky Courtyard at No. 8 Xiaoyun Road in Beijing for US$150 million.
In this regard, a person from a real estate agency in Beijing claimed, “We learned from the developer that Musk bought the sky courtyard product at No. 8 Xiaoyun Road for US$150 million. The unit area is 900 square meters, with a loft of 600 square meters and a 200m2 terrace.

The sky courtyard at No. 8 Xiaoyun Road, Beijing

On the afternoon of September 5, the staff of the sales office at No. 8 Xiaoyun Road told the media that they had no right and could not disclose customer privacy; the developer also stated that it was not aware of the matter and that customer information and transaction status were kept confidential.
This caused the incident to become confusing, but then Tesla China quickly came forward to refute the rumors. Regarding the rumors of Musk buying a house in Beijing, Tesla China clearly stated that "fake news is speculation."

Rumors of "Musk buying a house in Beijing" caused China's A-share real estate stock prices to rise

As a world-renowned business giant, Musk’s every move attracts attention.
Public information shows that in May 2023, Musk visited the Beijing luxury project MAHA (Manhe). In September of the same year, Musk’s mother Mayer Musk also appeared at the project and met with the board of directors of Hopson Development Group Chairman and Co-Chairman of Manhe China Zhu Juerong attended the event together.
It is reported that No. 8 Xiaoyun Road was built by Hesheng Chuangzhan, a "Cantonese real estate company", and was later renamed Manhe Beijing. The unit types of this project range from 450 square meters to 900 square meters, with an average price of 167,000 yuan/square meter. They are mainly five-bedroom units and above, of which the sky courtyard area is about 1,000 square meters.
According to the aforementioned real estate agency personnel, the total price of a sky courtyard in Manhe Beijing is between 560 million yuan and 900 million yuan, and the capital verification threshold for purchasing this product is 100 million yuan.
Some analysts believe that the rumor that "Musk is buying a house in Beijing" may be a misunderstanding or a kind of hype.
The rumor that "Musk is buying a house in Beijing" has caused the stock price of China's A-share real estate to rise.

Musk once set up a persona of "no real estate"

On May 1, 2020, Musk tweeted, "I will sell all my physical assets, not even a house."

According to media reports, starting in June 2020, Musk has successively sold a number of luxury properties in the Bel Air area of ​​Los Angeles and other areas, with a total value of more than US$100 million.
For example, his first mansion for sale was in Bel Air, sold in June 2020 for a whopping $29 million. The 16,251-square-foot mansion featured a library, swimming pool, spa, home Cinema and other facilities.

In October of the same year, he sold another mansion in Bel Air that once belonged to actor Gene Wilder for $7 million, with the requirement to preserve its cultural heritage.

Musk then continued to sell his other luxury homes in California, one of which was sold for $20.9 million in December 2020.

In addition, he sold several smaller properties in the Bel Air neighborhood.
Musk once said that selling a house is for freedom: "This is for freedom... I don't need cash. I dedicate myself to Mars and Earth. The things you own will only crush you. Wealth makes people feel depressed. After selling the property, People will not attack me because I am a billionaire, and I will consider renting a house in the future.”

Although Musk once explained that the reason for selling the property is "committed to Mars and Earth, owning too many things will only become a burden."

Some analysts believe that the move may be due to cash flow considerations or to avoid high tax policies in the future. The influence of wealth.
According to Jiemian News, after Musk sold his mansion, he moved into an "ADU temporary rental house" of only 36 square meters in the SpaceX campus, and posted the matter on his social media.