• Tesla CEO Elon Musk has sold one of his homes in the Bel-Air area of Los Angeles for $29 million, the Wall Street Journal reported on Friday, citing public records.
  • The buyer is a company tied to Chinese billionaire William Ding, the report said.
  • Visit Business Insider’s homepage for more stories.

(Reuters) – Tesla Inc Chief Executive Officer Elon Musk has sold one of his homes in the Bel-Air area of Los Angeles for $29 million, the Wall Street Journal reported on Friday, citing public records.

“I am selling almost all physical possessions. Will own no house,” Musk had said in a tweet on May 1.

—Elon Musk (@elonmusk) May 1, 2020

The buyer is a company tied to Chinese billionaire William Ding, the report said. He is the founder and chief executive officer of online gaming firm NetEase Inc .

Musk bought the house for $17 million in 2012 from Mitchell Julis, co-founder of hedge fund Canyon Capital Advisors, according to the report.

Musk still owns other properties in the area, the WSJ report said.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel)

Read the original article on Reuters. Copyright 2020.

Follow Reuters on Twitter.

Read More