Elon Musk sells California mansion for $29m to fellow tech billionaire

Tesla Inc. and Space X CEO Elon Musk has sold one of his Bel-Air homes in Los Angeles for $29million to a Chinese tech billionaire after announcing that he’s selling his possessions in May. The Wall Street Journal reports that Musk, 48, has sold one the first of seven California homes that hit the market last month after he revealed in a bizarre Twitter rant that he was selling much of his material possessions. ‘I am selling almost all physical possessions. Will own no house,’ he wrote on May 1. ‘Don’t need the cash. Devoting myself to Mars and Earth. Possession just weigh you down,’ he added. He initially listed two Bel-Air homes for sale before adding five more of his homes to the mix in Los Angeles

The newly sold mansion was initially listed for $30million in early May and was unique in that it was ‘for sale by owner,’ meaning Musk didn’t use a realty agent to list the property. The property appeared soon after on home selling website Zillow, The buyer is William Ding, real name Ding Lei, Chinese billionaire businessman who is the founder and CEO of tech company NetEase.

NetEase, headquartered in Guangzhou, China, is a Chinese internet technology company that develops online and mobile games, e-commerce platforms, advertising and email services in China.