Despite having an estimated net worth of $264 billion, per Forbes, the Tesla owner says he crashes at friends' houses most of the time.
In a video interview published on Monday, Musk told TED organizer Chris Anderson: "I don't even own a place right now, I'm literally staying at friends' places."
"If I travel to the Bay Area, which is where most of Tesla's engineering is, I basically rotate through friends' spare bedrooms," he added.
Check out the full interview below:
The comment came in response to a question about Musk's ludicrous personal wealth. The billionaire defended his comparatively low tax bills, saying: "For sure, it would be very problematic if I was spending billions of dollars a year in personal consumption, but that is not the case."
He went on to say that he doesn't take vacations or indulge in many personal luxuries beyond his private jet: "It's not as though my personal consumption is high. I mean, the one exception is the plane, but if I don't use the plane then I have less hours to work."
That said, he did concede that his colossal personal wealth - which secures his spot as the world's richest man - is "bonkers".
This isn't the first time that Musk has implied he lives a thrifty lifestyle. In May 2020, he tweeted: "I am selling almost all physical possessions. Will own no house."
Meanwhile, his on-again-off-again girlfriend Grimes told Vanity Fair earlier this year that he sometimes lives "below the poverty line" and refused to buy a new mattress when her side had a hole in it.
With all these frugal habits, it's no wonder Musk has the funds to attempt to buy Twitter for an eye-watering $43 billion.
The pre-recorded interview with Anderson came before Musk spoke live at a TED conference about his ongoing battle to purchase the social media giant. He disclosed that he wasn't too worried about Twitter rejecting his enormous bid because he has a backup plan, adding: "I have sufficient assets."
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