Elon Musk has sold all of his assets and is now living in a tiny $50,000 shack.

Elon Musk, one of the richest men on the planet, has chosen to live in a $50,000 (£35,900) box home in Starbase, Texas. In the video below, you can see the company’s introduction to the house:

It’s on the grounds of Elon Musk’s private space exploration business, SpaceX, and it arrived on the back of a truck.

Musk has stated that the prefabricated dwelling unit will be his primary residence, despite the fact that it is only 400 square feet.

Musk responded to someone who had made a remark about his humble living on Twitter.

They’d posted on Twitter:

Elon responded by writing: “My primary residence is a $50k house I rent from SpaceX in Boca Chica / Starbase.

“However, it’s very cool.

“The events house in the Bay Area is the only residence I own. If I sold it, it would be less used until it was purchased by a large family, which could happen sometime.”

The small house is the Casita model of a firm named Boxabl, which makes foldable properties.

The 20×20 units may be purchased for $49,500 (£35,530) or as little as $250 (£180) each month on the company’s website and might be a solution to the country’s housing shortage. In less than a day, the homes can be built.

Galiano Tirmani, the company’s creator, said in a recent interview: “The primary goal of Boxabl is to address the affordable housing dilemma.

“Affordable housing is nearly gone, and the number of rent-burdened households (those who pay 50% or more of their monthly income on rent) is at an all-time high.

“As families suffer employment uncertainty and local funds are depleted by the outbreak’s urgency, what was already an issue before the pandemic has transformed into a full-fledged crisis.

“A sufficient solution to the housing dilemma is one that provides more people with cheap homes without incurring the costs of expanding city infrastructure or the environmental costs of urban development.

“We think our Boxabl units are in a good position to do it.”