Elon Musk, the world’s richest man with a net worth exceeding $400 billion, is no stranger to making headlines with his unconventional choices. From living in a $50,000 prefabricated home in Texas to spearheading humanity’s quest for Mars, Musk’s decisions often defy expectations. In late 2024, rumors swirled that the Tesla and SpaceX CEO was eyeing a luxurious $50 million penthouse in Palm Beach, Florida, near Donald Trump’s Mar-a-Lago estate. What unfolded during the negotiations, however, left the real estate world buzzing. According to sources, when a sales representative jokingly asked Musk, “Do you have enough money?” his response was so unexpected that it stunned everyone in the room. This article delves into the details of this intriguing episode, Musk’s real estate philosophy, and the broader implications of his actions.
The Penthouse in Question
The property at the center of the story is a 19,000-square-foot penthouse in The Bristol, a prestigious residential building on the shores of West Palm Beach, Florida. Previously owned by the late beauty mogul Sydell Miller, who purchased it for $42.56 million in 2019, the penthouse is a masterpiece of luxury. Featuring two combined apartments, the residence boasts panoramic views, high-end finishes, and an art collection that once included works by Pablo Picasso and Joan Miró. Its proximity to Mar-a-Lago, just a seven-minute drive away, made it an attractive prospect for Musk, who has been spending increasing time with President-elect Donald Trump since the 2024 election.
In December 2024, Page Six reported that Musk had offered $50 million for the penthouse, a figure that would shatter West Palm Beach real estate records if accepted. The rumor, initially reported by local outlet Palmer Palm Beach, suggested that Miller’s family was considering Musk’s offer. The lavish property, described as “fit for a king,” seemed like a departure from Musk’s well-documented minimalist lifestyle, sparking curiosity about his intentions.
The Negotiation That Shocked the Room
While the details of the negotiation remain partly speculative, sources close to the deal, cited in posts on X and media reports, paint a vivid picture of the encounter. During a meeting with the real estate team, a sales representative, possibly unaware of Musk’s staggering wealth or simply attempting to inject humor, asked, “Do you have enough money?” The question, meant as a lighthearted jab, was met with a response that left the room in stunned silence.
According to an X post from a user claiming insider knowledge, Musk didn’t flaunt his wealth or dismiss the question. Instead, he reportedly leaned forward, smiled, and said, “I’m not buying it. I’m not building or buying any house anywhere.” This bombshell statement, later corroborated by Musk himself in a December 2024 post on X, where he wrote, “I’m not buying or building a house anywhere,” flipped the narrative. Rather than confirming his interest in the penthouse, Musk used the moment to reaffirm his commitment to minimalism, leaving the real estate team scrambling to process his rejection of the deal.
The exchange was a classic Musk move—defying expectations and turning a routine transaction into a statement about his values. Some speculate that Musk’s visit to The Bristol was not about purchasing the penthouse but rather about assessing its potential for a different purpose, such as a base for his political or business activities in Florida. Others believe he was simply curious, testing the waters without serious intent.
Musk’s Minimalist Real Estate Journey
Musk’s rejection of the penthouse aligns with his well-documented pivot away from lavish properties. In 2020, he announced on X, “I am selling almost all physical possessions. Will own no house.” True to his word, Musk sold off his extensive California real estate portfolio, which once included a $29 million Bel-Air mansion, a $17 million colonial estate, and the former home of actor Gene Wilder, purchased to preserve its “soul.” By 2021, he had relocated to Texas, where he rents a $50,000 prefabricated Boxabl Casita in Boca Chica, near SpaceX’s Starbase facility. This 375-square-foot home, made of concrete panels and steel, is a far cry from the opulent estates typically associated with billionaires.
Musk’s choice to live modestly has been both praised and scrutinized. In a 2022 podcast, he explained that the Casita, which he rents from SpaceX, serves as a practical base for his work-focused lifestyle. He also owns a three-bedroom home in Austin, Texas, valued slightly higher, which he has modified to accommodate his large family. In October 2024, The New York Times reported that Musk purchased a $35 million compound in Austin, including a 14,400-square-foot Tuscan villa and adjacent properties, to create a family hub for his 14 children and their mothers. Despite these purchases, Musk’s primary residence remains the modest Boca Chica Casita, reflecting his philosophy of prioritizing function over luxury.
The rumored penthouse purchase seemed at odds with this ethos, leading to speculation about Musk’s motives. Some suggested he was considering the property as an investment or a strategic location for his growing political influence, given his proximity to Trump and his role as co-chair of the Department of Government Efficiency (DOGE). Others posited that the penthouse could serve as a temporary base for high-profile meetings, given its amenities and location. However, Musk’s swift denial quashed these theories, reinforcing his commitment to a minimalist lifestyle.
The Context of Musk’s Wealth and Influence
The sales representative’s question, “Do you have enough money?” seems almost comical in hindsight, given Musk’s financial status. As of July 2025, Forbes estimates his net worth at $421 billion, driven by his stakes in Tesla (12%), SpaceX (42%), and xAI (54%). His wealth surged by $91 billion in December 2024 alone, fueled by SpaceX’s $350 billion valuation. Musk’s financial power is unmatched, yet his lifestyle choices challenge societal expectations of billionaire extravagance.
Musk’s influence extends beyond business. His political activities, including spending nearly $250 million to support Trump’s 2024 campaign, have made him a polarizing figure. His frequent appearances at Mar-a-Lago and his appointment to DOGE have fueled speculation about his long-term plans, including the rumored penthouse purchase. However, Musk’s denial suggests he is more focused on his missions—advancing sustainable energy, colonizing Mars, and developing AI—than on accumulating luxury assets.
Reactions and Implications
The real estate community and Musk’s followers were left reeling by his response. On X, users praised his commitment to minimalism, with one writing, “Elon just schooled them on what wealth really means. It’s not about penthouses; it’s about purpose.” Others speculated that the interaction was a publicity stunt to highlight Musk’s unconventional approach. Real estate agents in Palm Beach, accustomed to dealing with wealthy clients, were reportedly caught off guard, with one anonymous source telling Palmer Palm Beach, “We thought it was a done deal. Who says no to a $50 million penthouse?”
The incident has broader implications for how wealth is perceived in the modern era. Musk’s rejection of the penthouse challenges the notion that billionaires must flaunt their wealth through lavish properties. His focus on living modestly while pursuing ambitious goals—like colonizing Mars or revolutionizing AI—suggests a redefinition of success. As he noted in a 2021 interview, “It’s going to take a lot of resources to build a city on Mars. I want to contribute as much as possible.” This mindset, coupled with his rejection of the penthouse, underscores his belief that true wealth lies in impact, not possessions.
For the real estate market, Musk’s decision may signal a shift. The Bristol penthouse, still on the market as of July 2025, may struggle to find a buyer willing to match Musk’s rumored $50 million offer. The episode also highlights the growing interest in minimalist and sustainable housing, as evidenced by the popularity of Boxabl’s Casita, which has a waitlist of over 100,000 customers. Musk’s endorsement of such solutions could accelerate their adoption, influencing housing trends worldwide.
What’s Next for Musk?
While the penthouse saga has concluded—for now—Musk’s real estate choices will continue to spark curiosity. His Austin compound, designed to bring his family closer together, suggests a balance between his minimalist ideals and his responsibilities as a father of 14. Meanwhile, his Boca Chica Casita remains a symbol of his commitment to living lean while pushing the boundaries of human innovation.
The stunned reaction in that Palm Beach meeting room will likely be remembered as a quintessential Musk moment—bold, unexpected, and thought-provoking. By walking away from a $50 million penthouse, Musk not only silenced doubts about his wealth but also reaffirmed his vision: to prioritize purpose over luxury, and to live a life aligned with his mission to shape the future.
