With a wealth of $239 billion, Elon Musk is the richest person in the world. Despite his large wealth, Musk has previously spoken out about material possessions and sold several houses he owned.
A new report and internal probe showed a glass house may have been under construction for Musk in Texas.
In 2021, Musk-led Tesla Inc (NASDAQ: TSLA) made headlines when the company announced it was moving its headquarters to Texas. Musk later announced a similar move for himself.
After selling houses he owned, Musk publicly said he lives in a $50,000 tiny home in Texas and referenced couch-surfing at friends’ houses due to being without a large home.
An internal probe by Tesla is looking into the secretive “Project 42” project, which was to develop a large glass building. As reported by The Wall Street Journal, “Project 42” is rumored to be a house for Musk, located in Texas, near the Tesla headquarters.
“Project 42” had plans that called for a twisted hexagon-shaped building located on the waterfront with Tesla’s Gigafactory in the background. The document with plans for the house was reviewed by the WSJ.
The report said the design plans for the glass building include bedrooms, bathrooms and a kitchen, according to sources.
Another source said a waterfall was part of the landscaping in design pictures along with a pickup truck that resembled the upcoming Cybertruck.
Employees at Tesla have been working on the project since last year, according to the report.
Tesla board members have been prying into the project to see if the secretive building has been misusing company funds. A large purchase for specialized glass, which came with a cost of millions of dollars, is said to have sparked the investigation.
The glass purchase came as Tesla has previously said in securities filings that its audit committee has to approve transactions above $120,000 that include the involvement of an executive, such as Musk, having a material interest.
Lawyers and Tesla board members are now investigating to see what funds were used, what the building is and whether Musk has a role in the project. The investigation is also looking into if employees were used for the project and spent time on it over other company obligations.
The Wall Street Journal said the outcome of the investigation is not known at this time.
Benzinga reached out to Tesla for comment and will update the story accordingly.
Musk has a strong presence in Texas with Tesla’s headquarters, SpaceX launch site and operations, and The Boring Company’s headquarters all located in the Lone Star state.
In 2020, Musk publicly said he would own no houses and went on to sell many of his houses.
The world’s richest man went on to say that he was living in a $50,000 home and also owned a Boxabl that was used as a guest house.
Musk shut down rumors previously that he was shopping for a new home, but also shared that he should have a more permanent place to live.
The WSJ reports that LLCs tied to Musk’s advisers show the purchase of 500 acres of land near the Colorado River and Tesla’s Texas Gigafactory.
Benzinga reported in February that Musk could be partnering with Lennar Corp on a housing development in Bastrop County, near headquarters for Tesla and The Boring Company.
Codenamed “Project Awesome,” the development on 450 acres was said to include 110 houses and create a housing subdivision.
Musk noted that for years there was a need for more houses in the areas by his businesses and tweeted, “Urgent need to build more housing in greater Austin area!”
With the latest report, the question now is if Musk was speaking in favor of more houses for his employees or a house for himself.
Produced in association with Benzinga
Edited by Alberto Arellano and Joseph Hammond
