As the mother of one of the wealthiest men alive, this woman wasn’t brought up in luxury and even now doesn’t mind going without, including when she visits her son.
This woan has modeled for global brands, graced magazine covers, and become a best-selling author in her seventies. However, her name often draws attention because her eldest son is a millionaire. Surprisingly, though, she sleeps in the garage when she visits him.
She’s spoken about it publicly, not as a complaint, but as a matter-of-fact detail that stands out given her son’s financial status. But it’s consistent with choices he has publicly made about his living arrangements.
The Scale of Her Son’s Wealth
The woman’s son is widely recognized as one of the richest individuals in the world. His wealth is spread across multiple companies he has founded or co-founded, including electric car maker Tesla, rocket manufacturer SpaceX, and artificial intelligence startup xAI.
As of late 2024, he owned about 12% of Tesla, excluding options, though more than half of his shares had been pledged as collateral for personal loans totaling up to $3.5 billion. Earlier that year, a Delaware judge voided his 2018 compensation agreement, which had included options equaling an additional 9% of Tesla stock.
Forbes discounted those options by 50% pending the outcome of his appeal. He also holds major stakes in his other companies. SpaceX, founded in 2002, was valued at $350 billion in a private share sale in December 2024, with the millionaire holding an estimated 42% stake. In 2022, he acquired Twitter in a $44 billion deal and later renamed it X.
By August 2024, Forbes estimated that X had declined in value by nearly 70%. His newest venture, xAI, launched in 2023, was valued at $50 billion by private investors in November 2024. The entrepreneur owns approximately 54% of the company. Despite the scale of these holdings, he has publicly stated that he does not measure his life by material assets.
The Millionaire’s Public Statements About Letting Go of Possessions
In May 2020, the millionaire posted a series of statements on social media outlining his plan to give up nearly all his personal assets. “I am selling almost all physical possessions. Will own no house,” he wrote. In a follow-up post, he added, “Don’t need the cash. Devoting myself to Mars and Earth. Possession just weigh you down. [sic]”
The following year, in June 2021, he clarified that his main residence was a house in Boca Chica, Texas, near the SpaceX site. He described it as “literally a ~$50k house” that he rented from SpaceX. “It’s kinda awesome though,” he wrote.
At the time, the only property he owned outright was an events house in the Bay Area. He said that if he ever sold it, it would likely only be useful to a large family.
Why the Millionaire’s Mother Slept in the Garage at His Texas Home
During a 2022 appearance on the “Full Send” podcast, the millionaire described his main residence. The house, located near the SpaceX launch facility in Boca Chica, Texas, cost around $45,000. “It’s very small,” he said. Originally a two-bedroom home, he converted the garage into a third room.
