June 19, 2020 / 10:33 PM / 21 days ago

Elon Musk sells Bel-Air house to Chinese billionaire for $29 million: WSJ

FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the automobile awards "Das Goldene Lenkrad" (The golden steering wheel) given by a German newspaper in Berlin, Germany, November 12, 2019. REUTERS/Hannibal Hanschke

(Reuters) - Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk has sold one of his homes in the Bel-Air area of Los Angeles for $29 million, the Wall Street Journal reported on Friday, citing public records.

"I am selling almost all physical possessions. Will own no house," Musk had said here in a tweet on May 1.

The buyer is a company tied to Chinese billionaire William Ding, the report said. He is the founder and chief executive officer of online gaming firm NetEase Inc (NTES.O).

Musk bought the house for $17 million in 2012 from Mitchell Julis, co-founder of hedge fund Canyon Capital Advisors, according to the report.

Musk still owns other properties in the area, the WSJ report said.

Reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel

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