Elon Musk Sells L.A Mansion to NetEase CEO William Ding Lei

Elon Musk, CEO of Tesla and SpaceX has reportedly sold one of his Bel-Air Mansion in Los Angeles, California after he announced on Twitter that he would no long own any physical property. According to public records, the buyer is a limited liability company tied to William Ding Lei, CEO of Chinese internet giant NetEase.

Records also say that Musk purchased the house for $17 million in 2012 from Mitchell Julis, co-founder of hedge fund Canyon Capital Advisors. According to Wall Street Journal, Musk still possesses other properties in the area.

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Musk said in an interview with The Wall Street Journal in May that he had decided to sell his possessions not because he needed the money, but because “I’m trying to make my life as simple as possible right now, so will only keep things that have sentimental value.”

On June 11, NetEase (9999.HK) became the second Chinese company to re-list in Hong Kong after Alibaba. In 2020, William Ding took the then three-year-old NetEase to ring the NASDAQ bell. Netease opened at $15.3 that day and closed below its offer price of $12.125, down 21.77%.