Inside Elon Musk’s Massive Texas Real Estate Portfolio

Elon Musk’s vision of a technocratic, spacefaring future may be focused on Mars for marketing purposes, but his first steps are firmly planted in Texas. 

As the richest person on Earth, Musk has not only reshaped industries through companies like SpaceX and Tesla (TSLA) but has also become a major player in the Texas real estate market. 

According to The Real Deal, Musk’s Lone Star State land holdings, valued at $3.4 billion for tax purposes, include futuristic communities, industrial projects, and personal residences.

Musk’s Big Move

Musk’s decision to relocate his businesses to Texas was largely driven by the Lone Star State’s business-friendly environment compared to California’s current regulatory landscape. 

Musk has also explicitly linked his move away from California’s progressive legislation on issues like LGBTQ+ rights, which he sees as stifling for his companies. 

Meanwhile, Texas offers a regulatory environment in which Musk believes his ventures can thrive without the constraints of what he views as state governments’ overreach.

Snailbrook is Boring

Musk made waves in 2023 when reports revealed his plans to develop a town near Bastrop, about 35 miles east of Austin. The development, adjacent to The Boring Company’s HQ, reflects Musk’s vision for self-sustaining communities designed around his technocratic principles.

The planned town, fittingly dubbed ‘Snailbrook,’ is envisioned as a collection of affordable, Musk-designed homes for Boring Company employees—although the current iteration is less utopia and more functional community. 

Musk’s companies own at least 440 acres in the area, including an 11-acre Starlink factory and various amenities designed for workers, such as a bar, pop-up shops, and a playground for Musk’s children. 

Starbase in Lone Star

Farther south, Musk’s other key real estate venture lies in Boca Chica, near Brownsville. The area, branded Starbase, is home to SpaceX’s rocket development site and includes prefabricated homes and amenities for employees. 

Starbase is small but growing fast, with Musk investing rapidly in infrastructure, including a $6M restaurant and $9M shopping center. 

While Musk’s efforts to rebrand the town faced resistance from local residents, particularly due to environmental concerns related to SpaceX’s operations, his influence is undeniable. His companies own at least 900 acres in the region.

In The Name of Industry

Musk’s Texas presence isn’t all about futuristic towns. Near Austin, Tesla’s Gigafactory is a key part of his industrial real estate holdings. Musk owns at least 2.5K acres surrounding the factory, strategically located near the Austin Bergstrom International Airport.

This area is also home to Musk’s personal residence, a $35M family compound with a 14.4 KSF Tuscan villa. Musk is also expanding his Neuralink operations with new office and manufacturing spaces about 10 miles east of Austin, further cementing his presence in the Texas capital.

Technocratic Dreamscape

Musk’s Texas real estate portfolio isn’t just about land. It’s about realizing his vision for a new kind of society—one that is self-sustaining, innovative, and free from the political and regulatory constraints he perceives in other parts of the country. 

If it sounds like science fiction, it’s because it just might be. But whether it’s through his employee communities like Snailbrook or the development of Starbase, Musk’s presence in Texas is also a calculated business and political move.

However, his relationship with local communities has been rocky. SpaceX’s environmental impact and legal challenges surrounding wastewater releases have led to tension with residents and community groups. Still, with that kind of money, Musk’s influence will only continue to grow.