On the heels of his announcement last week that auto manufacturer Tesla will be moving its headquarters from Palo Alto to Austin, CEO Elon Musk is slashing the price of his Hillsborough mansion by $5.5 million, reports Mansion Global.
Musk, who also founded aerospace company SpaceX, listed the property in June for $37.5 million. Its current price is $31.99 million.
The seven-bedroom, 10-bath, 16,000 square foot home sits on a whopping 47 acres with panoramic views of San Francisco Bay. Built in 1912, the property features restored windows and doors from the era in which it was built, but also many high-tech amenities. These include a disappearing hydraulic lift wall that merges the dining room and music room, interior sound system and fiber optic cable under the garage. The home also boasts a separate two-bedroom apartment, pool and pavilion and hiking trails.
Musk bought the home in 2017 for $23.4 million, according to public records. Mary and Brent Gullixon with Compass are the current listing agents.
Musk said last Thursday while Tesla’s HQ is moving, the company will continue to expand activities in California. He said they plan to boost production in their Fremont facilities by 50 percent, and the company announced a new lease for a large office space in Palo Alto.