The megabillionaire was tied to about 90 companies in the state, which he uses for everything from paying nannies to buying land to supporting Donald Trump’s re-election, according to a Times examination.
Kirsten Grind reported from Austin and Bastrop, Texas, as well as San Francisco. Susanne Craig and Alex Klavens reported from New York.
Feb. 27, 2026
In 2020, Elon Musk announced he was moving to Texas from California and embarking on a personal austerity campaign to strip his life of belongings.
“I am selling almost all physical possessions,” he posted on social media. “Will own no house.”
But in the years since, Mr. Musk, 54, has quietly built an empire of more than 90 companies and other legal entities in Texas, which have amassed a vast collection of assets, according to an examination by The New York Times.
The secretive network offers a glimpse into just how central one of the world’s richest men, who has a net worth of more than $650 billion, has made Texas to his operations and ambitions. More than 50 of his at least 90 companies there are subsidiaries or other entities affiliated with his business empire, such as the rocket company SpaceX and the electric vehicle maker Tesla, as well as his nonprofit Musk Foundation.
But The Times identified at least 37 companies that appeared to be largely for Mr. Musk’s personal use. Among them was one that owns two multimillion-dollar condominiums totaling more than 7,000 square feet in the Austin Proper Hotel, with sweeping views of downtown. Other companies managed planes that Mr. Musk uses for private travel and a portfolio of more than 1,000 acres of land, which when combined is bigger than Central Park in New York. The lines between Mr. Musk’s business and personal interests are often blurry, and some of the companies most likely served both purposes.
The Times’s examination also offers a window into how Mr. Musk used private companies to support Donald J. Trump during the 2024 election. Tapping these companies to cover the expenses of a super PAC is highly unusual, campaign finance experts said, and ended up obscuring how money was being spent because they are not subject to the disclosure requirements of super PACs.
The vehicle that Mr. Musk frequently turned to is one that many of the ultrarich use: limited liability companies, which are designed to shield owners from legal and financial risks, as well as public scrutiny. Whatever Mr. Musk’s intent, the effect of using these companies has been to disguise how he is spending his money.
Kirsten Grind is an investigative business reporter for The Times, writing stories about companies, chief executives and billionaires across Silicon Valley and the technology industry.
Susanne Craig is a Times investigative reporter and writes on a variety of topics.
Elon Musk’s Secret Web of Companies in Texas
The megabillionaire was tied to about 90 companies in the state, which he uses for everything from paying nannies to buying land to supporting Donald Trump’s re-election, according to a Times examination.
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Elon Musk’s Secret Web of Companies in Texas - The New York Times
By Kirsten GrindSusanne Craig and Alex Klavens
Produced by Leo Dominguez
Kirsten Grind reported from Austin and Bastrop, Texas, as well as San Francisco. Susanne Craig and Alex Klavens reported from New York.
Feb. 27, 2026
In 2020, Elon Musk announced he was moving to Texas from California and embarking on a personal austerity campaign to strip his life of belongings.
“I am selling almost all physical possessions,” he posted on social media. “Will own no house.”
But in the years since, Mr. Musk, 54, has quietly built an empire of more than 90 companies and other legal entities in Texas, which have amassed a vast collection of assets, according to an examination by The New York Times.
The secretive network offers a glimpse into just how central one of the world’s richest men, who has a net worth of more than $650 billion, has made Texas to his operations and ambitions. More than 50 of his at least 90 companies there are subsidiaries or other entities affiliated with his business empire, such as the rocket company SpaceX and the electric vehicle maker Tesla, as well as his nonprofit Musk Foundation.
But The Times identified at least 37 companies that appeared to be largely for Mr. Musk’s personal use. Among them was one that owns two multimillion-dollar condominiums totaling more than 7,000 square feet in the Austin Proper Hotel, with sweeping views of downtown. Other companies managed planes that Mr. Musk uses for private travel and a portfolio of more than 1,000 acres of land, which when combined is bigger than Central Park in New York. The lines between Mr. Musk’s business and personal interests are often blurry, and some of the companies most likely served both purposes.
The Times’s examination also offers a window into how Mr. Musk used private companies to support Donald J. Trump during the 2024 election. Tapping these companies to cover the expenses of a super PAC is highly unusual, campaign finance experts said, and ended up obscuring how money was being spent because they are not subject to the disclosure requirements of super PACs.
The vehicle that Mr. Musk frequently turned to is one that many of the ultrarich use: limited liability companies, which are designed to shield owners from legal and financial risks, as well as public scrutiny. Whatever Mr. Musk’s intent, the effect of using these companies has been to disguise how he is spending his money.
Kirsten Grind is an investigative business reporter for The Times, writing stories about companies, chief executives and billionaires across Silicon Valley and the technology industry.
Susanne Craig is a Times investigative reporter and writes on a variety of topics.
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Kirsten Craig has the BEST middle name! 👌😄