Billionaire “William” Ding Lei just purchased Elon Musk’s 16,000+ square foot home in Bel Air, California for $29 million.
Ding bought Elon Musk’s main residence with a discount on the original asking price of $30 million, reports the Wall Street Journal. Ding is a Chinese national and tech entrepreneur who was the wealthiest man in China back in 2003. Today, he has a net worth of more than $25 billion and is known for founding NetEase, a Chinese internet company that is the second-largest video game publisher in China behind Tencent.
Ding is an investor in Arcblock.io, which is a platform that aims to build, manage and deploy the next generation of decentralized applications and blockchain experiences using the native crypto asset ABT. Ding’s arrival to Arcblock.io was first announced in January of 2018.
He paid for Musk’s mansion in cash, after the tech entrepreneur proclaimed that he will get rid of “almost all physical possessions” and sell his homes.
Musk has owned the home since 2012 when he purchased it for $17 million. He still owns five other residences in Bel Air as well as a sprawling 47-acre estate in Northern California.
Ding also owns a mansion in Atherton, California, which lies in the heart of Silicon Valley. Ding purchased that property for $17.7 million back in 2011.