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Elon Musk sells Bel-Air house to Chinese billionaire for $29 million

Tesla Inc Chief Executive Officer Elon Musk has sold one of his homes in the Bel-Air area of Los Angeles for $29 million. Musk still owns other properties in the area.

"I am selling almost all physical possessions. Will own no house," Musk had said in a tweet on May 1.

The buyer is a company tied to Chinese billionaire William Ding, who is the founder and chief executive officer of online gaming firm NetEase Inc.

Musk bought the house for $17 million in 2012 from Mitchell Julis, co-founder of hedge fund Canyon Capital Advisors.

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