Could afford to live anywhere but Tesla boss Elon Musk living in $50K tiny guest house?

Tesla and SpaceX CEO Elon Musk, one of the world's richest multi-billionaires, is now living in a $50,000, 37-square-meter prefab guest house in Boca Chica, Texas, where his SpaceX headquarters are located.

Musk could afford to live anywhere, in any sort of lavish abode he desires. But he seems to have delivered on a vow to exit California and "sell almost all physical possessions" -- including six Californian mansions -- in the pursuit of "freedom," according to website i.stuff.co.nz.

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"My primary home is literally a $50k house in Boca Chica/Starbase that I rent from SpaceX. It's kinda awesome though," Musk said earlier in a tweet.

"Only house I own is the events house in the Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen someday," he continued.

Although, he joked in a reply to another tweet that his rental might now be worth $69,000 because of some home improvements he's made.

The Casita is an accessory dwelling unit (ADU) made by housing startup company Boxabl that is only about 37 square meters.

The houses are set up like studio apartments, with a "full-size" kitchen and bathroom, featuring a sliding glass barn door, on one side, and a living area and bedroom on the other.

The kitchen island extends around a corner to double as a dining table for two. The built-in wardrobe/shelving doubles as a half wall between the bedroom and living space, with a TV placed on top.

A washing machine and dryer are tucked into the remaining corner by the bathroom, with no inch of space unaccounted for.

According to the website, the foldable prefabricated homes are towed into the site and assembled in just one day, popping out a fully-equipped interior.

Marketing by the company also shows that multiple Casitas can be joined or stacked to create different layouts.