Elon Musk owns a tiny home and Jeff Bezos has over 500 million in real estate. Learn about how wealthy people buy and sell homes in this article.

Table of Contents:

Top 10 Richest People in the World: How Do Wealthy People Sell and Buy Homes

Top 10 Richest People in the World

Elon Musk: $269 billion net worth

Jeff Bezos: $187 billion net worth

Bernard Arnault: $164 billion net worth

Bill Gates: $133 billion net worth

Larry Page: $124 billion net worth

Mark Zuckerberg: $124 billion net worth

Sergey Brin: $119 billion net worth

Warren Buffet: $117 billion net worth

Steve Ballmer: $111 billion net worth

Larry Ellison: $107 billion net worth

Frequently Asked Questions (FAQ)

How do rich buy houses?

Where do rich people buy their houses?

Why do wealthy people buy real estate?

Do the wealthy buy homes?

Do millionaires pay off their house?

Where do rich people buy second homes?

Where are billionaires buying property?

Where do billionaires own houses?

Do most millionaires come from real estate?

Top 10 Richest People in the World: How Do Wealthy People Sell and Buy Homes

Billionaires have a significant impact on the world, impacting everything from political choices to social and economic change. In total, there are 2,755 billionaires on the planet, according to Forbes. There are only five persons in the world whose wealth exceeds $100 billion. Many of these billionaires are the founders of technology companies, with a significant percentage of their wealth invested in the companies they started.

Read on to learn about the Top 10 rich

Top 10 Richest People in the World

Elon Musk: $269 billion net worth

For a long time, Elon Musk has been involved in a variety of enterprises. When he was attending Stanford University, Elon Musk invented Zip2, one of the first internet navigation systems. With a fraction of the profits from this enterprise, X.com, an online payment system that later became PayPal, was launched. Though he sold both of these technologies to other companies, Musk is still in charge of his third project, Space Exploration Technologies (SpaceX), which aims to lower the cost of space exploration.

While Elon Musk has been noted to be one of the wealthiest people in the world, he is far from house rich. Believe it or not, this 50-year-old billionaire with a $269 billion net worth lives in a $50,000 tiny home instead. Not every wealthy person is interested in really rich houses.

Jeff Bezos: $187 billion net worth

In a Seattle garage in 1994, shortly after resigning from the hedge fund D.E. Shaw, Jeff Bezos launched Amazon.com.

Although Amazon.com began as a book retailer, it has evolved into a one-stop-shop for everything under the sun and is now perhaps the world’s largest retailer.

When Jeff Bezos isn’t blasting himself into space, he’s looking for a new prize home to add to his outstanding real estate collection.

His real estate interests are estimated to be worth at least $578 million. The billionaire has purchased a number of homes in Washington, D.C., and a number of New York City apartments, a couple of vast estates in California, a ranch in Texas, and a number of millionaires houses in California.

Bernard Arnault: $164 billion net worth

LVMH, the world’s largest luxury goods firm, is headed by Bernard Arnault, a native Frenchman. Louis Vuitton, Hennessey, Marc Jacobs, and Sephora are just a few of the world-famous brands under this company’s control.

His luxurious real estate portfolio includes a 150-year-old castle in France, a glamorous hotel in the French Alps where he typically stays in the penthouse, a villa on the island of St. Tropez, and five homes in Beverly Hills.

Bill Gates: $133 billion net worth

In 1975, while attending Harvard University, Bill Gates and Paul Allen began developing novel software for microcomputers.

Besides being the world’s largest software company, Microsoft builds personal computers, publishes books through Microsoft Press, offers email services via its Exchange server, and sells video gaming consoles and related peripheral devices.

Bill Gates is also a significant player in the real estate industry, in addition to his investments in the stock market. According to Wealth-X, Bill Gates has a real estate portfolio valued at approximately $166 million. Commercial and residential properties are among his investments in the real estate industry.

Larry Page: $124 billion net worth

Like that of numerous other tech billionaires on our list, Larry Page’s claim to fame began in a college dorm room. Page and his buddy Sergey Brin came up with the notion of increasing data extraction skills when using the Internet while at Stanford University in 1995. The team created “Backrub,” a new form of search engine technology named after its capacity to examine “backing connections.” After that, Page and Brin co-founded Google in 1998, with the former acting as CEO until 2001.

Larry Page owns a stunning 7.2 million dollar home in Old Palo Alto and has even been known to have Elon Musk sleepover when he needs a place to stay while in town.

Mark Zuckerberg: $124 billion net worth

In 2004, while attending Harvard University, Mark Zuckerberg and three of his friends co-founded Facebook (now known as Meta). As Facebook grew in popularity, Zuckerberg dropped out of Harvard to devote all of his time and energy to the growing business.

As reported by the Wall Street Journal, Mark Zuckerberg, plans to work from home for up to half of 2022, thanks to his $320 million real estate holdings.

The rich family house portfolio now has over 1,400 acres and ten residences in Palo Alto, San Francisco, Lake Tahoe, and Hawaii. It seems like he and his neighbors don’t get along. There have been complaints about building noise in San Francisco and a petition against “colonization” because of his growing real estate holdings in Hawaii.

Sergey Brin: $119 billion net worth

In comparison to the other firms on this list, Google is unique in that its co-founders are pretty close in terms of overall wealth. Sergey Brin’s participation with Google is similar to that of Larry Page. Brin served as co-president with Page when the two formed the firm in 1998 until Eric Schmidt took over as CEO in 2001.

Sergey is known to have a lavish 48.88 million dollar home in Alpine, New Jersey, that has about 30,000-square-feet of living space sprawled over 42 rooms.

Warren Buffet: $117 billion net worth

Warren Buffett, the world’s most renowned living value investor, submitted his first tax return at the age of 14 in 1944, disclosing his profits from his boyhood paper route. In 1962, he began investing in Berkshire Hathaway, a textile firm, and by 1965, he had become the dominant stakeholder. In 1967, he extended the firm to include insurance and other ventures. Berkshire Hathaway is now a half-trillion-dollar corporation, with a single share of stock (Class A shares) selling for more than $477,000 as of January 2022.

Instead of investing in tangible properties, Warren Buffet will prefer real estate investment trusts, otherwise known as REITs. But he isn’t known to value the real estate market as highly as he does other investment ventures.

Steve Ballmer: $111 billion net worth

After Bill Gates persuaded him to leave Stanford University’s MBA program, Steve Ballmer joined Microsoft in 1980. He was the company’s thirty-first employee. In 2000, Ballmer succeeded Bill Gates as CEO of Microsoft, succeeding him. He maintained the role until 2014 when he stepped down. During his tenure, he orchestrated the $8.5 billion purchase of Skype in 2011.

Steve purchased a waterfront mansion in Washington State worth 9.8 million in December of 2019 is known to have a few other Seattle residences.

Larry Ellison: $107 billion net worth

Along with Oates and Miner, Ellison co-founded Software Development Laboratories (SDL), which published Oracle, the first commercial relational database application to use Structured Query Language two years later. 91 SDL changed its name to Oracle Systems Corporation in 1982 when the database application became so successful. In December 2018, Ellison became a member of Tesla’s board of directors.

Over the previous decade, Ellison has spent millions on luxury real estate, mainly in California. Ellison purchased practically the whole Hawaiian island of Lanai for $300 million, intending to develop a hydroponic farm and luxury resort there.

Read on to get your questions about how wealthy people buy and sell homes answered.

Frequently Asked Questions (FAQ)

How do rich buy houses?

Rich people’s homes are purchased through various avenues, including the one any regular people who buy houses do – submit an offer. However, most of the superrich won’t need to take out a mortgage, yet most of them do.

For years, the world’s wealthiest people have taken out mortgages on the world’s most expensive properties, frequently up to 100% of the property’s worth, with the help of a team of attorneys, accountants, and banks for rich people. Most loans are interest-only, and most are never paid off unless the house is sold; increasingly, the next generation will take out a similar loan when a house is inherited.

The cumulative value of many house loans for a super rich individual can reach hundreds of millions of dollars, with foreign private banks often providing the money. They usually clear loans faster than a traditional bank, allowing customers to take advantage of better deals.

Where do rich people buy their houses?

Rich people houses can be found all over the world, from Italy to France, Japan, and often, the U.S.A. A list of the top cities that some are calling home of the rich can be found in these popular cities due to their luxury shopping, connectivity, and number of other super rich neighbors nearby.

• London, U.K.
• New York City.
• Tokyo, Japan.
• Sydney, Australia.
• Paris, France.
• Chicago, U.S.A.
• San Francisco, U.S.A.
• Osaka, Japan.
• Toronto, Canada.
• Washington, D.C., U.S.A.

Why do wealthy people buy real estate?

There are a number of reasons why wealthy people buy a house instead of pouring their funds into another stock or business. One of the things rich people buy is tangible assets that can increase rich people banks in the long run. They could be buying a house for a number of reasons, which include:

1. Passive income through cashflow properties used as rentals.
2. Short-term real estate opportunities include flipping rundown homes into nice rich houses.
3. Federal tax benefits.

Do the wealthy buy homes?

Approximately 90% of the world’s millionaires have made their financial freedom through real estate investment during the previous two centuries. Real estate is the best option for the typical investor to build considerable wealth. Like any other type of investing, real estate investment is best begun early so you can put time on your side.

Do millionaires pay off their house?

The majority of people who want to purchase a home must obtain financing from a bank or mortgage business. In contrast, those who have millions of dollars in their bank accounts are more likely to have the funds necessary to cover the cost of a multi millionaire house.

The question is, why do so many wealthy individuals, including those who do not require it, take out a mortgage? It is seen as a financially advantageous kind of debt for these individuals.

As an alternative, even very rich borrowers who are well-qualified for a mortgage loan might take advantage of lower interest rates. With a 3 percent interest rate, borrowing from the bank to pay for your home may make financial sense, so you’ll be free to invest in assets with a higher rate of return. When you can borrow money at a low-interest rate and invest it in a brokerage account instead of putting it in a house, why not?

Many wealthy people also estimate their returns. Individual tax deductions rather than standard deductions may be at play here.

Where do rich people buy second homes?

London is the #1 second-home hot spot for the world’s superich, according to a recent analysis by New World Wealth, a wealth research business.

According to the report, there are 22,300 multimillionaires in London who own second rich estate properties worth $10 million or more. This is in addition to the 9,700 multimillionaires who live in London as their primary abode.

With 17,400 second-home multimillionaires, New York City comes in second. Despite all of the media emphasis surrounding foreign purchasers in Manhattan, the survey found that the majority of New York’s second-home owners are from the rest of the country who want a rich home in the big apple.

Where are billionaires buying property?

Affluent individuals have been circling the world in search of mansions as a means of diversifying their holdings, making sensible investments, and, of course, putting their money on display wrapped in a beautiful residential bow. An investment in real estate in high-profile locales such as New York City, London, Monaco, and, more recently Los Angeles, is replacing the purchase of another vacation home in Aspen or a beachside getaway in St. Barths by this newly minted ultra-wealthy elite that represent billionaires houses.

Where do billionaires own houses?

Billionaires homes can be found all over the world, and often, more than one super rich house. Some of the most popular places that the mega rich buy rich houses are:

• London
• New York City
• Miami
• Monaco
• Los Angeles
• Silicon Valley
• San Francisco

Do most millionaires come from real estate?

Many millionaires either come from real estate or buy rich people homes once they establish their wealth. Real estate investing has really aided in developing 90% of the world’s millionaires. One of the most reliable wealth-building mechanisms is real estate, which is an important component of a well-diversified portfolio.

Real estate wealth building opportunities aren’t only available for the super rich lifestyles. Richr provides home buyers with a great way to get 2% cashback on their real estate purchase. On a rich house of over $3 million, that’s $60,000 in your pocket, ready for your next investment.