The billionaire inventor of electric vehicles says he has decided to sell his yacht, the Falcon, and will start from scratch with a “new ship.”
The Falcon, a luxury boat that Musk built with his brother, Jeff, is an idealized recreation of his former home in California.
It’s a $5 million vessel that has been in the family for decades, but the owners have said they intend to turn it into a luxury resort, an upscale hotel or an art collection.
The $150 million vessel was built in 2013 by the two brothers and is the largest vessel ever constructed by Musk.
Musk and his brother launched the boat in 2013 with their own money, then sold it to the family.
It was sold to the brothers again last year for $2.9 billion.
The brothers also have the rights to use the ship for their own private ventures.
Musk said Thursday that he is working with a new owner to design and build a new vessel.
He also said he has already decided to retire the Falcon.
“The Falcon is a boat that we built for myself, but it’s also a vessel that I want to continue to operate for others,” he said.
“So I am going to retire it.”
Musk, who has spent more than $40 billion building his SpaceX company, has said he plans to spend the money to develop a new yacht or other private vessel.
He also said that he will sell the Falcon as he works toward his goal of building a luxury oceanfront resort that will include hotels, restaurants, golf courses and a museum.
In addition to the yacht, he has a large collection of other boats, including the Yacht and Yacht Carnival, which he bought in 2013 for $1.6 billion.
He and his wife, Susan, live in the same $2 million house in the San Francisco Bay Area.