SAN FRANCISCO, Calif. (KRON) – It’s rumored that Elon Musk is living in a $50,000 tiny home, also known as a Casita, Business Insider first reported.

Credit: Boxabl

This may come as a shock to some, considering Musk is one of the the richest guys in the world.

What’s even more shocking is that there’s a 47,000-person waitlist for these tiny homes made by Boxabl, Insider learned after speaking to their founder Galiano Tiramani.

The $49,500 375-square-foot unit includes 1 bedroom, 1 bathroom, a living room, and a kitchen.

Credit: Boxabl

Back in May, the SpaceX CEO took to Twitter to announce that he was selling almost “all physical possessions” and that he would own “no house.”

Since then, he sold all of his homes except one in the Bay Area that’s “rented out for events.”

Additionally, Musk confirmed that he’s currently living in a $50,000 house in Boca Chica, Texas which is where is SpaceX headquarters are located.

He tweeted in June “My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though. 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 some day.”

Coincidentally, back in November, Boxable uploaded a YouTube video with founder Galiano Tiramani saying they installed a Casita in Boca Chica for a “top secret customer.”

“Pretty exciting to have these guys as our initial customer. I think it indicates that people agree that we’re on to something big here,” Galiano says in the video.

It is not confirmed that Musk lives inside the Casita, but according to Insider Boxabl hasn’t shied away from alluding to supplying the tech powerhouse’s tiny home.