Elon Musk, the world’s richest man, has admitted that he currently does not own a home and sleeps in the spare bedrooms of friends. Musk made the remark in a recent interview with TED’s Chris Anderson.

“I don’t even own a place right now. I’m literally staying at friends’ places,” he was quoted as saying by the New York Post.

“If I travel to the Bay Area, which is where most of Tesla’s engineering is, I basically rotate through friends’ spare bedrooms,” the Tesla CEO added.

“I don’t have a yacht, I don’t take vacations,” he added. Musk was responding to a question about wealth disparity across the world and the amount of money spent by billionaires.

“I think there’s axiomatic flaws that are leading to that conclusion. It would be very problematic if I would be consuming billions of dollars a year in personal consumption, but that is not the case,” said Musk.

“It’s not as though my personal consumption is high, with the one exception being the plane. If I don’t use the plane then I have less hours to work,” he added.

On Sunday, the video was posted on TED’s YouTube channel.

Last year, the millionaire revealed that his principal abode is a $50,000 SpaceX rental. He also acknowledged to having a “events home” in the Bay Area in the same tweet.

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