Elon Musk is selling 4 of his LA homes listed for $62.5 million to a famous luxury real-estate developer

• Tesla CEO Elon Musk has reportedly signed a letter of intent to sell his Los Angeles properties to developer Ardie Tavangarian. 
• The LLC intends to combine the properties to form a single development and is expected to handle all aspects of architecture, construction, and design. 
• Tavangarian is a renowned developer and designer, whose LLC purchased the properties for an undisclosed amount. 
• Visit Business Insider's homepage for more stories.

Tesla CEO Elon Musk has reportedly agreed to sell four of his Los Angeles homes listed for a total of $62.5 million to an LLC owned by renowned developer Ardie Tavangarian.

The report comes after Musk's announcement in May that he'd be renouncing all of his property ownership in an attempt to "own no house." At one point, the SpaceX founder had a real-estate portfolio consisting of at least seven houses collectively valued at $100 million, Business Insider previously reported.See the rest of the story at Business Insider

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