Asia Tech Wire (Sep 5) -- Rumors have recently surfaced on Chinese social media platforms that Tesla CEO Elon Musk spent $150 million to buy a house in Beijing.

The sky quadrangle Musk allegedly purchased is located at No. 8 Xiaoyun Road in Beijing and belongs to MAHA Beijing, a property jointly built by Hopson Developmen and Aman Resorts founder Adrian Zecha.

In response, a reporter from Chinese media outlert Lanjinger contacted several real estate agents responsible for the sale of in the neighborhood.

According to Lanjinger, the salespeople claimed that the news of Musk's purchase was indeed true, and that the U.S. billionaire had indeed bought the sky quadrangle in the neighborhood.

Some Chinese netizens interpreted the news as Musk being bullish on China, purchasing the property at a time when Chinese home prices are falling.

These people also believe that the purchase was a gesture of goodwill by Musk to secure regulatory approval for Tesla's Full Self-Driving (FSD) feature in China as soon as possible.

As for whether the information rumored on the Internet is true, the MAHA Beijing sales office said on Thursday that it could not make a statement, and was "not in a position to disclose the owners' information to the public."

A Chinese media source revealed, "The truth is that the property here was acquired by a Hungarian tycoon of Chinese descent with the surname Yu, who commissioned Musk to buy the property in China."

While Musk has not yet responded to the rumors, Tesla has called them "fake news," according to Chinese news site Sina.

In May 2020, Musk announced on social media platform X, "I am selling almost all physical possessions. Will own no house."

And in December 2021, he sold his last house in California for $30 million and became "homeless."