Elon Musk, the richest man in the world, recently admitted his modest personal consumption habits relative to his net worth.

Musk revealed that instead of buying his own home in the San Francisco Bay Area, he has been staying with friends who live nearby while he is working in the city at Tesla headquarters.

“I don’t even own a place right now, I’m literally saying at friends’ places,” said Musk in a recent interview. “If I travel to the Bay Area, which is where most of Tesla’s engineering is, I basically rotate through friends’ spare bedrooms,” he added.

“I don’t have a yacht, I don’t take vacations, so it’s not as though my personal consumption is high,” Musk continued, highlighting his impressive work ethic and unostentatious lifestyle. “One exception is a plane,” stated Musk. “But if I don’t use the plane, I have less hours to work.”

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The interviewer pushed Musk to address those who are upset by the concept of billionaires given today’s global disparities in wealth. Musk responded to this concern, saying, “I think there’s some axiomatic flaws that are leading to that conclusion. For sure, it would be very problematic if I was spending billions of dollars a year in personal consumption, but that is not the case.”

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