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Elon Musk reduced the value of the Hillsboro mansion by 5 5.5 million.

Following the announcement last week that automaker Tesla would move its headquarters from Palo Alto to Austin, CEO Elon Musk is slashing the price of his Hillsborough mansion by 5.5 million.

Tesla CEO Elon Musk is selling his Hillsborough mansion. (Redfin)

Musk, who founded the aerospace company SpaceX, listed the property in June for 37.5 million. It is currently valued at 31 31.99 million.

Tesla CEO Elon Musk is selling his Hillsborough mansion. (Redfin)

The seven-bedroom, 10-bathroom house is located on 47 acres with beautiful views of San Francisco Bay. Built in 1912, the 16,000-square-foot property restored the windows and doors from which it was built, as well as many high-tech facilities. These include the disappearing hydraulic lift wall that integrates the dining room and music room, the indoor sound system and the fiber optic cable under the garage. The house also has a separate two-bedroom apartment, pool and pavilion and a walkway.

Musk bought the home in 2017 for .4 23.4 million, according to public records. Mary and Brent Glaxon are current listing agents with Compass.

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