| Boxabl, founded in Las Vegas in 2017, makes tiny homes that retail for just $60,000 each. That price has attracted a 157,000-person waiting list, over $4 million of down payments, and endorsements from the likes of Elon Musk.
But a lawsuit filed by a former high-ranking executive, the company’s financial disclosures, and an investigation by Insider, raise questions about whether Boxabl is the groundbreaking solution to America’s housing crisis its founders claim — or a mirage in the Nevada desert.
The father-and-son duo behind Boxabl have doubled their own salaries, sold off millions of dollars of their shares, and lavished money on expensive cars, pricey real estate, and other luxuries.
The company promised to revolutionize housing. But production problems, questionable governance, and its founders’ spending are standing in the way. |