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He says that there is a 70% chance that he will move there.
Elon Musk said he planned to travel to Mars aboard one of his SpaceX rockets.
"I know exactly what to do," Tesla's founder told Axios on HBO in a new interview.
"I'm talking about moving there."
Musk, 47, added that the move could be permanent because the technology does not yet allow return trips:
"We think you can come back, but we are not sure," he said.
He estimates that he will have a 70% chance of traveling on the red planet with a trip price set at "a few hundred thousand dollars".
The technology could be made public in seven years, he says.
However, Musk said the potential risks of traveling would be great with "good chances of death" for anyone choosing to travel.
"Your probability of dying on Mars is much higher than the Earth," he said. "Really, the announcement to go on Mars would be like [Sir Ernest] Shackleton [supposed] announces to go to Antarctica. It is going to be difficult. There is a good chance that death will happen in a small can through space. "
When he made the trip, Must said that he was planning to work "nonstop to build the base" with "little free time" on the charts.
"And even after all this, the environment is very hard," he said.
"So, there's a good chance you're going to die there, we think you can come back, but we're not sure now, does that sound like a way out for the rich?"
When asked why anyone should make the trip considering the risks, he replied:
"There are a lot of people climbing mountains, people are dying all the time on Mount Everest, they like to do it to meet the challenge."
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