This is one of those things that can only happen when you’re as rich as Tesla CEO Elon Musk and see the world the way he does. As such, saying that it sounded great in his head is an understatement.
A home with more sentiment than value. In 2013, despite his lack of interest in real estate, Musk bought the former mansion of beloved actor and comedian Gene Wilder. It was a property in the exclusive Bel-Air Country Club area in Los Angeles.
The house, located across the street from Musk’s then-Los Angeles mansion, had been Wilder’s home since the late 1970s. In 2013, a trust associated with Musk bought the property. The Tesla CEO paid $6.75 million for the house. Still, his interest in the mansion wasn’t related to its real estate value, but rather to preserve the actor’s legacy and the personal pieces that adorned its walls.
A sale with terms and conditions. Seven years after the purchase, in 2020, Musk decided to sell the house for $9.5 million. But he did so with one condition: The buyer had to agree to keep the house as it was rather than tearing it down or radically modifying it.
Keeping it in the family. Jordan Walker-Pearlman, Wilder’s nephew, and his wife, Elizabeth Hunter, were interested in the house. Still, the high price tag was beyond the couple’s budget. Walker-Pearlman had spent much of his childhood there, so he had a strong personal connection to the property.
Since the couple seemed to meet the condition of respecting Wilder’s legacy, Musk agreed to lower the mansion’s price to $7 million and decided to finance the purchase. However, here comes the most curious part of the story: Musk agreed to lend the couple about $6.7 million so they could buy the house he was selling them.
The defaults began. Four years after purchasing the mansion, The Wall Street Journal published that a company linked to Musk had filed a notice of default on that loan and would foreclose on the mansion.
According to the media outlet, Walker-Pearlman and his wife fell behind on Musk’s loan payments after experiencing financial difficulties following the Hollywood writers’ strike in 2023. Although the notice of default technically allows for the home’s sale within 90 days, Walker-Pearlman and his wife continue to live in the property.
“Express” sale to pay off the debt. The legal conditions allow the owners to force the sale of the property to pay off the debt. Therefore, Walker-Pearlman and his wife decided to voluntarily put the house on sale for a price of $12.95 million, according to the specialized media outlet Mansion Global, thus doubling the price of the property in just four years.
It’s unknown whether the couple will preserve Wilder’s legacy for the new owner or whether the need to sell the property to cover debts will take priority.
Grateful to Musk. Despite the unpleasant non-payment situation, Walker-Pearlman maintains a positive attitude toward Musk and his willingness to preserve his uncle’s legacy.
Wilder’s nephew said that he doesn’t see any tragedy in the situation. “Elon has given us a magical opportunity. I have no complaints. I did not want to owe Elon any more moral debt. We already owe him a spiritual debt,” Walker-Pearlman told the WSJ.
This article was written by Rubén Andrés and originally published in Spanish on Xataka.
Image | Wikimedia Commons (Steve Jurvetson)
View 0 comments