Elon Musk Forecloses on LA Home; Owners Claim They Owe Him a ‘Spiritual Debt’

Tesla CEO Elon Musk has initiated foreclosure proceedings on a Bel-Air house once owned by filmmaker Jordan Walker-Pearlman and his wife, screenwriter Elizabeth Hunter. The property has a significant history, as it was previously owned by Walker-Pearlman’s late uncle, iconic actor Gene Wilder.

Musk acquired the home in 2013 for $6.75 million through one of his trusts before selling it to the couple for $7 million in 2020, according to The Wall Street Journal. Initially, Musk had listed the estate for $9.5 million, a price point that was beyond the couple’s budget.

In order to finalize their purchase, Walker-Pearlman and Hunter took out a loan of $6.7 million from Musk in 2020. The billionaire and Walker-Pearlman reached an understanding to ensure the property would be preserved, as Walker-Pearlman has fond childhood memories associated with the home, the Journal reported back in 2022.

However, the couple has recently faced substantial financial difficulties, primarily due to the significant impact of the writers’ and actors’ strike last year, leading to missed payments. In late July, Musk’s representatives took the first formal step in the foreclosure process by filing a notice of default. This notice indicated that Musk could potentially sell the property after a waiting period of 90 days.

Despite the legal proceedings, there seems to be no animosity between Musk and the couple. In an interview, Walker-Pearlman expressed gratitude toward Musk, noting that the billionaire provided a “magical opportunity” for them to own the home. He stated, “There’s no tragedy here. I have no complaints,” and added that he and Hunter feel a “spiritual debt” to Musk.

In light of their current situation, the couple has put the home back on the market with an asking price of $12.95 million, represented by Drew Meyers from Westside Estate Agency. Meyers has not responded to inquiries regarding the listing outside of regular business hours.

The history of the house is notable, with Wilder, famed for his roles in movies such as “Willy Wonka & the Chocolate Factory” and “Young Frankenstein,” having purchased the 2,800-square-foot residence in 1976 for approximately $300,000. The property features a kidney-shaped pool and commands a view of the Bel-Air Country Club, enhancing its value and appeal.

While Musk has not responded to requests for comments made outside standard business hours, the unfolding situation highlights the intertwining of personal relationships and financial transactions within the realm of real estate.

Source: Business Insider