Elon Musk’s former LA home suffers over $3m price chop before hitting foreclosure auction block
Elon Musk’s former abode in Los Angeles is deemed a “piece of Hollywood history,” considering its glittery ownership history tied to the late legendary Willy Wonka actor Gene Wilder. Built in 1951 by LA architect Robert Byrd, the estate overlooking the Bel-Air Country Club has suffered a price chop. Although the white-shingle house first hit the market in August for $12.95 million, its price tag has dropped to $9.5 million.
According to Mansion Global, this major $3.5 million price cut comes a month before the estate enters its auction chapter. The drop has reportedly been attributed to the sellers, who relied on the billionaire Tesla CEO’s loan to buy the place from him and failed to complete their payments. The search for a potential buyer rages on. However, even if the ideal match isn’t found by next month, the estate is headed for the auction block anyway, per recently filed documents.
Also read | New set of Diddy lawsuits accuse him of sexually assaulting and drugging teen girl, Florida man
Elon Musk’s history with the LA house + his 1 condition to potential buyers
Musk snapped up the 2,756-square-foot house for $6.75 million in 2013. Years down the line, he publicly announced on social media that he would be “selling almost all physical possessions. Will own no house.” In a follow-up tweet, he declared his “one stipulation” on the house’s sale: Gene Wilder’s old house “cannot be torn down or lose any its soul.”
Fortunately, he found the perfect buyers in the Willy Wonka icon’s own nephew, filmmaker Jordan Walker-Pearlman and his wife, Elizabeth Hunter. Records show that they were supposed to get the place in exchange for $7 million. Musk lent them the majority chunk of $6.7 million through an LLC. However, the situation developed against Walker-Pearlman’s case, as he fell behind on payments amid last year’s writers’ and actors’ strikes. Earlier this year, he and his wife confessed to The Wall Street Journal that they are “at peace” with Elon despite the tech giant’s decision to foreclose. Wilder’s nephew also admitted that he and his wife “owe him (Musk) such a spiritual debt.”
Also read | Trump, Musk, RFK Jr’s McDonald’s viral dinner party pic predicted by 18th century ‘painting’? Here’s what we know
More about the Bel-Air home
Before the tech titan assumed ownership of the place over a decade ago, the 1971 Willy Wonka & the Chocolate Factory star bought it for around $300,000 in 1976. Three decades later, he ultimately let go of the estate. PropertyShark records reveal that he sold it for a little over $2.7 million.
According to the Bel-Air house’s listing with Westside Estate Agency’s Drew Meyers, the “timeless” house at 10930 Chalon Rd “sits directly on the golf course, on almost an acre, which is pretty ridiculous.” The four-bedroom house’s heart is its circular bar area. Pictures also show cosy fireplaces, manicured gardens, and a kidney-shaped pool, which are some other highlights of the classic property.
