Tesla Chief Executive Officer Elon Musk is taking steps to foreclose on a Bel-Air property that was purchased by Jordan Walker-Pearlman, a famous filmmaker, and his wife, screenwriter Elizabeth Hunter.
This house holds significant sentimental value as it once belonged to Walker-Pearlman’s uncle, the late actor Gene Wilder. One of Musk’s trusts acquired the property in 2013 for $6.75 million. In 2020, Musk sold it to the couple for $7 million, according to a report by The Wall Street Journal a few days ago.
Elon Musk listed the property
Originally, Musk listed the property for 9.5 million dollars, a price that was beyond the couple’s budget. To facilitate the purchase, Walker-Pearlman and Hunter financed their 2020 deal with a $6.7 million loan provided by Musk. The billionaire had an understanding with Walker-Pearlman, who cherished the home from his childhood, to ensure that the house would be preserved, as reported by the Journal in 2022.
Unfortunately, the couple has fallen behind on their payments, significantly impacted by last year’s writers’ and actors’ strike, according to the Journal’s latest report. This has led to the current foreclosure situation initiated by Musk.
- Elon Musk bought the property in 2013 for $6.75 million.
- Sold to Walker-Pearlman and Hunter in 2020 for $7 million.
- The couple financed the deal with a $6.7 million loan from Musk.
- Initial listing price was $9.5 million.
- Financial difficulties arose due to the writers’ and actors’ strike.
This story intertwines financial challenges, sentimental value, and the impact of industry-wide events, making it a compelling tale of modern-day Hollywood.
In late July, representatives for Elon Musk filed a notice of default, initiating the first formal step in the foreclosure process. According to the Journal, this notice allows Musk the option to sell the house after 90 days.
No Hard Feelings regarding the foreclosure on the property
Despite the foreclosure, there doesn’t seem to be any animosity between Musk and the couple involved. In an interview with the Journal, they expressed their gratitude towards the billionaire for facilitating the purchase.
“There’s no tragedy here. Elon gave us a magical opportunity. I have no complaints,” Walker-Pearlman stated, adding that he and Hunter “owe him such a spiritual debt.”
Listing the Property
The couple has listed the house for $12.95 million with Drew Meyers of Westside Estate Agency, as reported by the Journal. Meyers did not respond to a request for comment sent outside standard business hours.
A Piece of Hollywood History
Gene Wilder, the beloved star of “Willy Wonka & the Chocolate Factory” and “Young Frankenstein,” originally purchased the 2,800-square-foot home in 1976 for around $300,000. The property features a kidney-shaped pool and offers stunning views of the Bel-Air Country Club.
This property not only holds financial value but also represents a significant piece of Hollywood history and a unique opportunity for potential buyers.