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Elon Musk has reportedly begun foreclosure proceedings on the late movie star’s Bel Air, California home, which the couple acquired with a loan from him.
According to The Wall Street Journal, the 2,750-square-foot home where actor Gene Wilder lived from 1976 to 2007 received a notice of default late last month. The tech billionaire reportedly used a legal entity to serve the notice of default.
The Los Angeles County Department of Consumer and Business Affairs explains on its website that a foreclosure technically begins with a notice of default, which “informs you of the total amount owed, including any past due fees and foreclosure fees.”
A view of the Bel Air home once owned by Gene Wilder. (Google Maps/Google Maps)
The Wall Street Journal reported that the current owner, Wilder’s nephew Jordan Walker Pearlman, and his wife are unable to repay a $6.7 million loan they took out from Musk four years ago because of a 2023 Hollywood strike.
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The loan helped cover the $7 million the couple paid Musk in 2020 to become the new owners of the property, which Musk had owned since 2013, according to the outlet.
Tesla CEO Elon Musk spoke to reporters at the AI Safety Summit at Bletchley Park in Bletchley, England on November 1, 2023. (Leon Neal/Pool via Reuters/File Photo/Reuters Photo)
Walker Pearlman told The Wall Street Journal that Musk was “not hostile or spiteful” when he filed his notice of default, adding, “Elon gave us a magical opportunity. We have no complaints.”
Under the notice of default, Musk reportedly has the option to pursue a forced sale after 90 days. Wilder’s nephew told The Wall Street Journal that Musk’s affiliates indicated they had no such plans.
The couple recently put the home on the market, with the current asking price being $12.95 million, according to listing prices with Westside Estate Agency.
The asking price for the home is set at $12.95 million. (Google Maps/Google Maps)
“This is probably the end of a very unique and beautiful chapter in our lives,” Walker Pearlman told The Wall Street Journal. “I’m not unhappy at all.”
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FOX Business has reached out to Tesla for Musk’s comment about the house.
Once owned by the Wilder family, the mansion offers “a rare opportunity to own a piece of Hollywood history while enjoying the grandeur and tranquility of Bel-Air living,” according to a listing ad.
Based on the notice of default, Musk reportedly has the option to pursue a forced sale after 90 days. (Evan Agostini/Getty Images/Getty Images)
There are four bedrooms and four bathrooms.
According to the listing, the interior is filled with “original wood-beamed ceilings, a cozy fireplace and an open layout that allows for great flow of natural light,” as well as entertaining spaces, including a circular bar.
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The entire site is 0.78 acres and includes multiple outdoor seating areas and a pool.
In Bel Air, the average asking price for a home in July was $7.9 million, compared with the average sales price of $4.2 million, according to Realtor.com.
