Tesla CEO and billionaire Elon Musk has begun foreclosing on a $13 million home acquired by a couple who loaned money from him.
In 2013, Musk bought the 2,750-square-foot home for $6.75 million. He sold it to filmmaker Jordan Walker-Pearlman and his wife screenwriter Elizabeth Hunter, in 2020 for $7 million. At the time, the couple did not have enough money to purchase the property, leading Musk to provide them with a loan as long as they ensured the house would be preserved.
However, the couple fell behind on payments following last year's writers' and actors' strike. This pushed Musk's representatives to file a notice of default in late July, the first step in the foreclosure process, as first reported by The Wall Street Journal.
Under the notice, Musk would be able to put the property up for a forced sale after a 90-day period. His affiliated noted that the billionaire currently does not have a forced sale in his plans. However, the couple has listed the house for sale for $12.95 million, the Journal reported.
For perspective, properties in the neighborhood list for as much as $15 million, according to Business Insider.
Musk's $13 Million Home
Located in the Bel-Air Country Club, Musk's property spans 2,750 square feet on a 0.78-acre lot. Built in 1951, the home features four bedrooms and four full bathrooms.
The property features plenty of charms, including wood-beamed ceilings, fireplaces, and a distinctive circular bar. Other standout features include an expansive outdoor area, a kidney-shaped pool, manicured lawns, and spaces for alfresco dining, Drew Meyers of Westside Estate Agency wrote in an Instagram post.
The community where the property is located also offers amenities, including a golf course and sweeping views of the city skyline and the ocean.
The property was designed by famous architect Robert Byrd. Musk's $13 million home was previously owned by Gene Wilder, the late star of "Willy Wonka & the Chocolate Factory," who bought it after the success of the 1974 film "Young Frankenstein." Walker-Pearlman is Wilder's nephew.
