In 2013, billionaire entrepreneur Elon Musk purchased a prestigious mansion in Los Angeles that held deep personal significance for him. Located in the exclusive Bel Air neighborhood, the property stood out not just for its prime location, but also because it once belonged to one of Musk’s favorite actors: Gene Wilder. Famous for his roles in Willy Wonka & the Chocolate Factory and Young Frankenstein, Wilder had lived in the house until 2007, leaving behind many of his personal belongings.
Far from a typical real estate investment, Musk bought the home for $6.7 million with a heartfelt goal in mind: to preserve it as a tribute to Wilder and protect his legacy from being diminished or erased. Musk envisioned turning the home into a kind of museum in the actor’s honor. However, things didn’t go exactly as planned.
A home to honor Gene Wilder
By 2020—seven years after acquiring the property and having never lived in it—Musk decided to sell the mansion. The decision came amid a wave of personal downsizing in which he began selling off several possessions. Still, he insisted that Wilder’s memory be preserved. He listed the home for $9.5 million, adding a strict condition: no renovations or alterations that would compromise the house’s character. All original features and belongings linked to Wilder had to remain untouched.
Finding a buyer willing to agree to these terms seemed like a tall order. Surprisingly, a potential buyer appeared just days after the listing: a couple who seemed committed to preserving Wilder’s legacy. As it turned out, the man was Gene Wilder’s nephew. He reached out to Musk directly to begin negotiations.
While both parties shared the goal of honoring Wilder’s memory, the asking price proved to be a sticking point. Understanding their financial limitations—and moved by the family connection—Musk made one of his characteristically unconventional decisions. He lowered the price to $7 million and even offered to finance part of the purchase himself.
Musk’s worst ever deal?
At first, the arrangement seemed ideal: a relative of Wilder would care for the home, and Musk would gradually recover his investment. But the COVID-19 pandemic disrupted the couple’s finances, leading to delayed payments. Eventually, Musk issued an ultimatum.
In July 2024, the couple put the house back on the market for $12.5 million. When it failed to sell, they reduced the price to $9.5 million. As of now, the house remains unsold, the couple still occupies the property, and Elon Musk has yet to recover his money—turning what began as a heartfelt tribute into what some might call one of his worst financial decisions.
But the story doesn’t end there. Six months after the foreclosure process began, the house was taken off the market, further complicating any potential future sale. Adding to the situation, Wilder’s nephew signed an agreement with Los Angeles County officially designating the property as a historical landmark—permanently banning any interior or exterior renovations. As a result, what began as a heartfelt gesture may ultimately be remembered as one of the worst business decisions of Elon Musk’s entire career.
Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all. Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.