Elon Musk Said He'd Own No House, Now He's Rebuilding A Real Estate Empire

Billionaire Elon Musk is the world's richest person, with a net worth of $370 billion, but you may not know it by his lifestyle, which includes no yachts and a plan to sell all his homes.

While Musk previously sold off his numerous houses, he is once again the owner of an iconic Los Angeles home and could be building up his real estate holdings again.

What Happened: Musk paid $6.75 million to acquire a Los Angeles home that once belonged to actor Gene Wilder in 2013.

The home was one of several that Musk had previously sold off as part of a plan to get rid of "almost all his physical possessions," including his houses. Musk sold the house in 2020 to Wilder's nephew Jordan Walker-Pearlman.

Musk loaned $6.7 million to Walker-Pearlman to help purchase the home at a sale price of $7 million, which once belonged to his uncle, famous for playing Willy Wonka in "Charlie and the Chocolate Factory."

The home was foreclosed on in late 2024 and now belongs to Musk once again, according to a report from Realtor.com. Property records show the home is owned by an LLC which was previously used by Musk to buy the house.

Musk once said that Wilder's old house could not be torn down or "lose any (of) its soul" when he attempted to sell the property, adding stipulations for a potential buyer.

Walker-Pearlman fell behind on loan payments, and Musk filed a default notice in July 2024, saying the home could be sold. Wilder's nephew attempted to sell the house for $12.95 million in mid-2024 and later lowered the sale price to $9.5 million in late 2024, before he was informed that the house would be sold via auction in December 2024.

Walker-Pearlman confirmed the foreclosure and sale of the home to The Hollywood Reporter.

"Everything was orderly and convivial," Walker-Pearlman said.

Wilder's nephew said the terms of the sale remain subject to a confidentiality agreement. Walker-Pearlman is a writer and director who previously lived in the home with his uncle and also used the home to film his autobiographical film "The Requiem Boogie."

The house was built in 1951, and Wilder lived in the home for years with his then-wife, Gilda Radner, before selling it in 2007 for $2.7 million.

Realtor.com stated that it is unclear whether other bidders participated in the auction process, as the same LLC that Musk had previously used to buy the home was the one that ultimately purchased it.

• You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — check out five stocks flying under the radar that deserve your attention.

Why It's Important: While the LLC connected to Musk owns the home, it is unclear what will happen to the home next.

Tesla still has a factory in California where the home is located, while most of Musk's businesses have moved their headquarters to Texas.

Under Musk's prior ownership, the home was not often used as a residence, but rather part of his real estate holdings.

After selling off his homes in 2020, Musk's real estate holdings are once again growing, with reports that he owns several homes in Texas.

Musk has publicly confirmed ownership of a small, ranch-style home in Texas, located near the SpaceX headquarters. The billionaire claimed in 2021 that he was renting a $50,000 house from SpaceX.

A report earlier this year said Musk paid $6 million to acquire a mansion in the Austin neighborhood of West Lake Hills as neighbors started complaining about what Musk's residence meant for traffic, security and violations of city ordinances like permits for and the height of fences.

Another report stated that Musk purchased two nearby properties to create a potential compound to house the mothers of his children.

After making a promise to own no homes, it appears that Musk is quietly building back up a portfolio of homes across Texas and California.

Read Next:

• Elon Musk Paid $1M For A James Bond Car — It Was Found In A $100 Storage Unit

Image created using photos from Shutterstock.