Why Elon Musk Spent $1 Million on a Rusty Car from a $100 Storage Unit

If you’re the wealthiest individual on the planet, why not spend some of that extra money on an old car? One might assume that Elon Musk would exercise more financial wisdom in that regard, considering he is the head of companies like Tesla and SpaceX.

In 2013, Musk reportedly shelled out an incredible $997,000 to acquire a car discovered by a couple in a storage unit. Fortunately, there was a more substantial reason for this extravagant purchase than initially apparent.

In 1989, a young couple, who remain anonymous, bought an unclaimed storage unit for $100. The auction was conducted blindly, meaning neither the buyers nor the seller knew the contents of the unit, adding a level of risk and excitement.

The couple from Long Island, New York, found themselves in for the surprise of a lifetime.

Beneath some dusty old blankets lay the 1976 Lotus Esprit sports car used in the 1977 Bond film, “The Spy Who Loved Me.”

The car, in the movie, transforms into a submarine and fires underwater missiles, clearly making it a hot item.

The Lotus Esprit had been sitting in the storage unit for over a decade since the release of the Roger Moore Bond movie.

Initially, the couple didn’t recognize the significance of their discovery, according to Doug Redenius, the person who authenticated the vehicle.

In an interview with NBC in 2013, Redenius mentioned that the couple had not seen a Bond film and ‘had no idea how valuable their discovery was.’

The husband intended to fix the car’s dented roof and make some general repairs, but once they loaded the vehicle onto a truck, they were informed by truckers of its Bond film history.

The couple displayed the car at occasional exhibits for over twenty years before deciding to auction it off in 2013.

At RM Sotheby’s, the car was sold to a mysterious buyer, much to everyone’s satisfaction.

It was later revealed that Musk, the visionary who aims to send humans to Mars by 2029, was the one behind the purchase.

Understandably so.