He came close but did not achieve his goal of climbing the highest mountain on all seven continents; only Mount Everest eluded him, as bad weather forced his party to give up one day before reaching the summit. At the Matterhorn Bobsleds ride at Disneyland in Anaheim, Wells is honoured with skiing expedition boxes littered about the scenery emblazoned with 'Wells Expedition', honouring his love of climbing mountains.
Wells died in a helicopter crash at age 62 while returning from a ski trip in Nevada's Ruby Mountains. The movie The Lion King, which came out the summer following Wells' death, is dedicated to him. There is also a building named in his honor at the Walt Disney Studios. It houses the Disney Archives.