In a twist that might make you chuckle (or cringe if you’re an investor), Henrik Fisker, the visionary behind the automaker Fisker Inc., is selling his ultra-modern mansion for a whopping $35 million. Yes, that’s right—a single family home (albeit fancy) potentially fetching more than the current market value of the entire company, which stands at a modest ~$30 million.
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Luxury Living in the Hollywood Hills
Fisker’s residence isn’t just a house; it’s a sprawling 11,800-square-foot testament to luxury. Yes, you read that right, almost 12,000 square feet. Boasting six bedrooms, eight bathrooms, an indoor spa, sauna, fitness center, and an infinity pool, this place screams opulence. And let’s not forget the 20-foot high, three-car garage equipped with a hydraulic lift system capable of accommodating six vehicles.
Located to maximize jaw-dropping views from Downtown LA to the Pacific Ocean, this estate epitomizes the pinnacle of high-end living. The real estate listing describes it as a place “Perched to capture one of the Hollywood Hills’ most breathtaking panoramic views, this sophisticated and elegant compound epitomizes luxury living at its finest.” Indeed, the only thing more explosive than those views might be the automakers financials.
Why Sell Such a Gem?
The reasons behind selling such a stunner are up for speculation. However, Fisker Inc.’s recent struggles provide a possible hint. The electric vehicle maker has been on the financial ropes, with bankruptcy murmurs if debt relief doesn’t come through. Perhaps Fisker is looking to convert his concrete assets into liquid capital to keep his company’s wheels spinning.
It’s been a rough ride for Fisker Inc. With its market cap dwindling to the price of a multi-millionaire’s shopping spree, the company was delisted from the New York Stock Exchange after a dramatic 96% stock price plummet early in 2024. The company, known for its all-electric crossover SUV, the Fisker Ocean, has faced tough reviews and tougher market reactions.
The vehicle designed to rival the likes of Tesla Model Y has not exactly been sailing on smooth waters. It seems like the only ocean views Fisker will be enjoying are the ones from his soon-to-be-sold mansion. The Fisker Ocean’s journey has been anything but smooth sailing, with customer complaints and shrinking order books making waves. Some reports are saying that 4,700 Ocean’s were delivered last year.
A Mansion That Outvalues the Company
It’s somewhat ironic that the mansion’s asking price is $8 million more than Fisker Inc.’s entire market value. Purchased in 2021 for $21.8 million by Henrik and his wife, Geeta Gupta-Fisker, the home’s value has apparently appreciated by 61% in just three years.
For those who can’t commit to buying, the mansion is also up for grabs at $125,000 per month in rent. That’s right, for the low, low price of an average person’s annual salary, you can live in luxury for a month! Alternatively you could buy a small fleet of Fisker Ocean’s as the base model MSRP is now $24,999.
A High-Value Home for a High-Stakes Life
The mansion’s panoramic views might serve as a metaphor for Fisker’s need to keep an eye on the broader horizon. With recent reports suggesting Fisker met with executives from veteran automakers to discuss a potential buyout, it seems Henrik might be eyeing a lifeline or an exit strategy.
As Fisker Inc. navigates through turbulent financial waters, its CEO’s real estate venture might just be the lifeboat he needs. Or perhaps it’s a sign that when it comes to investments, sometimes the best assets don’t have wheels.
So, if you’re in the market for a multi-million dollar home or just enjoy a good tale of corporate irony, Henrik Fisker’s real estate move is a story worth watching. Who knows? Maybe this house sale will be what it takes to keep Fisker Inc. afloat. After all, in the world of business and luxury real estate, stranger things have happened.
