Henrik Fisker sells his home for $35 million, but his company is worth just $27 million
April 29, 2024 at 16:29
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- Fisker Inc. CEO Henrik Fisker is selling his home in the Hollywood Hills for $35 million.
- Based on its share price, Fisker Inc. is worth less than $27 million today.
- Fisker’s home has six bedrooms, eight bathrooms, and a three-car garage equipped with lifts, so that it can actually store six vehicles.
They say that real estate is a safe investment, and Henrik Fisker is living proof. The billionaire is selling his Los Angeles home for $35 million, $8 million more than his company, Fisker Inc., is currently worth.
As this is written, the troubled automaker’s stock is valued at just a little over 5 cents per share, which means it has a market capitalization (the total value of every available share in a company) of $26.8 million. That low valuation comes as a result of a tumultuous start to 2024, which saw its stock fall by more than 96 percent.
Read: Fisker Faces Bankruptcy After Missing $8.4M Payment, Hires Restructuring Officer
By contrast, the house has increased in value in recent years. When Henrik and Geeta Gupta-Fisker, his wife and Fisker cofounder, bought the house in 2021, they paid $21.8 million for it, reports Autonews. If they get their asking price, the value of the couple’s house will have increased by 61 percent over the last three years.
The attractive, modern house is located in the Hollywood Hills, and can offer views of two kinds of Ocean, the Pacific and the Fisker. It also has six bedrooms, eight bathrooms, and a retractable glass wall that opens onto the outdoor space, blurring “the lines between indoor and outdoor living space,” per the real estate listing.
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The house also has a vast balcony, a swimming pool, a spa, and a three-car garage that can actually store six vehicles, thanks to hydraulic lifts. In all, there are 11,800 square-feet of living space.
While it is not clear why the Fiskers are selling their home, their company is in desperate need of money. Scathing reviews and buyer complaints have caused order banks of the Fisker Ocean to shrink in recent months. That hurt cash flow and, earlier this month, the automaker revealed that it may have to file for bankruptcy very soon if it doesn’t receive debt relief.
Reports indicate that Henrik Fisker recently met with executives at four established automakers to negotiate a possible buyout, although no details have been made public.
