- Henrik Fisker, CEO of Fisker Inc., is selling his home in the Hollywood Hills for $35 million.
- Based on its share price, Fisker Inc. is now worth less than $27 million.
- Fisker’s home has six bedrooms, eight bathrooms and a three-car garage equipped with elevators so it can actually accommodate six vehicles.
They say 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.
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As of this writing, the troubled automaker’s stock is valued at just over 5 cents per share, meaning it has a market cap (the total value of each available share of a company) of $26.8 million. This low valuation is the result of a turbulent start to 2024 that saw the company’s stock plunge more than 96 percent.
Read: Facing bankruptcy after missing $8.4 million payment, Fisker hires restructuring agent
In contrast, the house has increased in value in recent years. When Henrik and Geeta Gupta-Fisker, his wife and co-founder of Fisker, bought the home in 2021, they paid $21.8 million for it, Autonews reports. If they get their asking price, the couple’s home will have increased in value by 61 percent over the past three years.
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Located in the Hollywood Hills, the attractive, modern home offers views of two types of oceans, the Pacific and the Fisker. It also has six bedrooms, eight bathrooms and a retractable glass wall that opens to the outdoors, blurring “the boundaries between indoor and outdoor living space,” according to the property listing.
The house also has a large balcony, a swimming pool, a spa and a three-car garage that can even accommodate six vehicles thanks to hydraulic elevators. There is a total living space of 11,800 square meters.
Although it’s not clear why the Fiskers are selling their home, their business desperately needs money. Withering reviews and buyer complaints have caused Fisker Ocean’s backlog to shrink in recent months. That weighed on cash flow, and earlier this month the automaker announced that it may have to file for bankruptcy very soon if it doesn’t get debt relief.
Henrik Fisker reportedly recently met with executives from four established automakers to negotiate a possible takeover, but details were not released.
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