Cash-Strapped Fisker's CEO Lists Luxurious Hollywood Mansion For More Than Company's Worth As Bankruptcy Looms

Beleaguered EV maker Fisker Inc‘s FSRN CEO Henrik Fisker has put his Hollywood home on the market for an amount surpassing his EV company’s current market cap.

What Happened: As per a real estate listing, the house in Los Angeles has 11,800 square feet of living space, 6 beds, 8 baths, and offers a “quintessential Southern California living experience.”

It is currently listed for a purchase price of $35 million.

“Perched to capture one of the Hollywood Hills’ most breathtaking panoramic views, this sophisticated and elegant compound epitomizes luxury living at its finest. Encompassing an expansive 11,800 sqft of living space and surrounded by explosive views spanning from Downtown Los Angeles to the Pacific Ocean, the estate boasts 6 bedrooms, 8 bathrooms, and every world-class amenity desirable,” the listing reads.

The house includes amenities like central air conditioning, central heating, an infinity-edge pool, a fitness center, a wine cellar, and a spa complete with a sauna encased in salt walls. The 20-foot, 3-car garage, meanwhile, is equipped to hold 6 vehicles with a lift.

According to Automotive News, the house was built in 2015 and bought by Fisker and his wife and company CFO Geeta Fisker in 2021 for $21.8 million.

Why It Matters: The couple’s decision to sell the mansion comes at a time when Fisker is facing financial challenges. Last week, the company said in a filing that it expects to seek protection under bankruptcy laws within 30 days if unable to receive waivers from its debt holders or raise enough capital to settle its dues.

Fisker in February warned that it may not have enough funds to operate over the year. The company's shares were delisted from the New York Stock Exchange the following month owing to low share prices and the company has been grappling to both preserve and raise capital since. The company has also appointed a chief restricting officer to explore strategic alternatives.

Currently, Fisker has a market capitalization of just $26.17 million.

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Photo courtesy: Eric Graciano on Wikimedia