Three years ago the world’s poorest billionaire, Lawrence Stroll, parachuted into Aston Martin’s HQ on a rescue mission to save the iconic luxury sports car maker from near bankruptcy. After making major investments, Aston Martin remains on a perilous tightrope, sleepwalking between profitability and bankruptcy while nursing a $1BN debt. Three years before, the world’s poorest billionaire, Lawrence Stroll, bought the Formula One team formerly known as Force India.
Force India eventually rebrands into Aston Martin in 2020 and the world’s poorest billionaire, Lawrence Stroll, pumps $255 million USD into the Silverstone based outfit. The funds will go towards building a new wind tunnel facility and a brand-new F1 factory that is expected to be completed by the end of the year.
And to give the world’s poorest billionaire, Lawrence Stroll, some credit, Aston Martin F1 has seen an upturn in performance this season with Fernando Alonso leading the team. Aston Martin currently sits third in the constructor’s and drivers championship with Alonso securing six podiums.
But the story takes a somewhat inconclusive turn when the world’s poorest billionaire, Lawrence Stroll, recently declared he should be knighted for services to his ego. During a recent media interview, the world’s poorest billionaire said:
“I should be knighted for what I’ve done. I’ve saved thousands of jobs and built a new Formula 1 factory with hundreds of millions of investments. The investment is staggering.”
At this point, I would like to interject. The road car division is evidence of Aston Martin’s true situation. The DB 11-B which is being marketed as the “all new DB 12” highlights the current investment is not nearly enough. What happens To the F1 team if the road car division goes belly up?
Nevertheless, the world’s poorest billionaire, Lawrence Stroll, also said:
“I said, when I took over as chairman of Aston Martin for [fiscal year] ’24–’25, I wanna be at $2 billion of sales, $500 million of EBIDA (earnings before interest, taxes, depreciation and amortization), and about 9–10,000 cars. Well, we’re on our way to hit that; we’re ahead of those projections I gave three years ago. Well ahead of them.”
It should be noted, Aston Martin sold 6400 cars in 2022. Yet Stroll wasn’t finished,he continued:
“There’s no end that seems to be too high for an Aston Martin, it’s a huge show of my belief in the company… One doesn’t put that money into a business they don’t believe in the future of.”