"Henrik Fisker, the founder of failed EV startup Fisker Inc., and his wife Geeta quietly wound down a private charitable foundation established in late 2021 that was supposed to "incubate innovation in healthcare, education, sustainability, mobility, and all causes that help support the planet and improve and further the lives of people and animals." A tax filing submitted to the Internal Revenue Service in December 2024 - six months after Fisker Inc. went bankrupt - was marked as the foundation's "final return.""
"When Rivian went public via a traditional IPO in 2021, it announced its own foundation, flush with 1% of the EV company's equity. While that stake was worth around $643 million at one point, it eventually shrank to under $100 million. But the Rivian Foundation is still kicking. The nonprofit gave out its first $10 million in grants last year, and its website shows that the foundation has made another $2.2 million in donations to date across 2025."
Henrik and Geeta Fisker established a private charitable foundation in late 2021 and transferred 229,000 shares of Fisker Inc. stock valued at about $4 million, plus roughly $5,000 cash, to the nonprofit. The Geeta & Henrik Fisker Foundation ultimately operated for three years and distributed approximately $100,000 in grants before a tax filing in December 2024 was marked as the foundation's final return. Fisker Inc. filed for bankruptcy six months before that final return. The foundation’s brief activity contrasts with other EV-linked foundations such as Rivian’s, which has continued grantmaking after receiving equity.
Read at TechCrunch
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