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Author Topic: James Dyson just sold his Singapore penthouse at a massive loss  (Read 823 times)

Offline MVOlga

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James Dyson just sold his Singapore penthouse at a massive loss
« on: October 26, 2020, 05:16:46 PM »
Billionaire James Dyson just sold his Singapore penthouse at a massive loss a year after his company scrapped plans to design an electric vehicle in the city

James Dyson, billionaire inventor of the Dyson vacuum, just sold the largest and most expensive penthouse in Singapore. He's selling the massive penthouse to Indonesian billionaire Leo Koguan for a reported $47 million. Despite the huge price tag, the sale represents a $7 million loss for Dyson, who bought the penthouse in 2019 for $54 million.

The 21,000 square foot residence takes up the top three floors of Guoco Tower, the tallest building in the city, designed by Skidmore, Owings & Merrill.



Dyson is best known for its vacuum cleaners, but last year the company moved to a new Singapore headquarters, which was supposed to be the site of a new electric car project because it was closer to suppliers and Asian markets where it would eventually be sold. It was planned to debut in 2021.

In October 2019, Dyson announced that the electric car project was officially dead. Dyson said that though engineers had developed a "fantastic" car, it was "not commercially viable" and the company could not find a buyer. Now, almost exactly a year later Dyson is losing out on millions in the sale of his penthouse.

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