---
title: "Billionaire Lawrence Stroll Rescues Aston Martin With $657M Bailout"
description: "It's good to be rich."
date: "2020-01-31"
modified: "2020-01-31"
authors:
  - name: "Chris Tsui"
    job_title: "Contributor"
    link: "https://www.thedrive.com/authors/chris-tsui"
url: "https://www.thedrive.com/news/32035/billionaire-lawrence-stroll-rescues-aston-martin-with-657m-bailout"
categories:
  - "Aston Martin News"
  - "News"
  - "News by Brand"
tags:
  - "Aston Martin"
---

# Billionaire Lawrence Stroll Rescues Aston Martin With $657M Bailout

![](<https://www.thedrive.com/wp-content/uploads/images-by-url-td/content/2020/01/GettyImages-52263478-e1580483150869.jpg>)
*\<em\>www.thedrive.com</em>*

Confirmed by a London Stock Exchange filing on Friday morning, a group of investors led by Canadian billionaire, fashion tycoon, and Racing Point Formula 1 team owner [Lawrence Stroll](<https://www.thedrive.com/news/31335/aston-martin-to-be-purchased-by-billionaire-businessman-lawrence-stroll-report>) just took a 16.7% stake in Aston Martin for the British equivalent of approximately $239 million. The group beat out Geely, the Chinese automaker that also owns Volvo and Lotus, in buying a chunk of the British luxury automaker, reports [*Autocar*](<https://www.autocar.co.uk/car-news/industry/billionaire-stroll-takes-major-stake-aston-martin>).

The investment comes as a financial relief to Aston after the company experienced "the disappointing performance of the business through 2019." In 2018, [Aston Martin](<https://www.thedrive.com/news/31120/the-aston-martin-dbx-is-a-modern-british-sports-car-reborn-as-an-suv>) was valued at almost $6 billion whereas today, it's only worth a little over $1.3 billion. Friday's transaction also involved a cash infusion of $418 million from Stroll for a total financial boost of approximately $657 million (or, as a round number, 500 million British pounds).

Stroll will join the company as chairman while [Andy Palmer](<https://www.thedrive.com/news/28743/the-drive-interview-aston-martin-ceo-dr-andy-palmer>) will stay on as CEO. Cost-cutting to the tune of $13 million per year and personnel shakeups are expected, with the company issuing a [press release](<https://media.astonmartin.com/strongaston-martin-makes-key-technical-sales-and-marketing-appointmentsstrong-nbsp/>) on Friday appointing new heads for its technical, sales, and marketing departments as well as moving the president of its American arm to its Executive Committee.

![message-editor%2F1580483567440-gettyimages-11288370801.jpg](<https://www.thedrive.com/wp-content/uploads/content-b/message-editor/1580483567440-gettyimages-11288370801.jpg>)
*Aston Martin Valkyrie, *Getty Images**

What does this all mean for the brand? Well, for starters, the Stroll-owned Racing Point F1 team (previously SportPesa, previously Force India, previously something else...) will be known as Aston Martin F1 starting in 2021. Aston Martin's road car strategy will undergo a rejig as well. The upcoming relaunch of its ultra-luxury Lagonda sub-brand and the company's first electric cars have been delayed until after 2025 while the electric Rapide E project has been "paused pending a review."

AM will collaborate with Red Bull Advanced Technologies until the [1,160-hp Valkyrie hypercar](<https://www.thedrive.com/news/31506/watch-the-aston-martin-valkyrie-shout-in-anger-from-its-cockpit>) comes out this year but whether or not the two companies will continue to work together beyond this—including final development on the [Valhalla](<https://www.thedrive.com/news/28578/aston-martin-valhalla-hybrid-hypercar-valkyries-baby-brother-finally-gets-a-name>) set to release in 2022—is up in the air. Post-Valhalla, Aston is scheduled to deliver a new, mid-engined Vanquish as well as a "fuel-efficient, modular V6 engine with hybrid capabilities."

*The Drive* reached out to Aston Martin for details and we will update this story when we hear back.

*Got a tip? Send us a note: tips@thedrive.com*

## Author
Chris Tsui is *The Drive*'s former Reviews Editor and current freelance automotive journalist. He's based in Toronto.

### Author social links  
[Instagram](<https://www.instagram.com/cltsuii/>)