The unusual move is raising questions as to whether Neumann is skeptical of WeWork’s long-term prospects, or overly optimistic about its future
Neumann’s cash-grab could add to those concerns. The 40-year-old investor has been spending big in the last few years, as the. In the last few years he’s purchased a $28 million penthouse in New York City’s Gramercy Park, an $11 million townhouse in West Village, a large Westchester farm valued at $15 million, and a nearly $2 million house in the Hamptons. Neumann toldthat his WeWork stock “makes so much more money than any investment I could do.
Neumann and sources close to him insist he’s not sitting atop a house of cards. Yet critics have long said the company is vastly over-valued, raising concerns as to what may happen when it eventually hits the market. “If you had positioned this as a real estate company, it wouldn’t be worth this,”in 2017. “[Neumann] dressed it up and made it into a community, and that turned it into a tech play.”
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