Neumann has spent $80 million on five or more homes since founding WeWork in 2010. His latest purchase: a $21 million home in the Bay Area.
WeWork CEO Adam Neumann has a net worth of $4.1 billion, according to Forbes. Neumann sold and borrowed $700 million in transactions involving his shares in WeWork, which has a $47 billion valuation and is planning an IPO, The Wall Street Journal reported on Thursday. Neumann has spent $80 million on at least five homes since founding WeWork in 2010, according to the Wall Street Journal. Visit Business Insider's homepage for more stories.
WeWork CEO Adam Neumann has a net worth of $4.1 billion, according to Forbes. Neumann sold and borrowed $700 million in transactions involving his shares in WeWork, which has a $47 billion valuation and is planning an IPO, The Wall Street Journal reported on Thursday. Neumann has spent $80 million on at least five homes since founding WeWork in 2010, according to the Wall Street Journal. Visit Business Insider's homepage for more stories.
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WeWork cofounder and CEO Adam Neumann reportedly sold shares he owned in the company and took loans worth $700 million ahead of planned public offeringAdam Neumann reportedly sold some of his stock during financing rounds and also borrowed against his shares.
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WeWork Co-Founder Has Cashed Out at Least $700 Million From the CompanyAdam Neumann, co-founder and largest shareholder of WeWork Cos., has cashed out more than $700 million from the company ahead of its initial public offering through a mix of stock sales and debt, people familiar with the matter say.
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WeWork CEO Neumann's $700 million cash-out says a lot about how the massive influx in venture capital has changed the marketInvestors have been pouring money into more mature startups. In some cases, they're encouraging founders to sell some of their stakes.
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Adam Neumann Cashes Out More Than $700 Million Ahead of WeWork IPOThe unusual move is raising questions as to whether Neumann is skeptical of WeWork’s long-term prospects, or overly optimistic about its future.
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