WeWork is about to go public — Here’s how its CEO, Adam Neumann, spends his billions

NEW YORK, NY - APRIL 24: Adam Neumann and Rebekah Neumann attend the 2018 Time 100 Gala at Frederick P. Rose Hall, Jazz at Lincoln Center on April 24, 2018 in New York City.

WeWork CEO Adam Neumann has a net worth of $4.1 billion, according to Forbes.
WeWork’s parent company, The We Company, could file its public IPO paperwork as soon as this week, Bloomberg reported.
Ahead of the IPO, Neumann sold and borrowed $700 million in transactions involving his shares in WeWork, which has a $47 billion valuation, The Wall Street Journal reported.
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, the coworking-space company with a $47 billion valuation, may reveal its public IPO filing as soon as this week, according to Bloomberg.

Under the helm of CEO Adam Neumann, the company confidentially filed initial-public-offering paperwork in December as the We Company, a parent company encompassing WeWork and its other ventures, like WeLive.

Neumann sold and borrowed $700 million in transactions involving his shares in WeWork, The Wall Street Journal reported in July. Besides exercising his stock options and buying more WeWork shares, Neumann has also spent his money buying real estate and investing in startups, also according to the Wall Street Journal.

Here’s what Neumann has been investing in since the success of WeWork:

SEE ALSO: The 18 best perks you get with an Amazon Prime membership

Adam Neumann, WeWork’s cofounder and CEO, has a net worth of $4.1 billion.

Source: Forbes

But he wasn’t always wealthy: Neumann went from broke to billionaire in the past decade.

One of the first businesses he started was Krawlers, which sold baby clothes with knee pads.

“At the time, I was misguided and putting my energy into all the wrong places,” Neumann told Business Insider.

After Neumann met his wife Rebekah, they lived an East Village studio “apartment smaller than this office,” Neumann told Business Insider.

Neuman would go on to set his sights on bigger and better real estate once WeWork became successful.

Sources: Business Insider, Business Insider

Neumann founded his coworking-space company WeWork in 2010.

Nine years later, WeWork has a $47 billion valuation. The company is under the We Company umbrella, which also includes Neumann’s coliving venture, WeLive, and the “conscious entrepreneurial school” WeGrow.

Source: Business Insider

Since founding WeWork, Neumann has spent over $80 million on at least five homes.

Source: Wall Street Journal

In 2012, Neumann bought a house in the Hamptons for over $1.7 million

Sources: Bisnow, Vanity Fair

In 2014, Newman bought a Greenwich Village townhouse in New York City for $10.5 million.

Located in Greenwhich Village, the property is under 23-feet wide. At the time it was bought, the townhouse had six bedrooms and five and a half bathrooms. The townhouse was erected in 1847.

Source: The Real Deal

In 2016, Neumann purchased a farm estate in Westchester, New York

The Linden Farm estate in Pound Ridge sprawls 60 acres. At the time of purchase, the property included: a more than 13,700 square foot, eight bedroom, eight bathroom house; a horse stable and ring …read more

Source:: Businessinsider – Tech


(Visited 5 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *