Adam Neumann
Co-founder and former CEO of WeWork, known for aggressive business expansion strategies and an unconventional entrepreneurial philosophy. He brought the shared office space concept to global prominence but resigned in 2019 amid concerns over corporate governance practices.
Timeline (last 90 days)
After leaving WeWork, Neumann founded the residential rental company Flow, which raised approximately $350 million in a SoftBank-led funding round in 2022.
Neumann held super-voting shares in WeWork, making it nearly impossible for ordinary investors to check management's decisions.
Neumann stated that WeWork's business grew faster than his own personal growth, which he identified as the fundamental cause of the failure.
Neumann insisted that he voluntarily resigned as CEO, rather than being fired as reported by The Wall Street Journal.
Neumann claimed that 95% of what he did at WeWork was right, and only 5% was wrong.
SoftBank led the rescue plan after the failed IPO, injecting an additional approximately $9.5 billion into WeWork, with one of the conditions being Neumann's resignation as CEO.
When Neumann left WeWork, he received a combined compensation package of approximately $1.7 billion, including advisory fees, equity buybacks, and loan forgiveness.
WeWork's prospectus disclosed that Neumann had registered the word 'We' as a trademark and sold it back to the company, a claim Neumann denied in an interview.
In 2010, Adam Neumann and his partner Miguel McKelvey conceived the ecosystem of WeWork, WeLive, WeGive, and WeShare.
At the time of his resignation as CEO, Neumann held super-voting rights of 5-to-1.
4 more timeline events
All Facts (14)
After leaving WeWork, Neumann founded the residential rental company Flow, which raised approximately $350 million in a SoftBank-led funding round in 2022.
50%UnverifiedNeumann held super-voting shares in WeWork, making it nearly impossible for ordinary investors to check management's decisions.
50%UnverifiedNeumann stated that WeWork's business grew faster than his own personal growth, which he identified as the fundamental cause of the failure.
50%UnverifiedNeumann insisted that he voluntarily resigned as CEO, rather than being fired as reported by The Wall Street Journal.
50%UnverifiedNeumann claimed that 95% of what he did at WeWork was right, and only 5% was wrong.
50%UnverifiedSoftBank led the rescue plan after the failed IPO, injecting an additional approximately $9.5 billion into WeWork, with one of the conditions being Neumann's resignation as CEO.
50%UnverifiedWhen Neumann left WeWork, he received a combined compensation package of approximately $1.7 billion, including advisory fees, equity buybacks, and loan forgiveness.
50%UnverifiedWeWork's prospectus disclosed that Neumann had registered the word 'We' as a trademark and sold it back to the company, a claim Neumann denied in an interview.
50%UnverifiedIn 2010, Adam Neumann and his partner Miguel McKelvey conceived the ecosystem of WeWork, WeLive, WeGive, and WeShare.
50%UnverifiedAt the time of his resignation as CEO, Neumann held super-voting rights of 5-to-1.
50%UnverifiedNeumann now runs a new company called Flow, which received a combined $470 million in Series A and Series B funding led by a16z's Marc Andreessen and Ben Horowitz.
50%UnverifiedWithin one week, Adam Neumann went from being the CEO managing 13,000 employees to having only 3 employees left.
50%UnverifiedAfter Neumann resigned, banks sent legal notices demanding repayment of $460 million in personal debt within 15 days due to a breach triggered by the change of control.
50%UnverifiedSalesforce founder Marc Benioff once advised Neumann to reject Masayoshi Son and go public at a $5 billion valuation.
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