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Adam Neumann, the Co-Founder of WeWork Manages to Remain Really Wealthy After Being Dumped as CEO

Having a regular design for your workplace for a year-long can really be tiring. Don’t you agree with me? To give your workplace a sophisticated and comforting look, the WeWork real estate company was launched in 2010. The company offered some of its original and authentic products like swanky co-working spaces, boasting stylish furniture, beer on tap, and piping pong tables galore.

The services and products of the company stole the attention of some millennial workers who might have been either looking for their startup or who have been looking forth for networking opportunities in some renowned industries. Meeting the standard of its customers, helped WeWork to succeed in a very small span of time. The company expanded to every corner of the world, in fact, was successful enough to make some multi-billion-dollar valuation. Unfortunately, WeWork had to witness a dramatic downfall one day.

Are you curious to know what must have happened that led to its untimely closure? No worries! New Hulu documentary work will present to you the journey of WeWork through its piece of art We Work: Or The Making and Braking of a $47 Billion Unicorn. This documentary will narrate to you the journey of WeWork, how it went from being an overvalued company to a premature downfall. It will also throw light upon the details of the downfall of its co-founder, Adam Neumann.

Speaking of WeWork, don’t you all wonder what Neumann must be doing now? This article will brief you regarding the whereabouts of Neumann’s life. So read this article to know more.

WeWork Co-founder Adam Neumann Is Still Really, Really Rich - Flipboard

Background

Neumann was born in Israel in the year 1979. He was only 7 years old when his parents decided to part ways. With their divorce, Neumann, as a child had to spend time in a communal kibbutz environment. The child survived dyslexia and it was only during his third grade that he learnt to read and write.  Breaking off all barriers, Neumann went about to attend Bruch College in New York City in 2001. He started his career as an entrepreneur. His first startup was on shoes. He made the shoes and knee pads for babies. However, in no time this business fell apart. Following this failed business, he went about to launch his WeWork with his co-founder Miquel McKelvey.

Briefing of Hulu’s Documentary

Director: Jed Rothstein

This documentary illustrated the tenure of Neumann as a co-founder at WeWork. You will see how the management styles adopted Neumann resulted troublesome for the company including messing up with financial decisions. From New York Times report you will also learn how Neumann convinced his employees to work for 20 hours a day, attend 2 a.m. meetings. To your surprise, the report also states that he used to convince his employees to smoke marijuana at work, during excursion made the employees smoke more pot and drink more tequila.

It was only after the advance announcement of the finances of the company in front of the public, that the investors and journalists learnt for the first time how the company was misusing the money and how many of Neumann’s decisions were questionable. Following this shocking disclosure of Neumann’s irresponsibility and mismanagement, Neumann was asked to resign from CEO in 2019. Ever since then, he hasn’t returned back.

Is Neumann still rich?

Irrespective of him stepping down as CEO, I must say, Neumann, is still very very rich. How? Do you want to know? Well, he left WeWork with $1.7 billion payouts! Yes, you heard it right, 1.7 billion dollars. And it doesn’t end here. Recently, i.e in February 2021, the ongoing negotiations with the SoftBank who used to be an investor at WeWork has been able to give him another $50 million payment. Wait, it doesn’t here either! According to the reports from Wall Street Journal, Neumann still holds stock worth #2 billion for the company, WeWork. All the best with mathematics!

Over the past few years, news about Neumann selling off his real estate for multi-millions as well as selling off his homes is persisting in the country. He escaped to Israel with his wife, Rebekah Paltrow Neumann, after the disclosure of the finances of WeWork. However, now he has returned back to the U.S.

Well, now they are engaged in launching WeGrow, which is a private school. This school aims at launching an educational arm of the We brand. In fact, Forbes has reported that his wife Rebekah wanted to relaunch WeGrow as Student of Life For Life, however, there is no further information regarding the update of this project. In October 2020, Neumann was seen explaining to CNN about his investment in a startup that is engaged in providing services to residents in the residential buildings in Alfred.

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