WeWork IPO reveals company loaned millions to CEO Adam Neumann and other company execs

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

WeWork loaned $7 million to CEO Adam Neumann in 2016, the company revealed in the IPO paperwork it made public on Wednesday.

The loan was made in June of that year, which Neumann paid back in full in cash in November 2017.

The paperwork provided a first glimpse into the company's financials, revealing that it lost $429 million on $436 million in revenue in 2016. It also lost $890 million on $886 million in revenue the following year, and in 2018 it lost $1.6 billion on $1.8 billion in revenue.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Here i believe thats what this says BI

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in AU

Australia Australia Latest News, Australia Australia Headlines