WeWork co-founder Adam Neumann calls company's bankruptcy 'disappointing'

Hours before WeWork filed for Chapter 11 bankruptcy protection on Monday, the company's co-founder and former chief executive, Adam Neumann, weighed in on the expected move, expressing "disappointment." "As the co-founder of WeWork who spent a decade building the business with an amazing team of mission-driven people, the company’s anticipated bankruptcy filing is disappointing," Neumann said in a statement.

Later that year, Neumann was ousted after investors became disenchanted with his exorbitant spending and controversial behavior, but he was handed an enormous golden parachute to leave. WeWork's major backer, Japanese conglomerate SoftBank, took control of the company with a bailout and offered Neumann a nearly $1.7 billion payout that left him with significant stock control.

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Here's how much WeWork co-founder Adam Neumann made before the company's bankruptcyAdam Neumann likely remains a wealthy man despite the collapse of WeWork, which was once the most valuable startup in the United States.
Source: CNBC - 🏆 12. / 72 Read more »