Once valued at $47 billion, with its sights set on “elevating the world’s consciousness,” office rental company WeWork will go public Thursday at a more muted $9 billion valuation. That’s got to be underwhelming for the investors who pumped $12.7 billion into the business as it ballooned to become one of the world’s most valuable startups. But there’s one player making out big time: Adam Neumann, the ousted cofounder whose conduct as CEO helped crash the company’s first IPO attempt .
In the years leading up to the planned 2019 IPO, Neumann and cofounder Miguel McKelvey sold nearly $500 million worth of the company’s shares, according to the 2021 book “The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion”; In April 2020, WeWork investor SoftBank terminated its offer to buy $3 billion worth of WeWork shares—including nearly $1 billion of shares from Neumann—citing into WeWork’s governance issues.
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WeWork’s Ousted Cofounder Adam Neumann Regains Billionaire Status As Company Goes Public Via SPACChastened cofounder Neumann—no longer an executive at WeWork—retained a stake in the office rental company and has received fat separation payouts. Who in their right mind would buy stock in this company
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WeWork’s Ousted Cofounder Adam Neumann Regains Billionaire Status As Company Goes Public Via SPACChastened cofounder Neumann—no longer an executive at WeWork—retained a stake in the office rental company and has received fat separation payouts. The Best thing for $WE now is to distance themselves as much as possible from Neuman Only the non-ginger buns are supposed to be gaining billionaire status these days
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WeWork debuts on the public markets after SPAC merger, stock up in early tradingThe office-leasing company halted initial plans for an IPO in 2019 after investors raised concerns over its business model and then-CEO Adam Neumann.
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WeWork shares jump more than 13% in public markets debut after SPAC mergerWeWork made its public debut today through a SPAC merger, more than 2 years after its failed IPO. 'This company is here, it's stronger than ever, and no doubt that we’re going to be celebrating many more milestones,' Executive Chairman Marcelo Claure said.
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Shares Of SPAC Behind Trump Social Media Company Jump 295%Trump unveiled plans for a new social media company called 'TRUTH Social' on Wednesday. Trump selling naked unregistered shares in $DWAC bout now... Buy $DRV end the fraud 🤥🤥🤥
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