Business Maverick: WeWork’s Adam Neumann Is in the Race of His Life as His Fortune Sinks with the IPO

But by the time the company’s Gulfstream G-6 touched down outside New York late Tuesday night, the grandiose ambitions of Adam Neumann, the company’s brash co-founder and pitchman, remained poised on a knife’s edge. His own fortune, while still enviable, was rapidly slipping away.

At the same time, WeWork is considering changing various corporate governance practices, according to people with knowledge of the situation.With so much up in the air, WeWork planned to hold a town hall-style meeting for employees at its New York headquarters on Thursday. But executives called off the event, citing scheduling conflicts, according to a person with knowledge of the matter.

He also has been criticized for borrowing the firm’s money, leasing properties he owns back to the company and selling chunks of equity ahead of the planned IPO. The firm rents space in four buildings owned by Neumann, according to the prospectus. It signed a lease on three of them the day he obtained his stake, and committed to being a tenant in them within the next year.

Still, that’s nothing to sneeze at, particularly for someone who spent part of his childhood on a kibbutz. Neumann moved to New York from Israel in 2001 to have fun and make a lot of money, as he put it in a commencement address at Baruch College, his alma mater. Then he met Rebekah, his future wife, who’s listed in a prospectus as a co-founder, chief brand and impact officer, and a “strategic thought partner.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

BUSINESS MAVERICK: Business confidence is in (extremely) short supplyMisery, it is often said, is a communicable disease. And so it is turning out for business confidence. Depression is feeding on itself, and that showed up on Wednesday 11 September in not one but two business confidence indices, which show pessimism is now at levels not seen in decades.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »

BUSINESS MAVERICK OP-ED: Outgoing European Central Bank chief’s dangerous farewellMario Draghi risks deepening the eurozone’s problems in the final weeks of his eight-year term as president of the European Central Bank. He has promised that the bank will reduce interest rates further to spur the eurozone economy. But policymakers have room for only modest rate cuts, which will do little to boost growth – and will put potentially intolerable pressure on the eurozone’s fragile banks.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »

BUSINESS MAVERICK ANALYSIS: Emerging markets given a reprieve ahead of central bank meetingsEmerging markets, including South Africa, have been lifted by the tentative return of risk appetite to global financial markets. But much will depend on developed market central bank monetary policy moves over the next couple of weeks. With expectations high, they have a lot to deliver if they don’t want to disappoint.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »

Business Maverick: South Korea’s Unemployment Rate the Lowest Since 2013South Korea’s unemployment rate plummeted to the lowest level in nearly six years in August, a rare positive sign for an economy facing headwinds from weak global demand.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »