Getty / Scott Olson A billionaire investor dubbed "the next Warren Buffett" slammed WeWork in a private annual letter to clients. Baupost Group CEO Seth Klarman blasted cofounder and ex-CEO Adam Neumann's $1.7 billion golden parachute as the "epitome of capitalist excess." "WeWork was a prosaic operating business which was branded as a VC-backed, technology-empowered, futuristic innovator with boundless possibilities," Klarman said. The coworking startup was ultimately sunk by the "hard truths of business fundamentals," he said. Visit Business Insider's homepage for more stories. A billionaire investor dubbed "the next Warren Buffett" tore into WeWork in his private annual letter to clients. The coworking startup, which spectacularly imploded last year, is "a reminder of how quickly the lessons of prior financial bubbles can be forgotten," Baupost Group CEO Seth Klarman said in the letter, which was viewed by Business Insider.See the rest of the story at Business InsiderNOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruptionSee Also:The deadly virus sweeping across China could slash its economic growth, S&P warnsJim Osman is an expert at picking stocks set to surge for abnormal reasons.

NEXT
BING NEWS:
  • Billionaire investor David Einhorn shares an overlooked theory for why gold prices have spiked so much
    To explain the strong run for gold, billionaire investor David Einhorn offered a potential theory in his latest letter to investors ... precious metal as a stable store of value and as a way ...
    04/28/2024 - 2:28 pm | View Link
  • Billionaire Investor Bill Ackman Has 100% of His $11 Billion Portfolio in Just 8 Stocks
    The activist investor made his fortune by acquiring sizable ... Ackman highlighted Chipotle's same-store sales that jumped 8% and margin expansion of 26% as fueling his confidence that Chipotle ...
    04/27/2024 - 4:50 pm | View Link
  • Billionaire Investor David Einhorn Is Betting 29% of His Entire Portfolio on This 1 Stock
    David Einhorn is known for his big bets. It's a strategy that helped make him a billionaire. One of his largest bets right now is Green Brick Partners (NYSE: GRBK). Einhorn's investment company ...
    04/22/2024 - 3:20 am | View Link
  • Billionaire Warren Buffett Has 50% of the Berkshire Hathaway Portfolio in 1 Stock
    Fool.com contributor Parkev Tatevosian discusses why he thinks Warren Buffett owns such a concentrated ... advocates tirelessly for the individual investor. The company's name was taken from ...
    04/21/2024 - 10:14 pm | View Link
  • This Billionaire Warren Buffett Disciple Has 70% of His American Portfolio in Just 2 Stocks
    Many people try to emulate Warren ... happens to be someone that Buffett's right-hand man Charlie Munger entrusted his savings to: Li Lu. The Chinese-born value investor runs a fund called ...
    04/18/2024 - 6:20 pm | View Link
  • More

 

NEXT
Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

Movies With Butter More Movie News

More Business News