After erasing more than $30 billion in projected shareholder value, Adam Neumann could walk away from the We Company with a windfall of as much as $1.7 billion, according to a report in The Wall Street Journal. This is how the company will end, not with the pop of a successful public offering, but with a whimper from defeated investors probably tired after the months-long saga of trying to make sense of how a clever real estate plan ballooned into one of the greatest swindles in venture capital history. Already ousted as the company’s chief executive, Neumann controlled shares of the company that gave him what amounted to significant control even after his removal. The We Company drama has it all.
Comment on SoftBank reportedly ends WeWork ownership debacle with a potential $1.7 billion windfall for Adam Neumann
Jonathan Shieber, TechCrunch
Tue, 10/22/2019 - 1:42pm
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