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.

BING NEWS:
  • SoftBank Finally Wipes Out $14B WeWork Losses As It Posts $6.6B Profit Riding On Tech Rebound And T-Mobile Shares
    In a recent turn of events, SoftBank Group Corp (OTC:SFTBY) declared its entire investment in WeWork as a loss. This announcement comes despite SoftBank’s first profitable quarter in five.
    02/8/2024 - 12:04 am | View Link
  • SoftBank gets $7.6 billion T-Mobile stake windfall, shares soar
    TOKYO (Reuters) -SoftBank Group Corp said it would receive shares in telco T-Mobile US worth some $7.59 billion at no additional ... of office-sharing firm WeWork, which was once the most valuable ...
    12/26/2023 - 10:38 pm | View Link
  • SoftBank Posts $6.2 Billion Loss After WeWork Bankruptcy
    The Japanese investment company’s cumulative losses in WeWork total $14.3 billion. “We need to accept this reality and learn a lesson from this for our future investment activity,” Chief ...
    11/8/2023 - 10:32 pm | View Link
  • WeWork accepts multi-billion-dollar Softbank rescue deal
    WeWork has been thrown a multi-billion-dollar lifeline from Softbank ... office-space sharing start-up to roughly 80%. Co-founder Adam Neumann will leave the board but retain "observer" status.
    10/21/2019 - 1:00 pm | View Link
  • More

 

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

More Business News