- WeWorkCEO Adam Neumann has a net worth of $US4.1 billion, according to Forbes.
- WeWork’s parent company, The We Company, filed its public IPO paperwork in August.
- Ahead of the IPO, Neumann sold and borrowed $US700 million in transactions involving his shares in WeWork, which was last valued at $US47 billion, The Wall Street Journal reported.
- The Wall Street Journal and Bloomberg reported on Thursday that The We Company is now considering a valuation of around $US20 billion for its IPO, and may delay the IPO to 2020.
- Neumann has spent $US80 million on at least five homes since founding WeWork in 2010, according to the Wall Street Journal.
- Visit Business Insider’s homepage for more stories.
Under the helm of CEO Adam Neumann, the company confidentially filed initial-public-offering paperwork in December as The We Company, a parent company encompassing WeWork and its other ventures, like WeLive.
Neumann sold and borrowed $US700 million in transactions involving his shares in WeWork, The Wall Street Journal reported in July. Besides exercising his stock options and buying more WeWork shares, Neumann has also spent his money buying real estate and investing in startups, also according to the Wall Street Journal.
WeWork’s public IPO filing discloses that Neumann did not take a salary in 2018 and was only paid $US1 in 2017.
Here’s what Neumann has been investing in:
Adam Neumann, WeWork’s cofounder and CEO, has a net worth of $US4.1 billion.
But he wasn’t always wealthy: Neumann went from broke to billionaire in the past decade.
One of the first businesses he started was Krawlers, which sold baby clothes with knee pads.
“At the time, I was misguided and putting my energy into all the wrong places,” Neumann told Business Insider.
After Neumann met his wife Rebekah, they lived an East Village studio “apartment smaller than this office,” Neumann told Business Insider.
Neuman would go on to set his sights on bigger and better real estate once WeWork became successful.
Neumann founded his coworking-space company WeWork in 2010.
Nine years later, WeWork has a $US47 billion valuation. The company is under the We Company umbrella, which also includes Neumann’s coliving venture, WeLive, and the “conscious entrepreneurial school” WeGrow.
Source: Business Insider
Since founding WeWork, Neumann has spent over $US80 million on at least five homes.
Source: Wall Street Journal
In 2012, Neumann bought a house in the Hamptons for over $US1.7 million
In 2014, Newman bought a Greenwich Village townhouse in New York City for $US10.5 million.
Located in Greenwhich Village, the property is under 23-feet wide. At the time it was bought, the townhouse had six bedrooms and five and a half bathrooms. The townhouse was erected in 1847.
Source: The Real Deal
In 2016, Neumann purchased a farm estate in Westchester, New York
The Linden Farm estate in Pound Ridge sprawls 60 acres. At the time of purchase, the property included: a more than 13,700 square foot, eight bedroom, eight bathroom house; a horse stable and ring for riding; a tennis court; a waterfall and pool; and nearly 4,500 acres of preserved land nearby. The estate was listed at $US22 million when it was on the market.
In 2017, Neumann bought four units in a townhouse in New York City for $US34.7 million.
According to The Real Deal, Neuman purchased the following in the the seven-story townhouse:
- Two first-floor units for $US7.2 million
- A fifth floor, 2,210 square foot three bedroom for $US9.5 million
- A duplex penthouse with four bedrooms sprawling over 4,400 square feet for $US18 million.
Source: The Real Deal
In 2018, Neumann purchased a 13,000 square foot home in the San Francisco Bay Area for $US21 million.
The house has a guitar-shaped room.
Source: Wall Street Journal.
Besides real estate, Neumann has been investing in startups.
Neumann has invested in seven startups since 2013, according to Crunchbase. They are: Pins, Feature.fm, Tunity, Selina, EquityBee, InterCure, and Hometalk.
On behalf of WeWork, Neuman has invested in wave-pool startup WaveGarden and the big-wave surfer Laird Hamilton’s superfood startup, which sells things like “performance mushrooms,” powdered coconut water infused with beets and turmeric, and highly caffeinated coffee.
And, Neumann has donated over $US100 million.
Source: Wall Street Journal
We’ll see where Neumann’s investments turn, and his net worth heads, after WeWork goes public.
In April, Neumann announced that WeWork had confidentially filed initial-public-offering paperwork in December as the We Company.
The company filed its public IPO paperwork on Wednesday, August 14.
WeWork declined to comment for this piece.
More We Company IPO news:
- The life of Adam Neumann, the billionaire WeWork founder and CEO who’s about to take his company public
- Here are the 5 biggest questions facing WeWork as it prepares for its IPO
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