Adam Neumann Remains a Billionaire Even With WeWork Bankruptcy
- Co-founder was forced out after first IPO attempt fizzled
- His new real estate venture was valued at $1 billion last year
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WeWork Inc. never figured out how to make money. Adam Neumann sure did.
The office-leasing business declared bankruptcy this week, two years after finally going public minus its infamous co-founder. It has $19 billion of liabilities and $15 billion of assets. Longtime investors, including Softbank Group Corp. and the Vision Fund, will add to the enormous losses they’ve already taken on the venture.