Adam Neumann is an Israeli-American businessman and co-founder of WeWork. He mostly spent time in Kibbutz Nir Am, and later joined the Israeli Navy at the age of 17. At 22, he joined the Zicklin School of Business at Baruch College, New York, USA. Simultaneously, he started his first business in women’s footwear and then entered the baby garment industry. He failed in both the businesses as he came out of college. At the age of 29, he opened Green Desk, together with his friend Miguel Mckelvey, a shared workspace. After two years, he co-founded the first eco-friendly coworking space WeWork, with his wife Rebekah and friend Miguel. He worked as CEO of WeWork from 2010 to 2019, within a decade he turned it into a $47 billion company. Though he resigned as the CEO, he served the company as non-executive chairman.
Where Does Neumann Live?
Neumann lives together with his wife Rebecca Neumann and their six children including two pairs of twins in the Greenwich Village neighborhood of New York City.
Adam is the Co-founder of?
- A. WeWork
- B. Uber
- C. SpaceX
- D. Snapchat
What Does Adam Neumann Do Now?
In 2010, Neumann co-founded WeWork with Miguel McKelvey. WeWork was among the top private companies in the U.S. and was named alongside Uber, Airbnb, Palantir Technologies, and SpaceX. The company underwent a drastic fall that wiped out around $10 billion.
According to the New York Magazine, he offered a tequila shot to an employee during her job interview. Later, he put a four beer limit on beverage services in the offices. According to Vanity Fair, he would host guests and fly them in private jets. He loves tequila and hosting parties in the sky. His uncontrolled lifestyle and work affected WeWork negatively and the company failed to attempt an IPO in 2019.
The Wall Street Journal reported that WeWork was planning to remove Neumann as CEO.
After Neumann was expelled from the company, in 2021 WeWork united with BowX Acquisition Corp. He was paid US $1.7 billion compensation, including the US $500 million loans to repay a credit loan. He also received $185 million as a consultation fee from SoftBank, which acquired WeWork.
According to Forbes, he and his wife Rebekah Paltrow Neumann along with his six kids left the US and spent some time in Israel to stay away from the public and returned to Hamptons in May 2020.
Where Are Neumann And Rebecca Now?
The religious Jewish family first went to South America after selling his two shared properties and then they went to Israel, his hometown. At present, the Neumanns are at Hampton, New York. After they moved to Hampton, Rebekah was planning to relaunch WeGrow with a new name as Student Of Life For Life or SOFL
Adam, on the other hand, decided to dive back into real estate and invest in a startup company called Alfred in 2020 which provides style services for residential residents.
Is Adam Still Worthy?
In April 2021, he invested in a secret venture, and in January 2022, he purchased a $17 million ground-floor retail space in Fort Lauderdale, Florida. He also purchased two high-rise apartment buildings near Miami.
He is planning to re-launch WeLive, an offshoot from WeWork that would run a dormitory-style shared accommodation for working professionals.“Since the spring of 2020, we have been excited about multifamily apartments living in vibrant cities where a new generation of young people increasingly are choosing to live.” DJ Mauch, Neumann’s family office partner, told The Wall Street Journal. “We are excited to play a role in that future“.
In 2021, his net worth is estimated to be $1.5 billion.
According to The Wall Street Journal, Adam has bought more than 4,000 flats worth US $1 billion and invested $30 million in Alfred. Despite the fallout with WeWork, he is still a billionaire.