$700 Million Cash Out by WeWork Co-Founder
Co-founder Adam Neumannn of WeWork sold most of his stake and borrowed against his holdings and invested that cash out into real estate and startups.
All this happened before its IPO with a mix of stock sales and debt. Most founders typically wait for the IPO to maximize their holdings but not Adam Neumann.
WeWorks started nine years ago has been dominating the shared office space for a few years now and Mr. Neumann is the chief executive with the most shares in the company.
Since he has sold his shares, Adam Neumann has been investing in commercial properties, startups, and a medical cannabis company.
Most private companies don’t make the disposal of stock by their top executives before they IPO. This IPO reveals that Neumann’s transactions have ranked him to be at the top of the largest in dollar terms.
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