Neumann’s Payday From WeWork Bigger Than Previously Known, New Book Says
Entities tied to Neumann amassed more than $2.1 billion, even as company burned through cash, laid off workers
Adam Neumann extracted more wealth than previously thought from his tumultuous time at WeWork, according to a new book about the co-working giant and its co-founder.
Entities controlled by Neumann have made more than $2.1 billion from the company since its founding, including stock sales, cash settlement payments and WeWork shares—all while the company burned through more than $11 billion and laid off thousands of workers after its failed attempt at an initial public offering in 2019, according to recent company filings as well as reporting from The Cult of We: WeWork, Adam Neumann and the Great Startup Delusion, a book set to be released Tuesday by Wall Street Journal reporters Eliot Brown and Maureen Farrell.