WeWork Cos. co-founder Adam Neumann has cashed out more than $700 million from the company ahead of its initial public offering through a mix of stock sales and debt, people familiar with the matter said—an unusually large sum given that startup founders typically wait for the IPO to monetize their holdings.
Mr. Neumann, who is chief executive of the shared office-space giant and remains its single largest shareholder, over several years has sold some of his stake in the company and borrowed against some of his holdings, the...
VC I don't understand why any money was ever invested in an obvious farce. Are there that many non-critical thinkers with that much access to capital?
He’s 100% buying bitcoin
Allowing retail investors to buy into this company post-IPO is borderline criminal. - Insurmountable Debt 🗑 - CEO Self-Dealings 🗑 - CEO cashes out prior to IPO “Dumb money” was coined for a reason, and sadly, the ones who get burned need the $ the most.
completely unreal
He finally found a way to make a profit.
Not surprised VentureCapital investors have mixed feelings about large founder stock sales prior to IPO given previous examples zynga Groupon Snapchat - maybe it will be different for WeWork🤞
IPOs are always a “liquidity event” for insiders. No surprise here. But how much stock does he still own?
They aren’t public yet folks. SEC doesn’t really have a play hear and this isn’t uncommon.
GuptaSarang
He won bigly at hot potato.
michaelbatnick awealthofcs The least surprising WSJ News Alert email I received in 2019.
Not a good look is it...
Why would he do that? They’re about to be the hottest unicorn to hit the market this year!!!!! 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😉😉😉😉😉😉😉😉😉😉😉
Oh snap! Where is the SEC?!?!
Smart
Tell me what the definition of insider trading is again? Does it need to be updated?
Why would he do that 🤔🤭
'You light a match. You blow the joint' - Henry Hill 'Goodfellas'
___theKing___ lmao well shit
🤔🤔🤔