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These are the unusual ways WeWork founder Adam Neumann has made millions, and stands to make more, from his $47 billion company about to go public

Aug 22, 2019, 18:00 IST

Jackal Pan/Getty Images

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  • WeWork CEO Adam Neumann has led the company since cofounding it in 2010. It is scheduled to go public under the holding company The We Company in September.
  • Since the release of We's S-1 prospectus in August, Neumann's unusual relationship to the company had undergone intense scrutiny.
  • Neumann controls a private company that owns a majority stake in The We Company and has used it to sell the "We" name to The We Company for nearly $6 million. He also previously rented property to his company and borrowed millions in loans from it.
  • Click here for more BI Prime stories
  • Read all of BI's WeWork coverage here

The coworking space giant WeWork, under its parent company The We Company, is set to go public next month in one of the biggest and most polarizing IPOs of this year.

Since releasing its S-1 prospectus in August, analysts have not only been scrutinizing We's financials, but also its charismatic founder and CEO, Adam Neumann.

Neumann cofounded WeWork in 2010 and has led it to a valuation of $47 billion with 466,000 members across 28 countries.

Along the way, Neumann has been a landlord to and a borrower from his company. He's controlled a separate private company, WE Holdings LLC, which as the S-1 revealed, sold the copyright to the "We" name to this company about to go public, for almost $6 million. The corporate structure is also quite complex, though a key takeaway is that it grants Neumann maximum control.

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As the IPO approaches, we've collected some of the highly unusual ways Neumann has made millions, and will continue to make if the IPO is successful, from WeWork.

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