How WeWork’s Ousted Cofounder Regained Billionaire Status This Week | Forbes

The following video is brought to you courtesy of the Forbes YouTube Channel. Click the video below to watch it now.

Once valued at $47 billion, with its sights set on “elevating the world’s consciousness,” office rental company WeWork will go public Thursday at a more muted $9 billion valuation. That’s got to be underwhelming for the investors who pumped $12.7 billion into the business as it ballooned to become one of the world’s most valuable startups. But there’s one player making out big time: Adam Neumann, the ousted cofounder whose conduct as CEO helped crash the company’s first IPO attempt (and whose controversial separation deal infuriated both investors and the broader public).

Forbes estimates that Neumann, who lost his billionaire status as WeWork’s value plummeted following the failed attempt to go public in 2019, will be worth an estimated $1.6 billion when shares begin trading on Thursday after WeWork merges with BowX Acquisition Corp.— a fraction of the $4.1 billion Forbes estimated him to be worth at WeWork’s peak, but enough to make him a billionaire for the first time since 2019.

Despite being ousted from the company he cofounded and no longer having any role in the business, Neumann, through an entity he controls, will own an estimated 48.5 million shares after the SPAC merger, giving him an estimated ownership stake of about 7%.

Read the full story on Forbes:

Subscribe to FORBES:

Stay Connected
Forbes newsletters:
Forbes on Facebook:
Forbes Video on Twitter:
Forbes Video on Instagram:
More From Forbes:

Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.”



Leave a Reply

Recent Posts

Trump Supporters: Get Your 2020 'Keep America Great' Shirts Now!

Are you a proud supporter of President Donald Trump?

If so, you’ll want to grab your 2020 re-election shirt now and be the first on your block to show your support for Trump 2020!

These shirts are going fast so click here to check for availability in your area!


More Popular Stuff for Trump Supporters!

MUST SEE: Full Color Trump Presidential Coin (limited!)

Hilarious Pro Trump 'You are Fake News' Tee Shirt!

[Exclusive] Get Your HUGE Trump 2020 Yard or House Flag!


account android arrow-alt-circle-down arrow-alt-circle-left arrow-alt-circle-right arrow-alt-circle-up arrow-down arrow-left arrow-right arrow-up author bars behance blogger buffer caret-down caret-left caret-right caret-square-down caret-square-left caret-square-right caret-square-up caret-up cart-menu-1 cart-menu-2 cart-menu-3 cart-menu-4 categories chevron-down chevron-left chevron-right chevron-up clock close comments cookies copyright coupon-discount date-modified date-published discord double-arrows-down double-arrows-left double-arrows-right double-arrows-up dribbble envelope-open envelope eye facebook fax flickr foursquare github gmail google-drive grid-view hashtag hollow-ring homepage instagram ios level-down-alt level-up-alt line link linkedin list-view login logout long-arrow-alt-down long-arrow-alt-left long-arrow-alt-right long-arrow-alt-up medium messenger mobile-menu mobile phone pinterest place qq quote-left quote-right quotes reading-time-hourglass reading-time-stopwatch reddit rss scroll-to-top search shazam shopping-bag shopping-cart side-panel-opening-2-left side-panel-opening-2-right side-panel-opening-left side-panel-opening-right skype slack small-arrow-down small-arrow-left small-arrow-right small-arrow-up sms snapchat soundcloud spinner spotify stackoverflow sync telegram tiktok times-circle tinder trello tripadvisor tumblr twitch twitter viber vimeo vine vkontakte website wechat whatsapp windows wishlist xing yelp youtube zoom