26 March 2024 – Adam Neumann, the co-founder of WeWork who was fired, reportedly proposed more than $500 million to repurchase the office-sharing company.
Despite it being unclear how he would fund such a sale, Adam Neumann made the offer, according to sources with knowledge cited by the Wall Street Journal and CNBC.
According to a letter to WeWork, the co-founder wants to purchase the business to avoid bankruptcy, the news agency AFP said. “Two weeks ago, a coalition of half a dozen financing partners — whose identities are known to WeWork and its advisers — submitted a potential bid for substantially more than the Wall Street Journal reported,” a representative for Adam Neumann’s real estate company, Flow, confirmed that a bid had been made, according to Bloomberg. However, at the time, investors began to have doubts about Adam Neumann’s dependability as a leader and the company’s business plan.
Conclusion
Adam Neumann, the co-founder of WeWork who was fired, reportedly proposed more than $500 million to repurchase the office-sharing company. Despite it being unclear how he would fund such a sale, Adam Neumann made the offer, according to sources with knowledge cited by the Wall Street Journal and CNBC.
