General World News

Adam Neumann has locked up control of the We company in a jaw dropping way even by Silicon Valley standards by giving himself 20 votes per share (FB)

adam neumann wework we company ceo

  • WeWork CEO Adam Neumann, like the CEOs of other high-flying startups that have gone public recently, holds shares in his company that will give him extra votes.
  • But Neumann’s stock will give him 20 votes per share — twice as many as votes as the stock held by many of his peers, the company revealed Tuesday in the paperwork it filed for an initial public offering.
  • Thanks to that voting power, Neumann holds majority control over WeWork and is expected to continue to wield that control long after its IPO.
  • WeWork stories here.

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Source:: BusinessInsider.Com