WeWork cofounder and CEO Adam Neumann reportedly sold shares he owned in the company and took loans worth $700 million ahead of planned public offering
|07/19/2019||Posted by BusinessMediaguide.Com under General World News||
- According to a Wall Street Journal report, WeWork cofounder and CEO Adam Neumann has sold sizeable portions of his stake in the office space sharing company.
- Neumann also borrowed against his holdings, according to the WSJ report, buying more shares in his company as well as purchasing five homes and investing in real estate and startups.
- Neumann’s sales and debt transactions totalled $700 million in total, according to the WSJ. The news comes as WeWork and its parent company, last valued at $47 billion in private markets, is preparing for a highly-anticipated IPO.
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