What has Adam Neumann been up to since his WeWork ousting – and can he really buy the company back? The Israeli-American skateboarding billionaire has been compared to Elon Musk and Jeff Bezos

Apr 16 , 2024

Israeli-American billionaire businessman Adam Neumann – who co-founded WeWork in 2010 before being ousted as CEO in 2019 – is trying to buy back the business. Photo: Getty Images

Adam Neumann, the Israeli-American billionaire who co-founded WeWork in 2010 – the famous and controversial company providing coworking spaces in a range of pay-as-you-go options – may have been ousted as CEO in 2019, but now he wants back in.

Adam Neumann, then CEO of WeWork, speaks at the TechCrunch Disrupt event in New York City, in May 2017. Photo: Reuters

Despite a TV series focusing on his flamboyant personality, and his reputation taking a major hit after stories about his unusual leadership style were made public, Neumann has tried to clean up his image. He has started a new business, moved house – and even skateboards. He’s also hanging out with Ivanka Trump and Jared Kushner, their friendship remaining solid despite all of his business trouble.

Here’s what to know about the man who won over Wall Street while – according to former staffers speaking to Vanity Fair – downing shots of Don Julio tequila during meetings.

How did Adam Neumann offer to buy back WeWork?

After leaving WeWork, Adam Neumann started property company Flow Global. Photo: @andresllorente/X

Neumann, 44, was forced out of the company in 2019 after WeWork’s planned initial public offering failed due to a series of controversies. He received an exit payout of US$445 million, per The Guardian. The company filed for chapter 11 bankruptcy in November last year after his departure, with US$2.9 billion of debt.

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Now though, despite Neumann’s tumultuous exit, he wants back in. Per The New York Times, the businessman has been working for months to buy back WeWork and has offered to provide the bankruptcy financing needed to keep it afloat. His efforts have so far been unsuccessful, with his lawyers accusing the company’s current owners of stonewalling.

Adam Neumann’s return to business

Adam Neumann speaks at a WeWork event shortly before his 2019 ousting. Photo: @nsfwshirts/Instagram

After being ousted from WeWork, Neumann created a new company, Flow Global, focused on residential property. In 2022, the company received US$350 million in funding from the venture capital firm Andreessen Horowitz, per The New York Times. Flow also received a US$1 billion valuation directly from the VC firm’s founders, Marc Andreessen and Ben Horowitz, according to The Wall Street Journal.

Neumann’s estimated net worth stands at US$2.3 billion, per Forbes.

What has Adam Neumann’s life been like post WeWork?

Adam Neumann and his wife, Rebekah Neumann. Photo: @forbesbr/Instagram

Despite being ousted and mostly shunned by the business world, Neumann has seemingly been living his best life. Per the New York Post, he spends his time skateboarding, socialising and seeking investors for Flow. He lives in South Florida with his wife Rebekah and the couple’s six children.

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The Neumanns are close friends with Trump and Kushner, per the New York Post, and have a home close to that of Gwyneth Paltrow, who is Rebekah’s cousin. An unnamed former WeWork staffer stated that Adam has been on a mission to clean up his image, including by giving speeches and taking part in panel discussions.

Jared Leto and Anne Hathaway as the Neumanns

Jared Leto as Adam Neumann and Anne Hathaway as Rebekah Neumann, in Apple TV+’s WeCrashed. Photo: Handout

Adam’s legacy after he left WeWork was so wild that it inspired the 2022 Apple TV+ miniseries WeCrashed. His eccentric personality, and unusual leadership style and work ethic, were documented in the show. Jared Leto played Adam while Anne Hathaway played his wife Rebekah.

Adam and Rebekah Neumann. Photo:@vglaam/X

Per Vanity Fair, WeWork was once privately valued at US$47 billion, but once the company started to fail, news quickly reached the CEO’s ears that Wall Street viewed him as “toxic”.

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The same publication reported on troubling grandiose statements that Neumann made, including that he wanted to be elected president of the world, live forever, and become the first ever trillionaire. Staff detailed how he would email them in the middle of the night and expected an always-on work ethic from those he employed, per Grazia.

Adam Neumann speaking at the TechCrunch Disrupt event in New York City, in 2017. Photo: @spreadbyb/Instagram

Neumann’s office was outfitted with a cold plunge pool, infrared sauna and Peloton bike, per Vanity Fair. He was famously often seen walking around barefoot in WeWork’s offices, and even the streets of New York.

At the time of WeWork’s rise to business stardom, Neumann was often compared to Jeff Bezos and Elon Musk.

Millionaires and billionaires

WeWork was once valued at US$47 billion – but its value plunged when, due to multiple controversies, the company’s IPO failed to materialise in 2019, forcing then CEO Neumann to step down
Adam and his wife Rebekah were subjects of the Apple TV+ miniseries WeCrashed, which saw the couple played by Jared Leto and Anne Hathaway; Rebekah is also a cousin of Gwyneth Paltrow