He said the company's post-bankruptcy plan 'appears unrealistic and unlikely to succeed'
Adam Neumann is going to end his effort to buy WeWork. The Wall Street Journal reports that the company’s once-jettisoned founder has changed his mind about trying to regain control of it. “For several months, we tried to work constructively with WeWork to create a strategy that would allow it to thrive,” Neumann reportedly said in a statement Tuesday. “Instead, the company looks to be emerging from bankruptcy with a plan that appears unrealistic and unlikely to succeed.
WeWork got a lot of hype — Vanity Fair reports that Neumann became such a prominent businessman that Donald Trump aide Jared Kushner once enlisted him to tout the opportunities in an “economically transformed” Palestine that would come out of Kushner’s Middle East peace proposal — and it filed to go public in 2019. A few months later, shareholders realized that the hype wasn’t translating into business success, and investor SoftBank paid Neumann $1.
WEWORK Wall Street Journal Business Finance Vodafone Tout Softbank Group Donald Trump Keiretsu Jared Kushner Softbank Kushner Gizmodo
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WeWork reaches settlement with creditors, rebuffs Neumann bidWeWork reaches settlement with creditors, rebuffs Neumann bid
Read more »
Adam Neumann’s Bid to Buy WeWork Failed. Will He Now Try to Compete With It?WeWork’s controversial former CEO tried to acquire the bankrupt company he left in crisis. After being rebuffed, Adam Neumann will have to pivot to something new.
Read more »
Moms rally in Downtown Tucson, remembering children lost to drug overdosesAdam Klepp is KGUN 9's Marana reporter. Send your story ideas to Adam at Adam.Kleppkgun9.com.
Read more »
Answering the call: 911 dispatch staff numbers are increasing in TucsonAdam Klepp is KGUN 9's Marana reporter. Send your story ideas to Adam at Adam.Kleppkgun9.com.
Read more »
State to decide if they will re-try their case against George Alan KellyAdam Klepp is KGUN 9's Marana reporter. Send your story ideas to Adam at Adam.Kleppkgun9.com.
Read more »
Santa Cruz County's Council on Aging offers free programs to help seniorsAdam Klepp is KGUN 9's Marana reporter. Send your story ideas to Adam at Adam.Kleppkgun9.com.
Read more »