WeWork cofounder Adam Neumann is expected to step down as the company’s chairman — in exchange for a reported $1.7 billion buyout. Here’s how the mogul spends his fortune.

Adam Neumann, left, and his wife, Rebekah Neumann.

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Adam Neumann, left, and his wife, Rebekah Neumann.
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Taylor Hill/Getty Images

WeWork cofounder Adam Neumann is expected to step down as chairman of the board. WeWork’s biggest investor, SoftBank, is taking over the troubled company and reportedly giving Neumann around $1.7 billion ($1 billion for stock Neumann will sell, a $185 million consulting fee, and $500 million in credit) to step down, according to The Wall Street Journal.

The co-working startup, first founded in 2010, publicly filed for its IPO in August as part of The We Company, which has been in a state of turmoil ever since. The IPO was indefinitely delayed, and Neumann stepped down as CEO in September.

The IPO filing revealed that the company had a valuation of $47 billion at its last private round of funding. Now, with SoftBank’s takeover, WeWork’s valuation is expected to drop to $8 billion, according to the Journal.

Neumann sold and borrowed $700 million in transactions involving his shares in WeWork, The Wall Street Journal reported in July. Besides exercising his stock options and buying more WeWork shares, Neumann also spent his money on real estate and investing in startups, also per the Journal.

Read more: Adam Neumann spent over $650,000 on property taxes last year – that’s more than double the median US home value

WeWork’s public IPO filing discloses that Neumann did not take a salary in 2018 and was only paid $1 in 2017.

Here’s what Neumann has been investing in:


Adam Neumann, WeWork’s cofounder and former CEO, has a net worth of $620 million.

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Adam Neumann (right) with his cofounder Miguel McKelvey (left).
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Scott Legato/Getty

Source: Forbes


But he wasn’t always wealthy: Neumann went from broke to billionaire (and now, to millionaire) in the past decade.

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Adam Neumann (left) with spouse Rebekah Neumann (right).
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Theo Wargo/Getty Images

One of the first businesses he started was Krawlers, which sold baby clothes with knee pads.

“At the time, I was misguided and putting my energy into all the wrong places,” Neumann told Business Insider.

After Neumann met his wife Rebekah, they lived in an East Village studio, an “apartment smaller than this office,” Neumann told Business Insider.

Neumann would go on to set his sights on bigger and better real estate once WeWork became successful.

Sources: Business Insider, Business Insider


Neumann founded his coworking-space company WeWork in 2010.

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Brendan McDermid/Reuters

Nine years later, WeWork grew to a $47 billion valuation. The company is under the We Company umbrella, which also includes Neumann’s co-living venture, WeLive, and the “conscious entrepreneurial school” WeGrow, which the company now plans to shutter by the end of the current academic year.

Source: Business Insider

Read more: WeWork cofounder Rebekah Paltrow Neumann’s in-house school is closing. Meet the former actress, who is former CEO Adam Neumann’s ‘strategic thought partner.’


Since founding WeWork, Neumann has spent over $80 million on at least five homes.

Source: Wall Street Journal


In 2012, Neumann bought a house in the Hamptons for over $1.7 million.

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A beach in the Hamptons.
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MontenegroStock/Shutterstock

Sources: Bisnow, Vanity Fair


In 2014, Neumann bought a Greenwich Village townhouse in New York City for $10.5 million.

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Gardiner Anderson/Bauer-Griffin / Contributor, Getty

Located in Greenwich Village, the property is under 23-feet wide. At the time it was purchased, the townhouse had six bedrooms and five and a half bathrooms. The townhouse was erected in 1847.

Source: The Real Deal


In 2016, Neumann purchased a farm estate in Westchester, New York.

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A horse stable.
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Alex Davidson/Getty Images

The Linden Farm estate in Pound Ridge spans 60 acres. At the time of purchase, the property included a more than 13,700 square foot, eight bedroom, eight bathroom house; a horse stable and ring for riding; a tennis court; a waterfall and pool; and nearly 4,500 acres of preserved land nearby. The estate was listed at $22 million when it was on the market.

Sources: Bisnow, New York Post


In 2017, Neumann bought four units in a townhouse in New York City for $34.7 million.

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A building on Irving Place in the Gramercy Park neighborhood of New York City.
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Erika Cross/Shutterstock

According to The Real Deal, Neuman purchased the following in the the seven-story townhouse:

  • Two first-floor units for $7.2 million
  • A fifth floor, 2,210-square-foot three-bedroom for $9.5 million
  • A duplex penthouse with four bedrooms spanning over 4,400 square feet for $18 million

Source: The Real Deal


In 2018, Neumann purchased a 13,000-square-foot home in the San Francisco Bay Area for $21 million.

Source: Wall Street Journal, Business Insider


The house reportedly has a guitar-shaped room.

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Michael Kovac/Getty Images

Source: Wall Street Journal


Besides real estate, Neumann has long been investing in other startups.

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Theo Wargo/Getty Images

Neumann has invested in seven startups since 2013, according to Crunchbase. They are: Pins, Feature.fm, Tunity, Selina, EquityBee, InterCure, and Hometalk.

On behalf of WeWork, Neuman has invested in wave-pool startup WaveGarden and the big-wave surfer Laird Hamilton’s superfood startup, which sells things like “performance mushrooms,” powdered coconut water infused with beets and turmeric, and highly caffeinated coffee.

Sources: Crunchbase, TechCrunch, Business Insider

Read more: All the unusual investments WeWork’s CEO has made, from a medical marijuana provider to a wave pool maker


Neumann has also donated over $100 million.

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Adam Neumann (left) with Ashton Kutcher (right).
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Terry Wyatt/Getty Images

Source: Wall Street Journal


Neumann stepped down as WeWork’s CEO on September 24 and is now expected to step down as WeWork’s chairman of the board.

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Jackal Pan/Reuters

In April, Neumann announced that WeWork had confidentially filed IPO paperwork in December as the We Company.

The company filed its public IPO paperwork on Wednesday, August 14, and it has been in turmoil ever since. The IPO has been indefinitely delayed.

Business Insider previously reported that WeWork’s primary investor SoftBank, which is taking control of the embattled company, is giving Neumann an estimated $1.7 billion payout in exchange for stepping off the board.

WeWork declined to comment for this piece.

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