WeWork co-founder Adam Neumann enjoys new lavish Florida home as company struggles
Adam Neumann, the co-founder and former CEO of WeWork, seems to be living the good life in Florida while his former company is dealing with financial troubles. According to a report from The New York Post, Neumann and his family are now living in a “lavish” new home in Florida while building his new company, Flow, as WeWork attempts to recover from filing for bankruptcy last week.
The Israeli-American businessman landed in Miami, Florida, after purchasing two properties there for $44 million, with plans to build a 14,500-square-foot mansion. Sources also mentioned that Neumann, his wife Rebekah, and their six children are living in a private neighborhood in Miami. Neumann seems to be enjoying life in Florida, with one source telling The New York Post that “Adam skateboards all the time, all over town, taking business calls. Everybody runs into him – he’s very friendly. He stops and kibitzes with people.”
Meanwhile, WeWork is dealing with low morale among its staff, with one former employee describing the situation as “horrific.” WeWork’s troubles began when it first tried to go public in 2019 and investors raised concerns about the firm’s high levels of debt and massive losses. SoftBank, WeWork’s major backer, took control of the company through a bailout and offered Neumann a massive golden parachute as he left the company.
Despite the challenges at WeWork, Neumann has moved on and launched a new company called Flow in the residential real estate space. Flow has received an initial investment of $350 million from Andreessen Horowitz, which received a stake in its real estate portfolio.
It seems that Neumann is moving on to new ventures, leaving his tumultuous past with WeWork behind as he establishes himself in the Florida luxury real estate market.