Adam Neumann (TechCrunch YouTube photo)
Common work spaces for apartments for rent. Adam Neumann, real estate entrepreneur and founder of WeWork, is changing direction to a new, surprising and coveted field – residential apartments, after resigning from his job at renting shared workspaces. According to the Wall Street Journal, Neumann recently acquired thousands of properties across the United States, including It’s in Miami, Nashville, and Atlanta, with an estimated $ 1 billion investment.
Neumann’s entourage said that the aim behind those acquisitions is to shock the rental housing industry, and that the developer intends to establish a brand of investment apartments with a variety of unique services, while appealing to a young and fresh market segment, which he also aimed at in WeWork.
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As you may recall, Neumann founded the company about 11 years ago and at its peak its valuation was estimated at about $ 47 billion. Despite the intention to issue it on the stock exchange, which did not materialize, it is currently traded at a more “modest” value in the order of magnitude to which it is accustomed – about $ 7 billion. It is estimated that the shares sold for more than half a billion dollars. It now remains to be seen how Neumann will function in the housing market where rents are rising steadily in parallel with the continuing rise in demand.
Adam Neumann in Slippers: This is how the series will look about his life
The producers of the WeCrashed series, based on the story of WeWork founder Adam Neumann, said three weeks ago that they did not talk to Jared Leto all the time about filming their new series that will air this spring on Apple TV +. “We only spoke to Adam Neumann,” clarifies one of them, referring to the special and controversial founder of WeWork who plays the actor in their eight-episode drama. “Jared really got into character with an Israeli accent.”
WeCrashed – based on the podcast of the same name – documents the meteoric rise of the co-working space company WeWork, and Neumann’s fall from the affair that led to his resignation as CEO in 2019 amid scathing reports claiming disgraceful treatment of staff and questionable financial practices. The set, but now Entertainment Weekly is publishing official photos from the series for the first time.
At the heart of the series is Neumann’s relationship with his wife, Rebecca, who has faced similar allegations of controversial behavior as WeWork’s director. What sets this series apart from the rest of the series in this genre is that the story is told through the prism of this power-couple. When the cult of personality in the business does not end there but continues to the house as well.
To play Rebecca with the deep and authoritative voice, the cast immediately thought of Anne Hathaway. “We were even more fascinated by Rebecca than that of Adam Neumann, which means quite a bit,” says one of the producers, “there are many complexities in the character – it required an actor with extraordinary skill to capture all the nuances in his personality.”
The unicorn motif runs through the series, winking at the mythological character adopted by companies that are too good to be true as happened to WeWork, which at one point was valued at $ 47 billion. The creators of the series say that for them it is also a warning to the future, because we as a company continue to be swept away in appreciation for unicorns and this idea that one can get rich quick. And the story of Adam Neumann, who said ironically that he wants to be a trillionaire, is a warning sign to anyone in this industry who dreams wild dreams of getting rich quick.
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