Re:WeWork Co-Founder Has Cashed Out at Least $700M Via Sales...
by baby on Thursday July 18, 2019 @08:43PM
(#20475339)
So he found a way to make money by buying a few places and renting it to his company. A lot of CEOs seem to find similar tricks. Does it mean that he is the landlord of all the locations of wework? No. Does it mean wework is a real estate company? Certainly not if they are only renting.
Re:WeWork Co-Founder Has Cashed Out at Least $700M Via Sales...
by elamje on Thursday July 18, 2019 @11:06PM
(#20475881)
I would be interested to see if Jamie Dimon or Jeff Bezos could slip by owning a JP Morgan office building or Amazon warehouse, respectively. You pass it off like it is the norm. If it is normal, please cite several examples that come to mind. The examples cannot include private companies where the CEO is the 100% owner.
> One of the landlords behind the building was no ordinary owner: It was Adam Neumann, WeWork’s chief executive, who leased the property to WeWork after buying it, according to people familiar with the situation.
> Mr. Neumann has made millions of dollars by leasing multiple properties in which he has an ownership stake back to WeWork, one of the country’s most valuable startups. Multiple investors of the privately held company said the arrangement concerned them as a potential conflict of interest in which the CEO could benefit on rents or other terms with the company.