Adam Neumann is an Israeli-American businessman who co-founded WeWork, a shared workspace company, in 2010. He served as the company’s CEO until 2019, when he stepped down amidst scrutiny over his leadership and business practices.
Neumann was born in Tel Aviv, Israel, in 1979. He moved to the United States to study business administration at Baruch College in New York City. After graduating, he worked as a real estate agent and co-founded several startups, including Krawlers, a children’s clothing company.
In 2010, Neumann and Miguel McKelvey co-founded WeWork. The company quickly grew to become one of the most valuable startups in the world, with a valuation of over $47 billion at its peak. WeWork’s success was based on its concept of providing shared workspaces for entrepreneurs and freelancers. The company offered a variety of amenities, such as high-speed internet, conference rooms, and common areas, to its members.
However, WeWork’s rapid growth was also accompanied by scrutiny over its business practices. The company was criticized for its high valuation, its lack of profitability, and Neumann’s extravagant lifestyle. In 2019, WeWork’s IPO was canceled due to concerns about the company’s financial health and Neumann’s leadership.
Neumann stepped down as CEO of WeWork in 2019. He remains a significant shareholder in the company, but he has not been involved in its day-to-day operations since his departure.
In recent years, Neumann has launched several new ventures, including Flow, a residential rental company, and 166 2nd Financial Services, a family office. He has also invested in several other startups.
Neumann is a controversial figure, but he is also one of the most successful entrepreneurs of his generation. He is known for his charisma, his vision, and his ability to take risks. However, he has also been criticized for his arrogance, his lack of attention to detail, and his willingness to bend the rules.