Adam Neumann
Adam Neumann | |
|---|---|
| Born | April 25, 1979 Beersheba, Israel |
| Occupation(s) | Entrepreneur, investor |
| Years active | 2000–present |
| Known for | Co-founder and former CEO of WeWork |
Adam Neumann (; born April 25, 1979) is an Israeli-American billionaire entrepreneur and investor. He co-founded WeWork alongside Miguel McKelvey in 2010 and held the CEO position until 2019. That same year, Neumann and his spouse, Rebekah Neumann, created a family office named 166 2nd Financial Services to oversee their assets, channeling over a billion dollars into real estate ventures and startup investments.
Following investor concerns revealed during WeWork's IPO filing, Neumann resigned as CEO and gave up majority voting control in September 2019. By early 2024, Forbes valued his net worth at around US$2.2 billion.
Early life
Neumann was born and grew up in Beersheba, Israel. After his parents divorced when he was seven, he moved between 13 different residences by the age of 22. His younger sister is a model and former Miss Teen Israel. Struggling with dyslexia, Neumann was unable to read or write until the third grade.
During his adolescence, he lived on a southern Israeli kibbutz and served as a junior officer in the Israeli Navy. He later attended the Zicklin School of Business at Baruch College in New York City.
2000 - 2010
Prior to establishing WeWork, Neumann founded Krawlers, a children's apparel company. Through a mutual acquaintance, he met Miguel McKelvey, and together they launched Green Desk in 2008—a sustainable coworking space that preceded WeWork. After selling their stakes in Green Desk, they reinvested the proceeds along with $15 million from Brooklyn real estate developer Joel Schreiber, who acquired a 33% share, to start WeWork in 2010. Neumann’s vision was to replicate the communal atmosphere he experienced in Israel, which he felt was lacking in Western professional environments.
In 2015, Neumann was honored with the EY Entrepreneur of the Year.
2011 - 2020
On September 22, 2019, media outlets including The Wall Street Journal reported that WeWork’s board intended to request Adam Neumann’s resignation as CEO amid concerns over his conduct and alleged drug use prior to an anticipated IPO. Reports indicated that Neumann had withdrawn $700 million from WeWork before the public offering, diminishing his influence. Additionally, he instructed We Holdings LLC—managed by himself and McKelvey—to reverse a $5.9 million stock deal related to the "We" trademarks. Neumann stepped down on September 24, 2019; Artie Minson and Sebastian Gunningham were appointed as his successors.
In October 2019, The Wall Street Journal disclosed that SoftBank, a major investor, agreed to pay Neumann nearly $1.7 billion for relinquishing his board seat and cutting most ties with WeWork. Subsequently, minority shareholders initiated legal action against Neumann and other executives for alleged breaches of fiduciary duty connected to the failed IPO and declining company valuation.
2021 - present
On February 24, 2021, The Wall Street Journal revealed that Neumann had received approximately $130 million out of an agreed $185 million in consulting fees from SoftBank before payments were halted. Later on May 27, 2021, the publication detailed a renegotiated exit package replacing the October 2019 agreement: Neumann obtained $106 million in cash plus $92.5 million previously paid as consulting fees, with roughly $50 million earmarked for legal expenses. The settlement permitted him to refinance $432 million of debt under favorable conditions and allowed an entity under his control to sell $578 million worth of WeWork shares. He also received a new stock award valued near $245 million contingent on maintaining a share price above $10. These disclosures coincided with WeWork’s merger with BowX Acquisition, a special-purpose acquisition company.
In April 2020, Forbes estimated Neumann’s net worth at $750 million after removing him from its billionaire rankings. Following WeWork’s SPAC merger in 2021, the Bloomberg Billionaires Index placed his net worth at $2.3 billion. He reentered the Forbes billionaires list in 2022; by February 2024, his estimated wealth stood near $2.2 billion.
By March 2022, Neumann had redirected his efforts toward real estate investment in Miami. In August that year, venture capital firm Andreessen Horowitz invested in Flow, his residential property startup. As of 2025, Flow oversees six rental properties across Florida and Saudi Arabia.
In May 2022, Neumann supported Flowcarbon, a blockchain-based platform facilitating carbon credit tokenization.
In February 2024, he made an attempt to reacquire WeWork amid its bankruptcy process but abandoned this bid three months later.
In May 2024, Neumann purchased Whalebone, a lifestyle magazine published bimonthly in Montauk, New York; it was subsequently rebranded as Flow Trip.
In October 2024, he introduced Workflow—a new enterprise positioned as a competitor to WeWork but incorporating an updated business model.
Business Ventures
In 2018, Neumann became a stakeholder in InterCure, an Israeli cannabis enterprise headed by Ehud Barak, the former Prime Minister of Israel. That same year, he also invested in EquityBee, a startup focused on technology investments, and Selina, a company operating in the hospitality sector. Early in 2020, he injected US$10 million into GOTO Global, a multimodal shared mobility firm, securing a one-third ownership interest.
Real Estate
Back in 2012, Neumann joined forces with Ken Horn from Alchemy Properties and Joel Schreiber to acquire the upper levels of the Woolworth Building for US$68 million, subsequently transforming the space into luxury condominiums.
While serving as CEO of WeWork, Neumann often bought properties and then leased them back to WeWork, a practice that raised concerns about potential conflicts of interest—issues that would have undergone greater scrutiny had the company been publicly traded. During his leadership, he amassed residential real estate valued at approximately US$90 million, including a sprawling 60-acre estate in Westchester County, New York, a 6,000-square-foot condo near Gramercy Park, two residences in The Hamptons, and a $21 million mansion located in Corte Madera, California.
In August 2022, Neumann unveiled Flow, a startup focused on residential real estate development, which received backing from the venture capital firm Andreessen Horowitz.
Legal and Business Issues
In 2018, during a flight from the United States to Israel aboard a Gulfstream G650 chartered by Neumann, he and his companions were found consuming marijuana. Upon arrival, the flight crew discovered a cereal box containing marijuana onboard. This discovery led the aircraft’s owner to fly the jet back to the U.S. without passengers onboard, compelling Neumann and his group to arrange alternative travel.
In January 2021, Neumann engaged renowned defamation attorney Tom Clare to safeguard his public image. In May 2023, an article published by The Spectator accused Neumann of deceiving WeWork investors and likened him to convicted fraudster Elizabeth Holmes. Neumann labeled these allegations as defamatory, resulting in a retraction that clarified he neither deliberately misled investors nor violated any laws.
Philanthropy
In 2017, Neumann and his wife contributed $1 million to the "Be the Match Registry," part of the National Marrow Donor Program, supporting efforts related to bone marrow donation.
Personal Life
Neumann married Rebekah Neumann in 2008. The couple lives with their six children in New York City's Greenwich Village. They observe Shabbat regularly as a family, with Neumann attributing much of his personal and professional growth to his Jewish faith.
Claims and Statements
According to a 2019 report by The Wall Street Journal, Neumann expressed ambitions including eternal life, becoming the first trillionaire globally, expanding WeWork operations to Mars, serving as Israel’s prime minister, and holding the title of "president of the world." A September 2019 feature in Vanity Fair highlighted Neumann’s assertions that he persuaded Rahm Emanuel to consider running for U.S. president, used JPMorgan Chase CEO Jamie Dimon as his personal banker, influenced Saudi prince Mohammed bin Salman on issues regarding women's rights, and collaborated with Jared Kushner on the Trump administration’s peace initiatives concerning the Israeli–Palestinian conflict.
In popular culture
In 2018, Time recognized Neumann as one of the 100 most impactful individuals.
He plays a central role in the nonfiction work Billion Dollar Loser (2020). The 2022 Apple TV+ drama series WeCrashed features Jared Leto portraying Neumann.
In 2022, The New York Times earned an Emmy Award for the live interview event DealBook Summit: One-on-One With Adam Neumann, conducted by Andrew Ross Sorkin.
The HBO documentary series Generation Hustle included an episode named "Cult of WeWork" that explored Neumann’s leadership style. Following legal challenges from the Neumanns disputing their depiction as fraudsters, HBO amended the episode’s summary and removed the true crime classification. As reported by Deadline Hollywood, this episode was unique within the series as it featured no individuals charged or accused of criminal offenses.