Posted on July 19, 2019 by Admin
In 2018, WeWork cofounder Adam Neumann bought a $21 million home in California with a guitar-shaped room, according to The Wall Street Journal. He has spent over $80 million on five homes since he founded WeWork in 2010. The Journal reported that he cashed out over $700 million from his company ahead of its initial…
WeWork cofounder Adam Neumann owns some interesting residential real estate.
In 2018, Neumann bought a 13,000-square-foot home in the San Francisco Bay Area with a guitar-shaped room for $21 million, according to The Wall Street Journal. The home was added to Neumann's long list of residential real-estate purchases, which over the past nine years have totaled over $80 million.
According to public reports, Neumann — who, Forbes reports, has a net worth of $4.1 billion — also bought a townhouse in Greenwich Village for $10.5 million in 2014 and property in Gramercy Park for $35 million in 2017. He reportedly also owns a home in Westchester County and the Hamptons, but the purchase prices are not known.
Neumann's real-estate ventures span beyond just residential. He's invested in commercial properties, startups, and has reportedly given away over $100 million, according to The Wall Street Journal.
WeWork was valued at $47 billion in January of 2019. In July, Neumann made media headlines for reportedly cashing out over $700 million from the company ahead of its initial public offering.
Business Insider previously reported that before he became a billionaire, Neumann was broke. He and his wife, Rebekah, lived in a tiny apartment in NYC's East Village.
The company didn't immediately respond to a request for comment from Business Insider.