WeWork Files for Bankruptcy as Co-founder Adam Neumann Flourishes

WeWork, the office-sharing company co-founded by Adam Neumann, has filed for bankruptcy, while Neumann is reportedly living comfortably in a new mansion in Miami.
Neumann, who was ousted from WeWork in 2019, purchased two properties in Miami for $44 million in 2021 and has been building a 14,500-square-foot mansion there.
Despite WeWork's financial troubles, Neumann still has a net worth of $1.7 billion and owns several luxury properties, including a home in the Hamptons and three apartments next to Gramercy Park in New York City.
Neumann launched a new company called Flow in 2022, which operates in the residential real estate space and received an initial investment of $350 million from Andreessen Horowitz.
Morale at WeWork is reportedly 'horrific', with a former staffer stating that 'there is no company culture and everybody is just watching the stock go down, down, down.'