Adam Neumann is an Israeli American businessman and investor. He is mainly known for co-founding WeWork. He served as the CEO of the company from 2010 to 2019.
Later he co-founded 166 2nd Financial Service with his wife. He has invested millions of dollars in start-ups and real estate via his company.
With a net worth of $3 billion, Adam is enjoying the fruits of his successful career. If you are interested to know about his life and career journey, read the post below.
Contents
Quick Facts
| Full Name |
Adam Neumann
|
| Birth Date | April 25, 1979 |
| Age | 44 |
| Country of Origin | Israel |
| Nationality |
Israeli-American
|
| Profession |
Businessman
|
| Marital Status | Married |
| Parent’s Name | Unknown |
| Girlfriend |
Rebekah Neumann
|
| Social Media Accounts: | |
| Net Worth (as of 2024) | $3 billion |
| Last Updated: | Sept 27, 2024 |
Family and Early Life
Adam Neumann was born on 25th April 1979, in Tel Aviv, Israel. He was seven years old when his family shifted to the United States. He comes from a Christian family.
There’s not much known about his family members. But we do know that he moved to the US with his sister and mother. They both are physicians. His parents divorced right before they shifted to the US.
As a child, Adam was dyslexic. Due to this, he couldn’t write or read properly. After getting treated in America, he returned to Israel, where he stayed in Kibbutz Nir Am.
Education Background
As far as Adam Neumann’s education profile is concerned, he attended the naval academy of Israel. Later he joined the Israeli Navy and served there for half a decade.
After completing his service, he studied business in New York. Soon after he established his clothing line for kids.
Talking about Adam Neumann’s personal life, he owns multiple real estate in both Israel and America. He is currently settled in Greenwich, where he has a lavish mansion.
He also owns several luxury cars including Mercedes Maybach, Roll Royce Phantom, Aston Martin, Audi, and many more.
Career
Adam Neumann began his career in 2000, the year founded Krawlers, a kids clothing company. He met Miguel McKelvey in 2008, and together they established WeWork in 2010. To scale their company, they borrowed a loan of $15 million from Joel Schreiber in exchange for a 33% stake in the company.
From 2010 to 2019, Neumann served as the CEO of the company and drove it to greater heights. However, he had to face a lot of criticism because of his poor behavior.
After quitting the company in 2019, he co-founded another company with his wife. At present, he is into investments. He has invested large sums of money in startups and real estate properties.
Adam Neumann Controversies
In 2019, a Wall Street Journal highlighted several questionable actions by Adam and his wife, Rebekah Paltrow Neumann. For example, they smoked so much weed on a private jet to Israel that the owner took the jet back, leaving them stranded. The report also mentioned their extravagant spending on unrelated businesses, like a wave pool company and a daycare.
The same year, WeWork’s Board of Directors announced that Adam would be removed as CEO. It was also reported that SoftBank agreed to buy Adam’s remaining shares in the company for $1.7 billion and would pay him a $185 million consulting fee.
Earnings and Net Worth
Adam Neumann is a highly successful businessman. He moved from Israel to America in search of better opportunities. His career changed for the better after he co-founded WeWork with Miguel McKelvey. Adam led the company to success and served as the CEO from 2010 to 2019.
A vast majority of Adam’s wealth is generated through his company. Other than that he earns a sizeable income from his investment returns. He has invested in several start-ups and real estate properties.
As per Forbes, the current net worth of Adam Neumann is around $3 billion.
FAQs
1. Why did Adam Neumann step down as CEO of WeWork?
Adam Neumann stepped down as CEO of WeWork in September 2019 amid controversy surrounding the company’s financial practices, valuation, and management style. The company’s planned initial public offering (IPO) faced scrutiny, leading to Neumann’s resignation.
2. Did WeWork go public?
WeWork’s initial public offering (IPO) plans faced significant challenges and ultimately did not proceed as originally intended. The company’s valuation dropped dramatically, and the IPO was withdrawn.
3. What is Adam Neumann doing now?
After leaving WeWork, Adam Neumann has been involved in various ventures, including investing and starting new businesses.
