WeWork’s co-founder and CEO Adam Neumann has faced criticism for his various ties with the company in the past, including having stakes in buildings that WeWork rented.
The company’s paperwork released Wednesday ahead of a planned initial public offering gives a closer look into the financial and familial links between Neumann, WeWork, and some of the banks the company works with.
To avoid possible conflicts, Neumann has agreed not to buy more properties that could be leased to WeWork.
The document also lays out unusual agreements with Neumann’s wife, Rebekah.
Read all of BI’s WeWork coverage here.
Adam Neumann, co-founder and CEO of The We Company, has been criticized in the past for perceived conflicts of interest between his investments and WeWork.
The company’s paperwork for its planned initial public offering shows that WeWork has taken steps to address the CEO’s entanglements when it comes to real estate, but it also shed light on Neumann’s other personal ties.
In January, the Wall Street Journal reported that Neumann had made millions by leasing a handful of buildings that he owns back to WeWork. At the time, a spokesperson said that all transactions involving WeWork executives go …read more
Source:: Businessinsider – Tech