As WeWork Burns, Adam Neumann Finds a New Home at Saudi FII Mega Conference
Posted on 10/26/2023
The controversial WeWork Inc. co-founder Adam Neumann made headlines at the FII conference in Riyadh. He spoke about entrepreneurship at the event. Adam Neumann was able to raise large amounts of capital from SoftBank Group Corporation via its Vision Fund. The Vision Fund was backed by sovereign wealth funds including Saudi Arabia’s Public Investment Fund and Mubadala Investment Company. The Wall Street Journal reported in 2019 that Neumann had aspirations to live forever.
WeWork and its creditors are locked in talks over who will control of the firm as the end of a debt grace period approaches. WeWork’s top supporters include SoftBank Group Corporation and bondholders including hedge fund King Street Capital Management. BlackRock Inc. and Brigade Capital Management are also part of the negotiations.
Adam Neumann is now based in Miami. Adam Neumann was born in 1979 in Beersheba, Israel and lived in a kibbutz. In October 2023, Hamas made an incursion on civilians in Israel. This has drawn condemnation around the world. Israel mounted a counter-offensive in Gaza. In August 2022, it was announced that Andreessen Horowitz had invested in Neumann’s new residential real-estate company, Flow. WeWork Co-founder and former CEO Adam Neumann gave his thoughts on the deadly October 7th Hamas attack on Israel. During a recent interview on Wednesday with Andrew Ross Sorkin on CNBC, he said, “First of all, Andrew, the horrific, barbaric, sadistic acts that were committed on October 7th, I have no words to describe them.”
Neumann added that Israel has the right to defend itself and said that “there are innocent lives being lost right now on all sides, and that is always horrific.”