Posts filtered by tags: Adam Neumann[x]


 

A WeWork exec who was Rebecca Neumann's cousin regularly ran up huge expense reports before other execs ganged up and forced him out

In the summer of 2018, a woman who worked on WeWork's real estate team sent the company a document filled with allegations involving the partying lifestyle of multiple members of the team. The document sparked an internal investigation and the eventual exit of WeWork real estate executive Mark Lapidus. His expense reports per records viewed by Business Insider, while not part of the woman's allegations, offers a window into a wild lifestyle enabled by WeWork money. Read the full story: WeWork ...
Tags: London, Softbank, Trends, Las Vegas, WeWork, Signal, Business Insider, Neumann, Wynn, Adam Neumann, Encore Beach Club, ICSC, Lapidus, Mark Lapidus, International Council of Shopping Centers ICSC, Rebecca Neumann


WeWork paid over $2 million to a woman who threatened to expose claims of sex, illegal drugs and discrimination in a horrifying 50-page document

In the spring of 2018, a woman who once worked in WeWork's real estate business sent the company a 50-page document alleging drug use, sexual harassment and pay discrimination. The document, which set out the terms of a threatened lawsuit, was obtained by Business Insider. The allegations risked disrupting WeWork's meteoric rise and a planned fundraising, and sparked a flurry of activity as senior leaders sought to verify which, if any, of the claims were true.  With at least one external law ...
Tags: New York, London, Molly, Softbank, Israel, Trends, Las Vegas, WeWork, Summer Camp, Signal, Business Insider, Company, Neumann, Wynn, EEOC, Equal Employment Opportunity Commission


WeWork paid over $2 million in cash to a woman who threatened to expose claims of sex, illegal drugs, and discrimination in a horrifying 50-page document

In the spring of 2018, a woman who once worked in WeWork's real estate business sent the company a 50-page document alleging drug use, sexual harassment, and pay discrimination. The document, which set out the terms of a threatened lawsuit, was obtained by Business Insider. The allegations risked disrupting WeWork's meteoric rise and a planned fundraising, and sparked a flurry of activity as senior leaders sought to verify which, if any, of the claims were true.  With at least one external law...
Tags: New York, London, Molly, Softbank, Israel, Trends, Las Vegas, WeWork, Summer Camp, Signal, Business Insider, Company, Neumann, Wynn, EEOC, Equal Employment Opportunity Commission


Morgan Stanley's big E-Trade bet; PE firms ramp up MBA hiring; inside AMC's turnaround

    Hi readers,  I'm Michelle Abrego, a new finance editor at Business Insider, and I'm filling in for Meredith today. It was a crazy week for dealmaking. Morgan Stanley revealed plans to buy discount broker E-Trade in the biggest bank deal since the financial crisis. Rebecca Ungarino spoke to insiders to learn why the traditionally white-shoe bank is making a $13 billion play for the brokerage firm once known for its talking baby ads. The deal could be great news for wealth-management fintechs ...
Tags: Amazon, New York, Hollywood, Amc, Israel, US, Trends, Netflix, Kansas, WeWork, Sequoia Capital, Morgan Stanley, Meredith, Silver Lake, Balderton, Cincinnati


Bosses frequently slept with subordinates at WeWork

Under Adam Neumann, inter-office relationships at WeWork proliferated, according to a Business Insider investigation. In 2018, a woman on the real estate team sent the company a 50-page letter of wide-ranging allegations about the company's culture, including about relationships between colleagues and between subordinates and their managers. That document, which led to a company investigation, eventually resulted in a more than $2 million settlement. Now, WeWork's new CEO said he's leading a c...
Tags: US, Trends, Silicon Valley, WeWork, Signal, Neumann, Adam Neumann, Sandeep Mathrani, Miguel McKelvey, Business Insider WeWork, Summer Camp WeWork


Bosses sleeping with subordinates ran rampant at WeWork

Under Adam Neumann, inter-office relationships at WeWork proliferated, according to a Business Insider investigation. In 2018, a woman on the real estate team sent the company a 50-page letter of wide-ranging allegations about the company's culture, including about relationships between colleagues and between subordinates and their managers. That document, which led to a company investigation, eventually resulted in a more than $2 million settlement. Now, WeWork's new CEO said he's leading a c...
Tags: Trends, WeWork, Signal, Neumann, Adam Neumann, Sandeep Mathrani, Miguel McKelvey, Business Insider WeWork, Summer Camp WeWork


WeWork's US president — and Adam Neumann's friend — will leave days after the firm's new CEO joins

Arik Benzino, WeWork's head of US, Canada, and Israel, is leaving, sources told Business Insider.  His departure comes during the first week on the job for new CEO Sandeep Mathrani.  Mathrani named a new chief operating officer on Thursday, and more executive shakeups are likely on the way.  For more WeWork stories, click here. WeWork's head of US, Canada, and Israel is leaving, sources told Business Insider. Arik Benzino joined WeWork in August 2017, per his LinkedIn profile. A friend of Ada...
Tags: New York, Israel, US, Trends, Silicon Valley, WeWork, Signal, Business Insider, Laird, Adam Neumann, US Canada, Sandeep Mathrani, Mathrani, Arik, Benzino, Arik Benzino WeWork


Inside the 3-floor New York City penthouse ex-WeWork CEO Adam Neumann is selling for $37.5 million

Since he was ousted from WeWork six months ago, former CEO Adam Neumann has kept a low profile, mostly staying hidden from the public eye. Now, Neumann is putting a massive chunk of his property in New York City for sale. The units for sale — a three-floor penthouse suite and a second duplex apartment — are listed together for $37.5 million. Neumann faced scrutiny after WeWork's IPO filing brought into question the CEO's leadership, business model, and conflicts of interests. The IPO has since...
Tags: New York, New York City, San Francisco, Trends, Bloomberg, Manhattan, WeWork, Business Insider, Trump, Neumann, Greenwich Village, Adam Neumann, Mike Bloomberg, Gramercy Park, Irving Place, Miguel McKelvey


WeWork just announced a new COO in its first major hire under new CEO

WeWork named former Ernst & Young executive Shyam Gidumal as its new chief operating officer on Thursday. The move marks the company's first major executive appointment under new CEO Sandeep Mathrani. WeWork has hired Gidumal as COO after it tapped its head of international operations for the same role back in April. The company is also expected to make further changes to its top management under the CEO.  Visit Business Insider's homepage for more stories. Office-sharing startup WeWork on Th...
Tags: Asia, Europe, Softbank, Trends, WeWork, Bangalore, Adam Neumann, Ernst Young, Vornado, Sandeep Mathrani, Mathrani, Shyam, Sandeep Mathrani WeWork, Shyam Gidumal, Gidumal, Boston Consulting Group Gidumal


'We were kings of the world': WeWork's Adam Neumann fostered a culture of superiority at the troubled coworking startup

WeWork's cofounder and ex-CEO Adam Neumann instilled a culture of superiority at the coworking startup, according to the Financial Times. "Adam was the sun and we all revolved around him," a WeWork employee told the newspaper. "We were kings of the world." "He wanted everyone to know he was God," a SoftBank executive told the Financial Times. SoftBank CEO Masayoshi Son goaded Neumann into expanding WeWork faster by comparing it to other businesses. Visit Business Insider's homepage for more st...
Tags: Facebook, Softbank, US, Trends, Netflix, Sprint, WeWork, Son, Donald Trump, Financial Times, Neumann, Adam, Adam Neumann, Masayoshi Son, Oyo, Masa


WeWork's $60 million private jet is now on the market — see inside the ultra-luxurious Gulfstream G650ER

WeWork's Gulfstream G650ER has been placed on the market for an unspecified price. The 16-seat ultra-luxurious aircraft was extensively used by Neumann, according to employees, and was a divisive symbol during the peak of WeWork's internal struggle between employees and management. The jet was highly customized by WeWork for Neumann and included a conference table and private bedrooms, according to its listing on AvBuyer.   Visit Business Insider's homepage for more stories. A Gulfstream G650...
Tags: Apple, New York, Fcc, Singapore, Trends, Beijing, WeWork, Federal Aviation Administration, Business Insider, Neumann, Tucson, Miami Florida, Gulfstream, Las Vegas Nevada, Adam Neumann, XM


The up-and-coming talent at top PR firms like Weber Shandwick and Ketchum includes a data whisperer, crisis communications pro, and events maestro

Public relations is facing a time of great opportunity and challenge. Marketers need PR as people are getting harder to reach with traditional advertising, while demanding PR firms show their work is actually driving results. We identified 16 rising stars at top PR firms like Edelman, Ketchum, and MSL who are using data in new ways, helping their firms grow their capabilities, jumping on trends, and managing clients' crises. Read on to get a peek at them and read the full list on BI Prime. Vis...
Tags: Trends, Weber Shandwick, Travis Kalanick, WPP, Clinton, MSL, Anheuser Busch, Omnicom, Adam Neumann, Ketchum, Hill Knowlton, Mark Penn, Bailey Roy, Brian Brooks, Prosek, Edelman Ketchum


Today's the first day on the job for new WeWork CEO Sandeep Mathrani. Insiders told us why he's the guy to pull off one of the most difficult turnarounds Silicon Valley has ever seen.

Sandeep Mathrani, WeWork's new CEO, starts on Tuesday. To understand how he will likely lead the struggling coworking giant, we talked with six executives at his former company GGP. Mathrani started at the mall company GGP after his predecessors laid the foundation for a major turnaround, and he continued the plan with his operating expertise. WeWork wasn't his first stop after working at GGP's parent company — instead, he was set to be a consultant for the private-equity giant Starwood Capita...
Tags: India, Softbank, US, Trends, Chicago, Kanye West, Washington Dc, Sheldon Adelson, Starwood, Brookfield, Silicon Valley, Bill Ackman, WeWork, Nolan, Metz, Signal


WeWork is bringing in a new CEO as it tries to right the ship — here's everything that's going on inside the coworking giant

WeWork pulled its IPO in 2019 after mulling a massive valuation cut to drum up investor interest, and cofounder Adam Neumann was ousted as CEO and chairman. WeWork has been slashing jobs and selling or shuttering businesses.  WeWork has announced real-estate veteran Sandeep Mathrani as its new CEO, replacing Artie Minson and Sebastian Gunningham, who served as co-CEOs since Neumann was ousted. It's also seen a big board shakeup.  Marcelo Claure will stay on as chairman, according to The Wall S...
Tags: Google, New York, Mexico, Stanford, Wall Street, Softbank, Israel, US, America, San Francisco, Trends, Kanye West, Brooklyn, Aol, Italy, Brookfield


Private equity's data-hiring push; The top M&A bankers, ranked; Tradeweb's next move

  Hello, readers! Big mergers and acquisitions are team efforts. But at the very top, a battled-tested senior banker provides critical advice and connections that can determine a transaction's success or failure. Alex Morrell worked with financial data firm MergerLinks to publish our first-ever rainmakers list this week. You can see rankings for the top 20 M&A bankers for North American deals here.  Casey Sullivan wrote about how private-equity firms, long reliant on human judgment to pick inves...
Tags: Europe, Nordstrom, England, US, Trends, Netflix, Ubs, Merrill Lynch, Silicon Valley, Goldman Sachs, WeWork, Montreal, Meredith, Goldman, Blackstone, Fintech


T. Rowe Price calls WeWork a 'terrible investment' (TROW)

In an unusually frank letter, fund managers at T. Rowe Price derided WeWork as a "terrible investment." T. Rowe Price led WeWork's Series D financing round in 2014, which valued the company at $4.65 billion. The fund managers said they invested with the understanding that WeWork would curb its losses and growth, but that didn't happen. WeWork failed to go public last year and nearly went bankrupt instead, sending its valuation plummeting in the process. Visit Business Insider's homepage for mo...
Tags: Softbank, US, Trends, Silicon Valley, WeWork, Neumann, Adam Neumann, Wakeman, Rowe, T Rowe Price, Berghuis, Adam Neumann Neumann, Brian W H Berghuis, John F Wakeman, PitchBook Berghuis Wakeman


From Elon Musk to Tim Cook, here's where the world's most influential tech founders and CEOs went to college — and what they studied

College is where many figure out what they're actually interested in and determine the career they want to pursue. We researched the degrees and schools attended by well-known tech CEOs, many of whom launched their companies or landed on the idea for their first startup while studying at college. Here's where 52 CEOs and founders in the tech industry went to school, and what they studied. Visit Business Insider's homepage for more stories. For new college students, choosing a major can feel l...
Tags: Apple, Google, Facebook, Mark Zuckerberg, Europe, Elon Musk, Cook, Sweden, Maryland, Microsoft, Yahoo, Mba, Stanford, India, Satya Nadella, Trends


Mark Zuckerberg still dreams of space, but there's no escape from Earthly problems

Welcome to this week's edition of Trending, the newsletter where we highlight BI Prime's biggest tech stories. I'm Alexei Oreskovic, Business Insider's West Coast bureau chief and global tech editor. If this is your first time here, this is how you can get Trending in your inbox every week. This week: Facebook's space dreams have not been extinguished Way back in 2014, Facebook announced a plan to bring the internet to the skies, and it formed an internal team called the Connectivity Lab to ...
Tags: Apple, Amazon, Facebook, Mark Zuckerberg, Microsoft, China, Trends, Federal Communications Commission, Reddit, Ibm, Silicon Valley, Rob, Goldman Sachs, West Coast, Swift, SpaceX Falcon


WeWork's new CEO Sandeep Mathrani has to pull off one of the most difficult turnarounds Silicon Valley has ever seen. Insiders explain what he's like, and why he's the guy to do it.

Sandeep Mathrani, WeWork's incoming CEO, starts on February 18. To understand how he will likely lead the struggling coworking giant, we talked with six executives at his former company GGP. Mathrani started at the mall company GGP after his predecessors laid the foundation for a major turnaround, and he continued the plan with his operating expertise. WeWork wasn't his first stop after working at GGP's parent company — instead, he was set to be a consultant for the private-equity giant Starwo...
Tags: India, Softbank, US, Trends, Chicago, Kanye West, Washington Dc, Sheldon Adelson, Starwood, Brookfield, Silicon Valley, Bill Ackman, WeWork, Nolan, Metz, Signal


The man who was hired by Travis Kalanick and Adam Neumann to help Uber and WeWork through major PR crises just got a new job

Public relations powerhouse Jimmy Asci is back at CEO advisory firm Teneo after stepping away to help lead WeWork through its initial public offering and subsequent PR fiasco. Asci also represented Travis Kalanick when the former Uber CEO was ousted from that role in 2017 and has counseled several CEOs of Fortune 500 companies at Teneo. Asci returned to Teneo in early February as senior managing director after a six-month hiatus. Visit Business Insider's homepage for more stories. Jimmy Asci,...
Tags: Uber, Trends, Travis Kalanick, WeWork, Ken Burns, Neumann, Adam Neumann, ASCI, Teneo, Jimmy Asci, Teneo Asci, WeWork Asci, IPO Asci, WeWork Teneo, Neumann Asci, SVP Asci


WeWork's new CEO is tasked with seeing through a massive turnaround — 6 of Sandeep Mathrani's former colleagues told us what to expect once the hands-on real estate exec takes the reins

Sandeep Mathrani, WeWork's incoming CEO, starts on February 18. To understand how he will likely lead the struggling coworking giant, we talked with six executives at his former company, GGP. Mathrani started at mall company GGP after his predecessors laid the foundation for a major turnaround, and he continued the plan with his operating expertise. WeWork wasn't his first stop after working at GGP's parent company – instead, he was set to be a consultant for private-equity giant Starwood Capi...
Tags: India, Softbank, US, Trends, Chicago, Kanye West, United States, Washington Dc, Sheldon Adelson, Starwood, Brookfield, Bill Ackman, WeWork, Nolan, Metz, Signal


Meet Rebekah Neumann: Insiders describe the spiritual, strategic mastermind who was the driving force behind WeWork and her husband, Adam Neumann

Rebekah and Adam Neumann cofounded WeWork. After the startup's downfall last summer, and Adam's departure as CEO, the pair moved to Israel to escape media scrutiny. Rebekah Neumann has been described as a powerful influence on both WeWork and her husband.   Despite genuinely wanting to do good for mankind, Rebekah lavished in the billionaire lifestyle, even flying her hairdresser to WeWork's London Summer Camp one year. Rebekah's parents gifted her $1 million when she married Adam to buy a hom...
Tags: New York Post, Elon Musk, New York, Hollywood, London, Tibet, Steve Jobs, Ipo, Israel, Tel Aviv, San Francisco, Trends, Rebecca, South Africa, Mtv, Chelsea


Meet Rebekah Neumann: Insiders describe the spiritual, strategic mastermind who is the driving force behind WeWork and her husband, Adam Neumann

Rebekah and Adam Neumann cofounded WeWork. After the startup's downfall last summer, and Adam's departure as CEO, the pair moved to Israel to escape media scrutiny. Rebekah Neumann has been described as a powerful influence on both WeWork and her husband.   Despite genuinely wanting to do good for mankind, Rebekah lavished in the billionaire lifestyle, even flying her hairdresser to WeWork's London Summer Camp one year. Rebekah's parents gifted her $1 million when she married Adam to buy a hom...
Tags: New York Post, New York, Hollywood, London, Tibet, Steve Jobs, Ipo, Israel, Tel Aviv, San Francisco, Trends, Rebecca, South Africa, Mtv, Chelsea, Michelin


WeWork is bringing on its first female board member after losing 3 veteran directors. Here's who is still leading the office-sharing company.

Upon losing three veteran directors since its board revamp in September, WeWork is bringing in SoftBank's Kirthiga Reddy as the company's first female board member.  Since the WeWork fiasco, the coworking company has been undergoing several structural changes.  The company laid off 2,400 employees, made three CEO switches, and went from a $47 billion valuation to talk of bankruptcy in just six weeks, Business Insider reported. Here's a look at the careers of the WeWork board members consisting...
Tags: Facebook, Ebay, Ipo, India, Softbank, US, Trends, Sprint, Goldman Sachs, WeWork, SoftBank Capital, Neumann, Frankfort, Raine Group, Lenovo Group, Adam Neumann


WeWork's board shakeup sees 3 longtime directors depart. Another is leaving in April, and the company is adding its first female board member.

WeWork is shaking up its board, with SoftBank's Ron Fisher out and SoftBank partner Kirthiga Reddy taking his seat.  Reddy is WeWork's first female board member after years of criticism about the all-male board.  Steve Langman and Mark Schwartz are also off the board. Lew Frankfurt plans to resign in the coming months.   Chairman Marcelo Claure — also a SoftBank executive — said he would focus on diversifying WeWork's board and largely male leadership team.  Click here for more stories about W...
Tags: Facebook, India, Softbank, Trends, Goldman Sachs, WeWork, Financial Times, Signal, Business Insider, Fisher, Adam Neumann, Reddy, Claure, Marcelo Claure, Mark Schwartz, Sandeep Mathrani


WeWork's board shakeup sees 3 longtime directors depart. Another is leaving in April, and the company is adding its first woman board member.

WeWork is shaking up its board, with SoftBank's Ron Fisher out and SoftBank partner Kirthiga Reddy taking his seat.  Reddy is WeWork's first female board member, following years of criticism about the all-male board.  Steve Langman and Mark Schwartz are also off the board. Lew Frankfurt plans to resign in the coming months.   Chairman Marcelo Claure — also a SoftBank executive — said he would focus on diversifying WeWork's board and largely male leadership team.  Click here for more stories ab...
Tags: Facebook, India, Softbank, US, Trends, Goldman Sachs, WeWork, Financial Times, Signal, Business Insider, Fisher, Adam Neumann, Reddy, Claure, Marcelo Claure, Mark Schwartz


SoftBank-backed companies laid off more than 3,000 people in 2020 and more than 7,000 in the past year. Here's everything we know.

SoftBank-backed companies are laying off thousands of employees globally as they struggle to find paths to profitability. In the first full week of 2020, four companies – Oyo, Rappi, Getaround, and Zume – laid off a combined 2,600 employees.  In the last two months, other SoftBank-backed companies including WeWork, Uber, Wag, and Fair have also cut their ranks dramatically.  SoftBank is also seeing significant executive turnover. If you work at a SoftBank-backed company, Business Insider wants...
Tags: Uber, UK, London, Australia, China, India, Softbank, Israel, US, America, Trends, Bloomberg, Canada, New Zealand, WeWork, Getaround


WeWork TV Series Enlists ‘You’re the Worst’ Creator Stephen Falk as Showrunner

Stephen Falk has signed on as creator and showrunner of the planned limited series about the rise and fall of WeWork. The series was originally announced in December, with “Succession” star Nicholas Braun attached to play WeWork co-founder Adam Neumann. No network or streaming service is currently attached to the project, which hails from Chernin […]
Tags: News, WeWork, Stephen Falk, You're The Worst, Adam Neumann, Chernin, Chernin Entertainment, Nicholas Braun, Endeavor Content


After a tumultuous 2019, WeWork has a new CEO

Sandeep Mathrani, previously the CEO of Brookfield Properties' retail group, has deep ties to the real estate industry.
Tags: Technology, Softbank, Radio, SEC, WeWork, Adam Neumann, Marcelo Claure, Forest City Ratner, Vornado Realty Trust, Sandeep Mathrani, News Brief, V, Brookfield Properties


WATCH: Compass likely to avoid WeWork’s fate: Venture capitalists

Compass and WeWork both took massive amounts of cash from SoftBank, but experts say the two companies are actually quite different.
Tags: Video, Softbank, Events, Radio, Venture Capital, WeWork, Compass, Inman Connect New York, Adam Neumann, Paul Hurst, Brokerage, Select, Inman Connect, ICNY, Opendoor, Katerra