WeWork Co-Founder Cashes Out, Takes on $700M in Debt

Adam Neumann, co-founder and CEO of WeWork

NEW YORK CITY—Adam Neumann, WeWork’s founder and CEO, reportedly cashed out stock from the co-working, shared office space company and took on debt, which together totaled more than $700 million, as first reported in The Wall Street Journal.

A source with knowledge of the transaction tells GlobeSt.com that Neumann cashed out stock and took out a loan secured by other equity in the company to cover the cost of exercising stock options in the company in the future. The source says that the total bucket of equity sold and debt amounted to approximately $700 million. The person notes that some of the loans would also cover the loan costs of assets purchased which Neumann has been leasing to WeWork.