Co-working company filed for bankruptcy last year
Adam Neumann and several partners submitted an offer to buy WeWork out of bankruptcy for more than $500 million, putting one of the tech world’s most controversial founders a step closer to regaining control of his long-troubled start-up.
The bid adds another dramatic chapter to the saga of WeWork and its charismatic founder, the subject of books, podcasts, a television series and a movie. The co-working giant reached a peak valuation of $47 billion and became the biggest private occupier of office space in Manhattan.Ryanair chief Michael O’Leary on track for €100m bonus
It wasn’t immediately clear how Mr Neumann would finance the acquisition of the provider of shared office space, the Wall Street Journal reported. Mr Neumann, previously WeWork’s chief executive officer, and other investors including Dan Loeb’s Third Point were exploring an offer to buy WeWork out of bankruptcy, Bloomberg reported last month. Third Point isn’t involved in Neumann’s bid, said people familiar with the matter, who asked not to be identified because the information was private. A spokesperson for the firm declined to comment.
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