Official WeWork press releases or major business news outlets

Adam Neumann Ends Bid to Acquire Bankrupt WeWork Once Valued at $47 Billion

May 28, 2024, 03:03 PM

Adam Neumann, co-founder and former CEO of WeWork, has ended his bid to acquire the bankrupt shared office space provider, WeWork, according to the New York Times Dealbook. Neumann, who stepped down as CEO in 2019, had been attempting to buy back the company he helped found in 2010 and build into a global enterprise valued at $47 billion before it fell into bankruptcy last year. He cited the company's bankruptcy plan as unrealistic. WeWork filed for bankruptcy in November.