WeWork is STILL giving ousted CEO sweeteners: Adam Neumann took stock award worth $245M in February to clear way for public listing - bringing his total exit package to $1BILLION

UK Daily Mail ^ | May 27, 2021 | Keith Griffith

[C19fan]

Ousted WeWork founder Adam Neumann continues to receive lucrative considerations from the company, with a newly revealed stock award worth $245 million bringing the total value of his exit package to nearly $1 billion.

Neumann was granted the enhanced stock award in February as part of a renegotiation of his 2019 exit package, intended to smooth the way for WeWork's public listing, according to regulatory filings first reported by the Wall Street Journal.

Hard-partying Neumann was once seen as a star of the business world, but his reputation was left in tatters after investors balked at his tequila-fueled management style and eccentric ways, derailing plans for a 2019 IPO.

[C19fan]

The poster child of everything wrong with modern day capitalism. Back in the day a fraud like this would have been handed a pistol and allowed a honorable way to exit.

[Jonty30]

It’s the Tulip mania mentality that is behind what is happening. Everybody is looking for a repeat of Microsoft or Apple 1 million-fold from a single share and hoping cash in.

The WeWork guy is smart enough to take advantage of this stupidity.

[buckalfa]

"The WeWork guy is smart enough to take advantage of this stupidity."

I guess the guy deserves praise in a crony capitalism way. Then condemnation is due since such behavior has created ripeness for full blown socialism in America.

[billyboy15]

This is or at the time this happened a privately help company and as such I don’t see why anyone has a problem with what they pay anyone.

If Donald Trump opted to give one of his children a billion or so dollars for a b’day present that is entirely his business and perfectly legal.

[Rebelbase]

“intended to smooth the way for WeWork’s public listing,”

How does this company stand a chance of making it in today’s market when its business model is essentially that of a real estate agency leasing office space in its own buildings?

[rb22982]

That is a healthy exit package. I am happy to nearly destroy your company for a small fraction of that!