History of Adam Neumann in Timeline

Adam Neumann is an Israeli-American billionaire entrepreneur best known for co-founding WeWork in 2010, serving as CEO until 2019. Following his departure from WeWork, he established a family office, 166 2nd Financial Services, with his wife Rebekah to manage their investments in real estate and startups.

April 25, 1979: Birth of Adam Neumann

Adam Neumann was born on April 25, 1979.

2008: Marries Rebekah Neumann

Adam Neumann married Rebekah Neumann in 2008.

2008: Founds Krawlers and Begins Work on Green Desk

Before establishing WeWork, Adam Neumann founded a children's clothing company called Krawlers. In 2008, he partnered with Miguel McKelvey, whom he met through a mutual friend, to start Green Desk, a sustainable shared-workspace business. Green Desk would later become the precursor to WeWork.

2010: Founds WeWork

Adam Neumann and Miguel McKelvey sold their stake in Green Desk and, with a $15 million investment from Joel Schreiber in exchange for a 33% stake in the company, they founded WeWork in 2010.

2010: Whalebone Magazine Founded

Whalebone magazine was founded in 2010.

2012: Purchases Top Floors of the Woolworth Building

In 2012, Adam Neumann, Ken Horn of Alchemy Properties, and Joel Schreiber jointly purchased the top floors of the Woolworth Building for US$68 million with the intention of converting them into condominiums.

2015: Receives EY Entrepreneur of the Year Award

Adam Neumann received the EY Entrepreneur of the Year award in 2015.

2017: Donates to "Be the Match Registry"

Adam Neumann and his wife made a $1 million donation to the "Be the Match Registry" of the National Marrow Donor Program in 2017.

2018: Partners with InterCure and Invests in Startups

Adam Neumann became a partner at InterCure, an Israeli cannabis company, in 2018, and made investments in EquityBee, a startup for tech investors, and Selina, a hospitality company.

2018: Incident on Private Flight

During the summer of 2018, Adam Neumann was involved in an incident involving a chartered Gulfstream G650 flight from the US to Israel, during which he and friends were smoking marijuana. After landing, the flight crew found marijuana and reported it, leading to the jet's owner ordering it to return to the US, forcing Neumann and his friends to book a separate flight back.

2018: Named One of Time Magazine's 100 Most Influential People

Time magazine included Adam Neumann in its list of the 100 most influential people of 2018.

September 2019: Ambitions and Claims Reported by Media

In September 2019, various publications, including The Wall Street Journal and Vanity Fair, reported on Neumann's aspirations for longevity, wealth, and political influence. The reports included claims of his desire to become the world's first trillionaire, colonize Mars, and hold prominent political positions.

September 22, 2019: WeWork Directors Plan to Ask for Neumann's Resignation

Reports emerged on September 22, 2019, indicating that WeWork directors were planning to request Adam Neumann's resignation as CEO due to concerns about his behavior and drug use, which came to light before a planned IPO. The Wall Street Journal reported that he had withdrawn $700 million from WeWork before the IPO, raising concerns among investors and impacting his standing within the company.

September 24, 2019: Resigns from WeWork

On September 24, 2019, Adam Neumann resigned from his position at WeWork, and Artie Minson and Sebastian Gunningham were appointed as his successors.

September 26, 2019: Resigns as CEO of WeWork

Due to pressure from investors, Adam Neumann stepped down from his role as CEO of WeWork on September 26, 2019.

October 2019: Receives Severance Package from SoftBank

In October 2019, it was reported that Adam Neumann would receive a severance package worth nearly $1.7 billion from SoftBank in exchange for leaving WeWork's board and cutting ties with the company.

2019: Co-founds 166 2nd Financial Services

Adam Neumann co-founded the family office 166 2nd Financial Services with his wife, Rebekah Neumann, in 2019.

April 2020: Net Worth Drops, Removed from Forbes Billionaires List

Adam Neumann's net worth dropped significantly, and he was removed from Forbes's list of billionaires in April 2020.

2020: Invests in GOTO Global

In early 2020, Adam Neumann invested US$10 million in GOTO Global, a multimodal shared mobility company, acquiring a 33% equity stake.

2020: Publication of "Billion Dollar Loser"

The book "Billion Dollar Loser", chronicling the rise and fall of WeWork and Neumann's role, was published in 2020.

January 2021: Hires Defamation Lawyer

Adam Neumann hired renowned defamation lawyer Tom Clare to defend his reputation in January 2021.

February 24, 2021: Receives Partial Consulting Fees from SoftBank

By February 24, 2021, Adam Neumann had received approximately $130 million of the agreed $185 million in consulting fees from SoftBank before the payments were halted.

May 2021: WeWork Merges with BowX Acquisition

The May 2021 securities disclosure filings were made in conjunction with WeWork's merger with BowX Acquisition, a special-purpose acquisition company.

May 27, 2021: Renegotiated Severance Package with SoftBank

On May 27, 2021, the Wall Street Journal reported a renegotiated severance package between Adam Neumann and SoftBank, replacing the one from October 2019. Neumann received $106 million in cash, in addition to the $92.5 million in consulting fees he had already received. The new deal also allowed him to refinance $432 million in debt and sell $578 million worth of WeWork stock. He also received a new stock award, but it was contingent on WeWork's share price remaining above a certain level.

2021: Returns to Forbes Billionaires List

Following WeWork's public listing via a SPAC merger in 2021, Adam Neumann's net worth saw a resurgence, and he rejoined the Forbes Billionaires List.

March 2022: Shifts Focus to Property Investment in Miami

Adam Neumann shifted his investment focus toward real estate in Miami starting in March 2022.

May 2022: Launches Flowcarbon

In May 2022, Adam Neumann was reported to be behind Flowcarbon, a new startup focused on tokenizing carbon credit trading using blockchain technology.

August 2022: Launches Flow, a Residential Real Estate Startup

In August 2022, Adam Neumann launched Flow, a residential real estate startup, with funding from the venture capital firm Andreessen Horowitz.

2022: Rejoins Forbes Billionaires List

Adam Neumann returned to the Forbes's billionaires list in 2022.

2022: Elizabeth Holmes Conviction

In 2022, Elizabeth Holmes was convicted of wire fraud, a case that drew parallels to Neumann's situation at WeWork in some media coverage.

2022: Portrayal in "WeCrashed"

The Apple TV+ series "WeCrashed", released in 2022, featured Jared Leto portraying Adam Neumann, offering a dramatized account of the WeWork saga.

2022: Emmy Award for DealBook Summit Interview

The New York Times won an Emmy Award in 2022 for "DealBook Summit: One-on-One With Adam Neumann", an interview featuring Neumann and hosted by Andrew Ross Sorkin.

May 2023: Defamation Claim and Retraction

In May 2023, The Spectator published and later retracted an article comparing Neumann's actions at WeWork to those of convicted fraudster Elizabeth Holmes. Neumann claimed defamation, leading to an amendment clarifying that he did not intentionally deceive investors or engage in illegal activities.

2023: Expected Launch of Flow

In August 2023, Andreessen Horowitz invested in Adam Neumann's new residential real estate company, Flow, with an expected launch in 2023.

February 2024: Net Worth at $2.2 Billion

As of February 2024, Adam Neumann's net worth is listed at $2.2 billion.

May 2024: Acquires Whalebone Magazine

In May 2024, Adam Neumann acquired Whalebone, a bimonthly lifestyle magazine based in Montauk, New York, which was renamed Flow Trip following the sale.