- Adam and Rebekah Neumann, the founding couple behind WeWork, left the coworking company amid its disastrous IPO process.
- In March, Forbes estimated that Adam Neumann was worth $4.1 billion.
- Since then, Forbes has downgraded the ousted WeWork CEO, estimating that he is no longer a billionaire.
- Reports of the Neumanns’ real-estate purchases, philanthropic pursuits, and lifestyle indicate a lavish, high-rolling existence.
- Read all of Business Insider’s WeWork coverage here.
Adam Neumann is no longer a billionaire.
Forbes, which estimated that the former WeWork CEO was worth about $4.1 billion in March, has since reported that the company’s disastrous IPO filing ensured that Neumann no longer has billions of dollars to his name.
But for a while, Neumann and his wife and WeWork cofounder, Rebekah, seemed at home in the jet-setting billionaire crowd.
Here’s a look inside the Neumanns’ lavish lifestyle.
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The Neumanns reportedly own a $10.5 million Manhattan townhouse.
Source: Business Insider
The property is at the center of a rather expensive financial dispute, with contractors alleging that the couple has failed to fork over $1.1 million to cover unpaid bills.
Source: Business Insider
The townhouse renovation project was reportedly set to cost $6.5 million originally.
Source: Business Insider
Of course, the townhouse isn't the family's only property.
Source: Business Insider
WeWork's founding couple also reportedly bought a $35 million property in Gramercy Park ...
Source: Business Insider, The Real Deal, Wall Street Journal
... as well as residences in Westchester County ...
Source: Business Insider, The Real Deal, Wall Street Journal
... and the Hamptons.
Source: Business Insider, The Real Deal, Wall Street Journal
The Neumanns' $21 million house in the San Francisco Bay Area even has a custom guitar-shaped room.
Source: Business Insider, The Real Deal, Wall Street Journal
On the commercial front, Adam Neumann also has his hand in at least $100 million worth of commercial property and startup investments.
Source: Business Insider, The Real Deal, Wall Street Journal
Some of Neumann's more controversial moments also speak to a lavish lifestyle. The CEO reportedly once left a "sizable chunk" of weed on a Gulfstream G650 during a jaunt to Israel.
Source: The Wall Street Journal, Business Insider
The ousted CEO also reportedly prompted WeWork to buy a $60 million G650. Employees told Business Insider that bedrooms and televisions were added to the company plane to accommodate the Neumanns.
Source: Business Insider, Vanity Fair
The Neumanns pledged to donate $1 billion in 10 years, with the now-irrelevant stipulation that, if they failed to fulfill that goal, they would lose a substantial degree of control over WeWork.
Source: Markets Insider
On the WeWork front, Neumann reportedly shelled out money for a party featuring tequila shots and Run DMC ...
Source: Business Insider, The Wall Street Journal, Vanity Fair
... minutes after talking about the necessity of cost-cutting layoffs.
Source: Business Insider, The Wall Street Journal, Vanity Fair
WeWork employees told Business Insider that Neumann has a particular penchant for $140 Don Julio 1945 tequila.
Source: Business Insider
As CEO, Neumann was also chauffeured around in a Maybach car worth over $100,000 ...
Source: Vanity Fair
... and enjoyed an office "spa and ice bath," Vanity Fair reported.
Source: Vanity Fair