WeWork’s former CEO Adam Neumann simply offered off his large California estate for a whopping $22.four million, The Submit can report.
Neumann, 41, initially bought the property for $21.four million in 2018, property information present.
The sale follows a string of listings that the ex-chief put available on the market following his dramatic exit from the corporate in 2019.
The Israeli-born entrepreneur initially listed the seven-bedroom, seven-bathroom estate final August for $27.5 million.
Solely 15 miles north of the San Francisco Bay Space, the Corte Madera, California, property sits on 10.eight acres and spans over 12,500 sq. toes.
Recognized to some as “Guitar Home” since one of many residing areas is formed like a musical instrument, the house was designed by famend architect Sim Van der Ryn.
The trendy estate includes a pool, a spa, a water slide, an expansive garden, a cabana, a music studio, a house theatre, a racquetball courtroom and intensive natural gardens and orchards.
It additionally holds a two-bedroom, two-bathroom guesthouse.
The sale of the California estate befell on March 12, solely 5 days earlier than the controversial Hulu documentary, “WeWork: Or the Making and Breaking of a $47 Billion Unicorn,” was launched.
The documentary pegged Neumann as a “manipulative cult chief” who ran the corporate like a every day ritual.
Now, Neumann finds himself entangled in a authorized battle with SoftBank Group Corp. after the Japanese conglomerate walked away from a deal that may’ve allowed him to promote shares value as much as $970 million.
Below new management, the corporate is now anticipated to go public in a particular objective acquisition firm merger following a failed IPO two years in the past.
Neumann total, had amassed a $90 million actual estate portfolio throughout his time working WeWork – an actual estate firm that provides shared workspaces for smaller companies. It was thought of one of the vital invaluable startups on this planet on the time.
Along with the California estate, the entrepreneur and his spouse, Rebekah Neumann, just lately unloaded their Southampton farmhouse at a loss.
Final summer time, they offered their Westchester County estate for near its asking value of $3.39 million.
Additionally they listed their Gramercy duplex in Manhattan for $37 million final January, however have but to obtain any gives.
The couple, who’ve been married since 2008, share 5 youngsters, together with twins.
Most just lately, a supply near Neumann advised The Submit he was planning a comeback.
“It includes what occurred on this planet due to the pandemic,” the insider mentioned. “He’s acquired massive plans and he’s ready for the proper time to announce them.”