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Ex-WeWork CEO Adam Neumann sells estate for $22.4M

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. 

The home is situated on a massive 10.85 acres lot.
The house is located on a large 10.85-acre lot.
Through Realtor
A neutral toned hallway that connects easily to the outdoors.
A neutral-toned hallway that connects to the outside.
Through Realtor
The expansive gardens that overlook the valley.
The expansive gardens that overlook the valley.
Through Realtor
The expansive patio with a built-in enclave lounge.
The massive patio with a built-in enclave lounge.
Through Realtor

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 living room shaped like a guitar.
The lounge is formed like a guitar.
Realtor.com
The pool and bar area.
The pool and bar space.
Realtor.com
The master suite boasts a wood-burning fire place and opens out to a terrace.
The master bedroom boasts a wood-burning hearth place and opens out to a terrace.
Through Realtor
The home theatre.
The house theater.
Through Realtor

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.

A WeWork office is seen in New York City on July 19, 2019.
Neumann left WeWork in 2019.
AFP through Getty Photographs

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. 

Adam Neumann speaks onstage during WeWork Presents Second Annual Creator Global Finals at Microsoft Theater on January 9, 2019 in Los Angeles, California.
Adam Neumann amassed a $90 million actual estate portfolio throughout his time working WeWork.
Getty Photographs for WeWork

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.” 

About the author

Tina Sanders

Tina Sanders

Tina is the mind behind Gruntstuff.com, and she ideated it when she was working for an online magazine company where she used to cover US-based headlines news. She holds a degree in journalism and has more than 4.5 years of experience in an online magazine company. She had the idea while working there but when she was quite sure about starting something on her own, she took the risk and left the job to start Gruntstuff. Since then she added a few team members, and along with them, she creates General US news content on the site.

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