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- Adam Neumann, founder and former CEO of WeWork (OTC:WEWKQ), has made an offer of more than $500 million to buy back his former company, according to a media report.
- Even though Neumann resigned as CEO and gave up the majority vote check in September 2019, it is said that he had wanted to get back on board with WeWork for some time.
- The Wall Street Journal reported that Neumann’s lawyers sent a letter in February to the company’s advisors stressing that it was working with the hedge fund Third Point and others. Bloomberg reported in early February about a potential offering involving Third Point, led by investor Dan Loeb.
- However, people familiar with the situation said Third Point is not on board.
- WeWork filed for Chapter 11 bankruptcy protection in November 2023.