WeCrashed Overview
In the series WeCrashed, Jared Leto plays Adam Neumann, the co-founder and former CEO of WeWork. Anne Hathaway appears as his wife, Rebekah, WeWork’s chief brand and impact officer. By 2021, WeWork was valued at $9 billion, down from $47 billion. So where are Adam and Rebekah now?
Neumann’s Downfall
Neumann was pressured to resign in September 2019 after financial problems, struggles to gain investor backing, and SoftBank board members losing faith in his leadership abilities. The miniseries ends with Neumann being ousted and his $1.7 billion buyout package in jeopardy.
Neumann’s Ventures and Financial Situation
Neumann wanted to start a new communal way of life with ideas like co-living apartments and schools teaching "entrepreneurial superpowers." But investors did not embrace these prophet-like ideals. Neumann was eventually asked to step down as bleeding money was revealed.
Neumann received $350 million from tech venture capital firm Andreessen Horowitz this year. Neumann was once worth $14 billion but his fortune dwindled after WeWork’s failed IPO and resignation.
Neumann’s Wealth and Legacy
In the end, Neumann likely left with a substantial amount but not over $1 billion. He said he couldn’t correct that narrative but also stated, “This perception that as the company went from a $47 billion valuation down to $9 billion, that I profited somehow while the company was going down, is completely false.”