Neumann owns a stake in both the tenant and the landlord — a potential conflict of interest. Speculation has arisen over a potential conflict of interest between WeWork Founder Adam Neumann’s personal investments and the ~$20bn valuation office sharing firm. Neumann reportedly acquired a sizeable stake in 88 University Place when designer Elie Tahari bought it in 2015 for $70m. WeWork then signed a forward lease for eight of the 11 floors, giving Neumann a stake in both landlord and tenant. The entire WeWork location was subsequently leased by IBM in 2017. In an interview with Bloomberg last year, Neumann said he had no conflicts of interest.
Speculation has arisen over a potential conflict of interest between WeWork Founder Adam Neumann’s personal investments and the ~$20bn valuation office sharing firm. Neumann reportedly acquired a sizeable stake in 88 University Place when designer Elie Tahari bought it in 2015 for $70m. WeWork then signed a forward lease for eight of the 11 floors, giving Neumann a stake in both landlord and tenant. The entire WeWork location was subsequently leased by IBM in 2017. In an interview with Bloomberg last year, Neumann said he had no conflicts of interest.