The real estate industry has “committed suicide” by allowing WeWork to become the largest occupier of office space in New York, Washington DC, and London, according to billionaire property investor Sam Zell. In a letter sent on Monday to Mayor Bill de Blasio, Mr. Zell said that he was concerned about what would happen if WeWork, which is owned by Brookfield Office Properties, opened its doors to other The company also said it unwound a $5.9 million payment to CEO and co-founder Adam Neumann for the use of the trademarked word, "We." He also criticised WeWork's corporate governance. The comments followed news that the We Company’s amended prospectus revealed it has elected Frances Frei, a Harvard Business School professor and former Uber executive, to its board, and cancelled a deal to pay Adam Neumann $5.9m for the trademarked word “We”.
The real estate industry has “committed suicide” by allowing WeWork to become the largest occupier of office space in New York, Washington DC, and London, according to billionaire property investor Sam Zell. In a letter sent on Monday to Mayor Bill de Blasio, Mr. Zell said that he was concerned about what would happen if WeWork, which is owned by Brookfield Office Properties, opened its doors to other He also criticised WeWork's corporate governance. The comments followed news that the We Company’s amended prospectus revealed it has elected Frances Frei, a Harvard Business School professor and former Uber executive, to its board, and cancelled a deal to pay Adam Neumann $5.9m for the trademarked word “We”.