They don't have $18bn in liabilities. Total liabilities as of 12/31/17 are $2.4bn, including $1.7bn in unpaid rent [0]. They've committed to paying $18bn in ren

They don't have $18bn in liabilities. Total liabilities as of 12/31/17 are $2.4bn, including $1.7bn in unpaid rent [0]. They've committed to paying $18bn in rent on space they're currently leasing [1]. But that's not carried as a liability on their balance sheet, and barring a collapse in demand (which is a possibility that potential creditors should consider), they'll receive rent payments from clients to fund those payments as they come due. As an aside, this sort of confusion is why it's important to link to either a primary source or a good secondary source whenever possible, in my opinion. The Bloomberg article is clear on this issue, while the Business Insider article linked is just a watered-down, ambiguous summary of that article. [0] https://ftalphaville.ft.com/2018/04/24/1524606395000/More-on-WeWork-and-its-bond-offering/ https://ftalphaville.ft.com/2018/04/24/1524606395000/More-on... [1] https://www.bloomberg.com/news/articles/2018-04-24/the-18-billion-rent-bill-the-numbers-behind-wework-s-empire https://www.bloomberg.com/news/articles/2018-04-24/the-18-bi...