5 ms·
He at least had the good sense to "allow" them to use "his" WE trademark without having to pay the $15M annual fee anymore!
by disillusioned 7y ago
He at least had the good sense to "allow" them to use "his" WE trademark without having to pay the $15M annual fee anymore!
- benj111 7y agoWas it an annual fee? Its seems like it was a 1 off payment of 'only' $5.9 million https://www.businessinsider.com/wework-ceo-gives-back-millions-from-we-trademark-after-criticism-2019-9?r=US&IR=T https://www.businessinsider.com/wework-ceo-gives-back-millio...
- v77 7y agoBloomberg mentioned that Neumann probably cost himself tens, if not hundreds, of millions of dollars because of the huge negative impact of that clause, given that most of his wealth is tied up in WeWork stock. And then he ended up cancelling the deal anyways.