3 ms·

So he is trying to buy the company he bankrupted using the money that he was giving by investors? This seems surreal. Why does he have any money at all at this

• kobalsky 3y ago
  > Why does he have any money at all at this point? wasn't one of the big points during the IPO failure that he borrowed money from the company, bought property and then leased it back to them? it seemed jail-worthy at the time
  • lazide 3y ago
    My guess is he was transparent enough about it that he was able to avoid it being a crime. In general, fraud and similar requires lying (either by omission or directly). Investors can’t complain if they were told everything up front, even if it was obviously a bad deal when they sober up later.
  • fakedang 3y ago
    It's not illegal, but it shouldn't have happened. But the board was sleeping at the wheel.
• daniel-thompson 3y ago
  one of my favorite pieces of financial journalism ever, https://www.bloomberg.com/opinion/newsletters/2019-10-23/money-stuff-how-do-you-like-we-now https://www.bloomberg.com/opinion/newsletters/2019-10-23/mon..., explains how he got the bux during wework's collapse: > [softbank's offer to rescue wework] is the result of Neumann’s holdup power: Prior to the deal, Neumann is still the company’s controlling shareholder, and he could just say no to a deal that he didn’t like. That might completely evaporate his own wealth, but it would evaporate a whole lot more of SoftBank’s, and it kind of looks like SoftBank blinked first: In effect, the price of Neumann allowing SoftBank to rescue WeWork was that SoftBank had to hand Neumann a billion dollars for himself
• cyanydeez 3y ago
  Corporations are social money laundering systems