People sometimes think you were fired as CEO. What is the truth of how you left?

Adam Neumann
Replied byAdam Neumann

Founder & CEO at WeWork

Niche: Marketplace
Revenue: Not Publicly Disclosed/month
Location: Miami, Florida, USA
Started: 2021

I had full control over the board and the votes. I had to choose to step down. People sometimes think I was fired because the Wall Street Journal said so. Not true. I stepped down because I was told by one of the heads of two of the biggest banks in the world that if I stepped down they would fund two billion into WeWork and take care of my personal debt of 460 million. I thought it was the best choice for the company, for the employees, for Masa, for everyone. I stepped down to become executive chairman, not to disappear. And nine minutes later a legal letter arrived from the bank saying because of change of control I had 15 days to repay my debt or they would take my shares. Which because of my super voting rights would have given them control of the company. That was not a coincidence. If you are going to stab the king, kill. If you are not going to kill, I am going to come back.

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