Too Long; Didn't Read
The co-working space company WeWork was valued at 47 billion dollars at the beginning of 2019. At the end of the year it was valued less than 8 billion dollars by its biggest investor. CEO and Founder, Adam Neumann, was forced to resign, and 2400 of its employees had to be laid off (about 20% of its total workforce) WeWork's CEO used his position as CEO to profit from the company, taking direct loans and then using it to buy out property which he’ll then lease back to WeWork.
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