Tuesday 22 October 2019

Days before bailout, WeWork founder scrambled for $100M loan

As WeWork hustled to secure a rescue package, its former CEO was under intense pressure to shore up his own finances. Last week Adam Neumann paid a $150,000 deposit to secure a $100 million loan to refinance his interest in a Chelsea development site, people familiar with the matter told The Real Deal. The move came as lenders, chief among them JPMorgan, were pressuring him to repay hundreds of millions of dollars that he had



source https://therealdeal.com/national/2019/10/22/days-before-bailout-wework-founder-scrambled-for-100m-loan/

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