SoftBank wired $5B to save WeWork | Adam Neumann fired #Shorts

SoftBank wired $5B to save WeWork | Adam Neumann fired

Masayoshi Son personally championed WeWork — invested $10.7B at peak. When the IPO collapsed, SoftBank wired $5 BILLION emergency rescue, fired Neumann, and paid him $1.7 BILLION on the way out.

Full 11-min documentary: https://youtu.be/jLS1oxYaCQQ?sub_confirmation=1

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Watch the full Bankrupt Giants documentary: https://youtu.be/jLS1oxYaCQQ

#Bankruptcy #BusinessDocumentary #Shorts

On August 14th, 2019, WeWork filed for IPO at a forty-seven billion dollar valuation.
Thirty-three days later, the IPO was dead, the founder was fired, and the company
was burning cash so fast SoftBank had to wire five billion dollars in an emergency
rescue just to keep the lights on. WeWork had raised twelve billion dollars from
investors. It had operating losses of one point nine billion. It paid its founder
rent for buildings it leased from him. It bought his trademark on the word "We"
for nearly six million dollars. This is how a yoga instructor turned a sublease
business into a forty-seven billion dollar bubble, and how the bubble burst in
six weeks. And how he walked away one point sev

📺 Watch the full Bankrupt Giants documentary on this story:
👉 https://youtu.be/jLS1oxYaCQQ

⏱ Chapters (in the full doc):
00:00 Intro
00:30 Act 1
03:00 Act 2
06:00 Act 3
09:00 Act 4
12:00 Act 5

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