Ousted WeWorkIn his first interview since leaving the company, CEO Adam Neumann stated that the private valuation of the company was $47 billion. This came amid the botched IPO.

He said that valuations made him feel right and made it clear to me that the style he was leading was correct at the time. “I think that the chase was a bit too much for me. It did, I believe.

This interview is less than one month after the company was listed on SPAC with a value of $9 billion. This valuation was much lower than the $47billion. SoftBankIn 2019, the group valued the company at

Neumann confirmed the reports. JPMorgan Chase CEO Jamie Dimon, the bank tapped with leading the IPO, convinced him to step down from the company. Talking about his lessons learned, Dimon also addressed the controversy surrounding WeWork’s $1 billion exit price.

He said that the perception that the company had a valuation of $47 billion and then dropped to $9 billion is false. It was an inaccurate narrative that he could not correct, as he was “not speaking”.

Neumann stated that he understood the sentiment and was “disappointed” for employees who lost their jobs, took less stock or received lower wages because they believed in his company. Neumann said that he didn’t intend for the company to fail, but all start-ups have risks.

He stated that equity is when you accept a share of a company’s capital. It would have been different for everyone, but it was worth $9 billion. The market is measuring it on a daily basis. I think WeWork has better opportunities today than ever before.

Neumann responded also to claims of drug and alcohol abuse at the company. Neumann said that they make “good stories for television and movies.” He stated that marijuana is the only drug known to have been used by the company, adding that WeWork was a “fun culture”.

While he didn’t respond to the suggestion of WeWork employees to share his wealth, he stated that both he (and co-founder Miguel McKelvey) have made private decisions with their money which they don’t want to disclose. Neumann said that he currently invests through his family office and is interested in cryptocurrency.