WeWork Founder Adam Neumann Launches $700M Single Family Office

WeWork Founder Adam Neumann Single Family Office

This article is based on our research process for our US single family office database, which is also part of our global family office database. Our list includes several major US single family offices.

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Adam Neumann is the co-founder of global coworking firm WeWork. He co-founded the company in 2010. Today, WeWork is valued at $47B. In April 2019, WeWork filed for an Initial Public Offering (IPO). According to TechCrunch, Neumann now sold shares worth more than $700M in order to launch his own single family office. If you’re interested in more single family offices you should check our list of single family offices in the United States.

Development of WeWork from one office to billion-dollar-revenues

Neumann’s company WeWork started in 2010 with only one coworking office. With huge investor funding, the company soon opened further offices in New York, San Francisco, Boston and Seattle. The international expansion followed in 2014 with new offices in London, Tel Aviv and Asia. Investors of WeWork include Goldman Sachs, Wellington Management, Hony Capital or Softbank.  Revenue increased from $886M in 2017 to $1.8B in 2018. Despite filing for an IPO in 2019, the company is burning money since its inception: WeWork’s net loss in 2018 was at $1.9B (+103.6% compared to 2017).

Foundation of Adam Neumann’s Single Family Office

Through stock sales and equity-secured loans Neumann cashed out $700M from WeWork. But also after the sale, Neuman remains the single largest shareholder of WeWork. The money will be managed through his own single family office. According to Wall Street Journal, a first key hire was made: Ilan Stern will lead the Neumann Single Family Office. Stern recently supported venture capital firm General Catalyst to start a new debt fund. Before that, he also worked for the Soros Single Family Office. The name of the family office will be “166 2nd Financial Services”.  The investment focus of the family office will probably be comparable to Neumann’s personal investments. Neumann built up an $80M real estate portfolio and actively invested in startups like HomeTalk, InterCure or Selina.


Austin Distel (19.07.2019)
Crunchbase (19.07.2019)
Techcrunch (19.07.2019)
Wikipedia (19.07.2019)
Wall Street Journal (19.07.2019)

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