For an organization dedicated to community, WeWork has handed a stunning amount of power to CEO Adam Neumann.
Share to twitterIf WeWork CEO Adam Neumann does not contribute at least $1 billion to charitable causes in ten years he will lose some of his super-voting rights.For an organization dedicated to community, WeWork has handed a stunning amount of control—and cash—to one person.shows that chief executive Adam Neumann will hold at least 50% of shareholder voting rights after the shared-office company completes a public offering later this year.
It’s not an uncommon arrangement for tech companies with founders who remain active, including Facebook and Amazon. The trouble is that not everyone believes WeWork is a tech company, although it is valued as such because of its meteoric growth rate. “Usually a related-party transaction is done to give someone an advantage,” says Drew Bernstein, partner at public accounting firm Marcum Bernstein & Pinchuk. “What avoids the appearance of conflict of interest is not having the transaction in the first place.”
This arrangement garnered a lot of attention before the S-1 was released, although some experts now say the relatively modest scale of the real estate entanglement makes it less of a concern looking forward. As part of yesterday’s filing, WeWork laid out a plan to transfer management of the properties to the company, including a purchase option.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
26 Crazy “Legends Of The Hidden Temple” Secrets That Will Blow Your MindGuys, Kirk Fogg just carried ChapStick and granola bars in that iconic tool belt.
Consulte Mais informação »
Valee & Calboy Mind Their Business in a Burning Building in New 'Uninvited' Video: WatchIt’s a scorching Chicago affair in the new “Uninvited” music video, which Valee and Calboy shared today (Aug 16).
Consulte Mais informação »
Inside the archives — and mind — of sci-fi legend Philip K. DickFake news, revisionist histories, internet hoaxes and deepfake videos: Ours is a society defined by its own artifice, which is what Philip K. Dick was trying to tell us all along.
Consulte Mais informação »
Dread Going Back to School? These 22 Fall Fashion Must Haves Might Change Your MindI can distinctly remember spending my last days of Summer as a teenager and college student dreading the day I had to go back to school. That all changed,
Consulte Mais informação »
Stuff We Buy Ourselves: The Water Bottles Our Editors Carry'I like that the water doesn’t 'bead up' on the outside of the bottle, so I don’t need to worry about damaging any CVS coupons or other important things I have in my tote bag'
Consulte Mais informação »