WeWork CEO Adam Neumann considers SoftBank's Masayoshi Son a close ally and adviser in its plan for successful growth.
Wall Street is paying close attention to WeWork, as the global coworking-space giant is preparing to go public. One investor, Masayoshi Son of the powerful Japanese holding company SoftBank, has bet more than $10 billion that it will succeed.with WeWork's cofounder and CEO, Adam Neumann, at its Manhattan headquarters last week, and he argued that his company is in better shape than critics think.
"In Masa's case, he does very well face-to-face," he said."I'll get on the plane and go to Tokyo, even if it's not always easy, and develop a personal relationship." He mentioned in our interview that in a few days he and his wife Rebekah, WeWork's chief brand officer, were headed to Tokyo to have dinner with Son.
SoftBank was planning on investing $20 billion in WeWork by the end of the year, and Neumann was weighing his options. WeWork confidentially filed for an IPO."I filed because I wanted optionality. A: The fact that we agreed on a deal doesn't mean the deal is done — which ended up being the case, because it wasn't signed yet. B: Until that moment of signature, I would still have to impose such a big move not just for myself but for the employees, for the investors, for our members.
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