Adam Neumann's Next Chapter: Guiding New Ventures and Investments

Adam Neumann, an entrepreneur with a history of developing shared spaces and new ventures, has since diversified his focus. Following his tenure at WeWork, he established a family office, 166 2nd Financial Services, to oversee a substantial portfolio of investments in both real estate and various startup companies.

From Early Ventures to Co-founding WeWork

Neumann’s entrepreneurial journey began with a children’s clothing company. His interest in shared workspaces emerged when he collaborated on Green Desk, a business centered on sustainable shared office environments. This experience laid the groundwork for his next significant undertaking. In 2010, he co-founded WeWork, a company intended to foster a sense of community within shared office settings. During his leadership, WeWork grew, and Neumann received recognition as an EY Entrepreneur of the Year in 2015.

The WeWork Listing and a New Direction

In 2019 WeWork prepared for a public listing, and the disclosures in its offering filing drew mounting pressure from investors. Neumann was asked to step down: he resigned as chief executive on September 24, 2019, and gave up majority voting control of the company. In October that year The Wall Street Journal reported that he would receive close to 1.7 billion dollars from stakeholder SoftBank for leaving WeWork’s board and severing most of his ties to the company. In the same year, he co-founded 166 2nd Financial Services with his wife, Rebekah Neumann. This family office was created to manage personal wealth, with a strategic emphasis on investing in real estate and a range of venture startups. This move marked a new phase, focusing on capital deployment across diverse sectors.

Expanding Investment Horizons

Beyond the direct management of 166 2nd Financial Services, Neumann has engaged in a variety of other investments and new company formations. His portfolio includes stakes in an Israeli cannabis company and a startup for tech investors, both initiated in 2018. He also invested in a hospitality company during the same period. In 2020, he acquired a significant equity stake in a multimodal shared mobility company. More recently, in 2022, he launched Flow, a residential real estate startup that manages properties in multiple locations. He also supported Flowcarbon, a startup focused on tokenizing carbon credit trading using blockchain technology. His entrepreneurial activities continued with the acquisition of a lifestyle magazine in 2024, which was subsequently rebranded. In late 2024, a new coworking business, Workflow, was announced, designed to utilize spaces within properties managed by Flow or other landlords without relying on long-term leases.

A Consistent Focus on Property

Throughout his career, a consistent thread has been Neumann’s involvement in real estate. During his time as CEO of WeWork, he engaged in practices such as purchasing buildings and then leasing them back to the company. His personal property acquisitions included multiple residences across different states. This enduring interest in property is reflected in the investment strategy of 166 2nd Financial Services and the subsequent launch of Flow, his residential real estate venture.