Founder Archives - Blossom-Eye

Adam Neumann-Wife, Kids, Instagram, Height, House, Age, Net Worth,

Adam Neumann is an Israeli-American entrepreneur who is making headlines for all the wrong reasons. The co-founder and former CEO of WeWork, and a prominent billionaire, he has since lost both his standing as the CEO of the company he started and recently, his status as a billionaire.

It has been a roller-coaster couple of months for Adam Neumann, and we look at how he went from being one of the brightest entrepreneurs to a disgraced ex-billionaire.  

What Is Adam Neumann’s Net Worth?

 As of April 2020, Adam Neumann’s net worth stands somewhere between $450 million (as reported by Bloomberg) and $750 million (as reported by Forbes).

While that figure is not something to lose sleep over, it is a far cry from what Adam’s net worth used to be only a few months ago; Neumann ended 2019 with his net worth peaking at $14 billion!

Adam is the co-founder of WeWork, an organization that specializes in providing a shared office-space for consumers. He founded the company with Miguel McKelvey and his future wife, Rebekah Neumann.

At the peak of its business, WeWork was providing shared workspaces for over 5,000 employees in 280 locations across 32 countries. 

In January 2019, when the company was rebranded the We Company, its market value was estimated to be $45 billion. 

But when the company filed for IPO in an attempt to become a publicly-traded company in August 2019, investigations upon the company returned concerns over the business practices, sustainability, and its failure to turn profit amidst growing losses.

Adam’s leadership was also called into question and among other things. He was criticized for exorbitant spending, leasing his property as WeWork office-space, and nepotism.    

READ MORE: Phil Mickelson-Golf, Wife, Height, House, Charities, Age, Net Worth

Amidst growing criticisms and concerns by WeWork’s biggest investor SoftBank, Adam stepped down as the CEO on September 26, 2019, and relinquished his majority voting rights; he was paid $1.7 billion as a result.

Things got even worse for Adam as Softbank, the Japanese holding company and WeWork’s biggest investor, pulled out of a $3-billion bailout deal on April 2, 2020. The deal was seen as a last-ditch effort to keep the company afloat amidst a disastrous couple of months.    

Adam was expected to get $970 million himself by selling his stake in WeWork, but when the deal fell through, he was left with stakes in a company that is tanking amidst the coronavirus outbreak. 

Bloomberg reported that Adam’s net worth now stands at $450 million. 

Adam Neumann, in 2020, revealed that he is planning to sue Softbank as they cost him $3 billion from backing out of their investment deals.

Real Estate

When the money was piling in for Adam, he dropped millions to buy prime real estate, his real-estate portfolio alone being estimated at $80 million. 

When the money well started to run dry, Adam hustled to offload multiple properties to cut costs.

He sold his Hamptons, New York, home in an off-the-books deal in February 2020. Adam and his wife bought the four-bedroom Water Mill farmhouse for $1.7 million in December 2012. Among other features, the house has a sun-lit kitchen with its own fireplace, a private den, a heated swimming pool, and a guest cottage.  

The house was sold for $1.25 million, with Adam enduring a loss of around $500k.

The same month, Adam also listed his New York City penthouse for sale. The two units, in New York’s high-end Gramercy Park neighbourhood, consists of a three-floor penthouse and a first-floor duplex apartment.

Adam is looking to make $37.5 million for the two units, which he bought in 2017 for $34.7 million. Adam bought four units in the high-end neighbourhood and combined two of the units into a three-floor penthouse. 

The 7,880-square-feet five-bedroom-six-bathroom living space has a media room, walk-in closet in the master suite, and a private deck.

The first-floor duplex apartment has one bedroom and two bathrooms and was used by Adam to entertain guests.        

Early Life And Childhood

Adam Neumann was born on April 25, 1979, in Tel Aviv, Israel, to mother Avivit Neumann-Orbach and father, Doron Neumann.  

When his parents got divorced, Adam and his sister, Adi, moved with their mother to the US. They ended up returning to Israel four years later, whereupon Adam enrolled in the Israeli Naval Academy and spent his obligatory term serving in the Israeli Navy for five years.

He moved to New York in 2001 and graduated from the Zicklin School of Business at Baruch College with a degree in business.

Personal Life And Marriage

While studying at Baruch College, he met his future wife and business partner, Rebekah. They hit it off immediately and got married in 2009. 

They have five children together.  

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Eric Yuan-Net Worth, Bio, Age, Founder, Personal Life, Wife, Kids

Eric Yuan is a Chinese billionaire entrepreneur. He is the founder and the CEO of Zoom Video Communications.The already successful company soared to new heights in light of the recent outbreak of COVID-19.  

According to the Bloomberg Billionaire Index, Eric Yuan is currently worth $6.37 billion.  

How Eric Yuan Became A Billionaire?

Early Beginnings: WebEx And Cisco Systems

Eric Yuan moved to Silicon Valley, California from China in 1997. He landed his first job with WebEx, a tech company that specialized in online-conferencing. When WebEx was acquired by the tech giant, Cisco Systems, in 2007, Yuan got promoted to the Corporate Vice-President of Engineering.     

Zoom Video Communications

When Eric got dissatisfied with the direction, or lack thereof, in Cisco, he resigned from his post and with 40-or-so engineers in tow, launched Zoom in 2012. 

Eric Yuan founded Zoom in 2012
Eric Yuan founded Zoom in 2012   Source: Zoom

The online-conferencing app could host remote meetings for as little as two and as many as 1000 people. 

Yuan described Zoom as:

“An enterprise-grade, affordable, all-in-one platform for video conferencing, audio conferencing, web conferencing, and IM/presence. It works on mobile and desktop devices, and in conference rooms. Its affordable, easy to use and is very scalable, so it can support collaboration groups of as few as two and as many as 500 people, all on video.”    

The broad-spectrum tool provides a variety of services like video-conferencing, screen-sharing, voice-only chat, and text-based messaging service that is highly scalable, highly affordable, and highly reliable. 

The service was rolled out to the public in January 2013 and within four months, had over a million clients. 

By June 2014, that number had proliferated to 10 million, and by February 2015, over 40 million people had been hosted by Zoom Meetings.

In January 2017, Zoom‘s valuation surpassed $1 billion and when the company went public in April 2019, its valuation was placed just under $16 billion.     

Increased Usage Amidst COVID-19 Outbreak 

Zoom transcended from a conferencing app to a risk-free socializing app in light of the recent coronavirus pandemic of 2019/2020.   

Due to the outbreak of the highly contagious pathogen, almost one-third of the world is in lockdown and people are advised to maintain social distancing and self-isolate to contain the spread.

At a time when global stock markets are tanking, Zoom has seen its revenue proliferate thanks to the coronavirus pandemic rendering social gatherings, or gatherings in general, impossible. 

From casual gathering among friends to high-stake company meetings, and everything in between, Zoom has stepped in as the go-to app. Due to its litany of features specifically geared towards web-conferencing, the app has seen increased usage in recent months. 

The number of users increased dramatically when many academic institutions adopted the conferencing app to host online classes. It also saw increased usage among individuals who use the app casually to hang out with friends, or family members, spawning a pop-culture phenomenon. 

Increase in Zoom's stocks after COVID-19 outbreak
Increase in Zoom’s stocks after COVID-19 outbreak   Source: Investopedia

From the new year to mid-March 2020, Zoom gained 2.2 million new users and saw its usage increase by 67%. Consequently, the valuation of the company also saw a monumental increase and saw its shares increase from $36 to $$160.98 per piece: an increase of 263% from the time the company first went public.  

The increased valuation saw CEO Yuan’s net worth increase by $4 billion and have a net worth that as of April 2020, stands at $6.37 billion.     

Early Life And Childhood

Eric S. Yuan was born in 1950 in Tai’an, Shandong Province, China. Born to mining engineer parents, great things were expected of Yuan; and Yuan excelled. He enrolled in the Shandong University of Science and Technology where he earned his bachelor’s and master’s degree in applied mathematics and computer science.

Yuan spent the next four years after his graduation working in Japan before deciding to move to the United States. It was during his visa application that Eric would encounter his biggest hurdle: he was denied visa eight times.   

After two years and on his ninth try, Eric was finally granted a visa to the United States. He moved to Silicon Valley, California, in 1997, when he was 27.

Personal Life And Marriage 

Eric has been married since 22 to his girlfriend from university. While a freshman, he endured a 10-hour train ride just to be with his girlfriend. The inconvenience that it caused him would be the impetus behind his innovating Zoom

Happy couple: Eric Yuan and his wife
Happy couple: Eric Yuan and his wife    Image Source: Zim Bio

In his own words, Yuan said of the experience in an interview with Medium

“I first envisioned Zoom when I was a freshman in college in China and regularly took a ten-hour train ride to visit my girlfriend (who is now my wife). I detested those rides and used to imagine other ways I could visit my girlfriend without traveling — those daydreams eventually became the basis for Zoom.”     

The happy couple is surely an example. 

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