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October 11, 2019 10:30 am

Forbes Writes Adam Neumann Off Billionaires List

avatar by CTech Staff

Adam Neumann, CEO of WeWork, speaks to guests during the TechCrunch Disrupt event in Manhattan, in New York City, NY, US. May 15, 2017. Photo: REUTERS/Eduardo Munoz/File Photo.

CTech – Ousted WeWork CEO Adam Neumann is off of Forbes‘ list of the world’s wealthiest people. The financial media company has updated Neumann’s status on Thursday, from an estimated net worth of $4.1 billion earlier this year to just $600 million. Forbes cited WeWork’s failure to complete an initial public offering in September and Neumann’s forced resignation from the company he co-founded as the causes of Neumann’s financial nosedive. The Israeli coworking entrepreneur has been on the list since 2016, when he had amassed an estimated personal wealth of $1.5 billion.

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