Ex-WeWork CEO Adam Neumann sells estate for $22.4M

WeWork’s former CEO Adam Neumann just sold off his massive California estate for a whopping $22.4 million, The Post can report.

Neumann, 41, initially purchased the property for $21.4 million in 2018, property records show.

The sale follows a string of listings that the ex-chief put on the market following his dramatic exit from the company in 2019.

The Israeli-born entrepreneur initially listed the seven-bedroom, seven-bathroom estate last August for $27.5 million. 

Only 15 miles north of the San Francisco Bay Area, the Corte Madera, California, property sits on 10.8 acres and spans over 12,500 square feet. 

The home is situated on a massive 10.85 acres lot.
The home is situated on a massive 10.85-acre lot.
Via Realtor
A neutral toned hallway that connects easily to the outdoors.
A neutral-toned hallway that connects to the outdoors.
Via Realtor
The expansive gardens that overlook the valley.
The expansive gardens that overlook the valley.
Via Realtor
The expansive patio with a built-in enclave lounge.
The large patio with a built-in enclave lounge.
Via Realtor

Known to some as “Guitar House” since one of the living spaces is shaped like a musical instrument, the home was designed by renowned architect Sim Van der Ryn. 

The modern estate features a pool, a spa, a water slide, an expansive lawn, a cabana, a music studio, a home theatre, a racquetball court and extensive organic gardens and orchards. 

It also holds a two-bedroom, two-bathroom guesthouse. 

The living room shaped like a guitar.
The living room is shaped like a guitar.
Realtor.com
The pool and bar area.
The pool and bar area.
Realtor.com
The master suite boasts a wood-burning fire place and opens out to a terrace.
The master suite boasts a wood-burning fire place and opens out to a terrace.
Via Realtor
The home theatre.
The home theater.
Via Realtor

The sale of the California estate took place on March 12, only five days before the controversial Hulu documentary, “WeWork: Or the Making and Breaking of a $47 Billion Unicorn,” was released. 

The documentary pegged Neumann as a “manipulative cult leader” who ran the company like a daily ritual.  

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Now, Neumann finds himself entangled in a legal battle with SoftBank Group Corp. after the Japanese conglomerate walked away from a deal that would’ve allowed him to sell shares worth up to $970 million.

Under new leadership, the company is now expected to go public in a special purpose acquisition company merger following a failed IPO two years ago.

A WeWork office is seen in New York City on July 19, 2019.
Neumann left WeWork in 2019.
AFP via Getty Images

Neumann overall, had amassed a $90 million real estate portfolio during his time running WeWork – a real estate company that offers shared workspaces for smaller businesses. It was considered one of the most valuable startups in the world at the time.

In addition to the California estate, the entrepreneur and his wife, Rebekah Neumann, recently unloaded their Southampton farmhouse at a loss.

Last summer, they sold their Westchester County estate for close to its asking price of $3.39 million.

They also listed their Gramercy duplex in Manhattan for $37 million last January, but have yet to receive any offers. 

The couple, who have been married since 2008, share five children, including twins. 

Adam Neumann speaks onstage during WeWork Presents Second Annual Creator Global Finals at Microsoft Theater on January 9, 2019 in Los Angeles, California.
Adam Neumann amassed a $90 million real estate portfolio during his time running WeWork.
Getty Images for WeWork

Most recently, a source close to Neumann told The Post he was planning a comeback

“It involves what happened in the world because of the pandemic,” the insider said. “He’s got big plans and he’s waiting for the right time to announce them.”