The boss of Wework, the trendy office space sharing company, has made millions of dollars from taking stakes in properties and leasing them back to his company, it emerged yesterday.
The practice by Adam Neumann was disclosed in a prospectus for a debt offering by Wework last year, which showed that the company had leases on several properties in which he had stakes.
Although such a practice is not unheard of in the property industry, it is not commonplace.
