Adam Neumann wants to hold WeWork reins again

The ousted cofounder of co-working space provider WeWork, Adam Neumann, is trying to regain control of the now-bankrupt company by offering to buy it through his new real estate company, Flow Global.

But there’s a small issue. WeWork executives aren’t interested in Neumann’s takeover and have reportedly shut him from essential information needed to put down a bid since December.

The current CEO, David Tolley, is focused on maintaining operations rather than selling the company. But creditors of the company are divided on its future. Its largest investor, SoftBank, lost over $14 billion.

Neumann’s plan to repurchase follows WeWork’s spectacular fall from a $47 billion valuation to bankruptcy in November. But the man who founded the company wants to be the next Steve Jobs, who returned to Apple after getting fired and turned the company around.

Neumann was infamously forced out in 2019 amid criticism of his leadership and spending.

WeWork has been struggling as it has been trying to renegotiate its leases with hundreds of landlords.