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WeWork filed for bankruptcy in the US in 2022. The company struggled to recover from the effects of Covid-19 on the economy and its failed initial public offering in 2019.
The 44-year-old still has a net worth of $1.7 billion and owns millions in real estate.
Adam Neumann, the former CEO of WeWork founded the company in 2010 and by 2019, it was worth $47 billion.
In September, the CEO in a public letter emphasised that WeWork is not going anywhere and that it was immediately undergoing reworking its leases worldwide
Karan Virwani, the Chief Executive Officer of the Indian arm of the company said the ESOP surrender is yet another step towards wealth creation and empowering people