This is one of the more jaw-dropping disclosures in an S1 full of jaw-dropping disclosures as WeWorks seeks to become a public company.
from it in stock, cash, loans, and other assets.
More specifically, in July 2019, just before sharing its financials to the public as part of its IPO process, the company reorganized into what it calls an"UP-C" structure, which renamed the company"We." However, the S-1 doesn't say why the board thought that Neumann's other company owned the trademark in the first place. After all, the name of his private company, We Holdings, was derived from the name of the original company, WeWork. And it's not an unrelated entity.
In Neumann's case, his shares have 20 times the voting power over all others. And it's worth pointing out, too, that Neumann controls all the votes attached to all the Class B shares, even if he doesn't actually own the shares themselves, theHe also controls all the votes attached to the 20-votes-per share Class C shares, whether or not he owns those shares directly.
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