WeWork cofounder Adam Neumann personally invested $30 million in a startup and loaned money to its CEO. Then the CEO got fired for alleged gross misconduct
Neumann has personally invested in a number of startups with his WeWork wealth since 2013, also backing Pins, Feature.fm, Tunity, Selina, EquityBee, InterCure, and Hometalk,
AMP CEO Dave Rogers said in a statement: "AMP is considering its own legal remedies arising out of the Faraday situation, and therefore won't be commenting at this time, except to say that it is satisfied its nominees on the Faraday board acted prudently and appropriately at all times."According to the documents, Neumann loaned £90,000 to Andrew Scobie through the family office. The loan follows Andrew Scobie separately borrowing a similar amount directly from Faraday Grid.
According to the documents, the loan from Neumann was intended to pay back this earlier debt but this didn't happen. The documents, dated July, state that Scobie still owed the cash to Neumann's family office. . But the initial investment and the subsequent loan will raise further questions about Neumann's financial judgement.
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