[MobileVet]

With $700M extracted and long term leases to the company for properties that he owns... One could easily ride off into the sunset.

It will be interesting, and insightful, to see if that is the tact he takes. If he does... It will add credibility to the already strong case for this being deliberate deceit versus unchecked ignorant hubris.

[DebtDeflation]

>With $700M extracted

The $700M figure is a combination of equity sold outright and loans taken out using the equity as collateral. I have not seen any breakdown of how much falls in each category. I would not be surprised to see those loans get called in soon given the current situation and the recent governance change requiring him to pay back any profits he makes on leasing those properties to We.

[elliekelly]

(Assuming he manages to stay in control) I'm curious to see whether he/the Board follows through with all of the concessions he made in an attempt to get the IPO off the ground.

[blantonl]

He’s quoted as saying he wants to be “President of the World” and live forever. This guy isn’t riding off into the sunset.

[hef19898]

So the bank robber type who gets caught after the perfect crime for picking up a penny from the floor or for having one last job too many?

[ineedasername]

Both maybe? Trying for the We trademark money after cashing out 700m seems like picking up the penny, and the various We spinoffs seem like the job too many.

[ceejayoz]

He may wind up dragged behind the horse into the sunset, though.

[Havoc]

Modest too I see

[hef19898]

I'm not sure if any other employee in any other company could get away with something like that. Sounds like a clear conflict of interest to me. Same goes for some of Elon's and Tesla's business transactions, so. Sounds like an overall bad idea to me, just how SoftBank accepted any of it is beyond my imagination.

I'm all for letting founders cash out to a certain degree before an IPO, but 700M and the lease agreements? Bot sure if that was a good deal for investors.

[jnwatson]

Eddie Lampert, former CEO if Sears, seems to have gotten away with it.

[ineedasername]

Sears went bankrupt. In this context, for We, "getting away" with it doesn't really mean "Adam keeps the money." He got the money, there's no question there. Getting away with it has more to do with how the company fairs, so a bankrupt Sears isn't the best example.

[ivalm]

The point is who cares if the company goes bankrupt if you were able to extract enough money out of it. He extracted $700mil, that's like a 20% of regus's (their main competitor) valuation. And he did it faster and without the need for profitability.