Chaos, crazy ideas, and cashing in: 5 things Trump and WeWork’s Adam Neumann have in common

Michael Kovac/Getty Images for WeWork

Trump has been accused of putting personal interests ahead of the country, while Neumann has been accused of the same but in relation to his company.

Nearly 200 campaigns and political groups have spent more than $8 million at the president’s resorts and other businesses since his election in 2016, according to Politico, citing a new report from the consumer-rights group Public Citizen.

Foreign dignitaries, lobbyists, lawmakers, executives, and most of Trump’s Cabinet have stayed at or dined in the Trump International Hotel in Washington.

Other examples include Vice President Mike Pence’s stay at a Trump resort in Doonbeg, Ireland — 180 miles from his meetings in Dublin — and the president’s recent attempt to host next year’s G7 summit at Trump National Doral in Florida, claiming his administration had vetted several locations but settled on his struggling resort as the best option. He backed down under pressure from Republicans and the media.

Neumann reportedly cashed out about $700 million by selling and borrowing against WeWork stock, made millions by leasing properties to his company — giving him conflicting interests as both tenant and landlord — and sold the rights to the “We” name to WeWork for close to $6 million (he ultimately returned that payment).

Neumann has reportedly agreed a $1.7 billion golden parachute as part of SoftBank’s bailout of WeWork too. The exit package includes nearly $1 billion for most of his stock, $500 million in credit to help him pay off personal loans, and $185 million in consulting fees.

At the same time, WeWork employees have seen the value of their stock options plunge since the company scrapped its plans to go public, and they are bracing for thousands of layoffs.