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A Billionaire Investor Dubbed 'the Next Warren Buffett' Tore Into Wework In A Private Letter To Clients | Markets Insider
Posted on: Jan. 24, 2020, 8:21 a.m.
A billionaire investor dubbed "the next Warren Buffett" slammed WeWork in a private annual letter to clients. Baupost Group CEO Seth Klarman blasted cofounder and ex-CEO Adam Neumann's $1.7 billion golden parachute as the "epitome of capitalist excess." "WeWork was a prosaic operating business which was branded as a VC-backed, technology-empowered, futuristic innovator with boundless possibilities," Klarman said. The coworking startup was ultimately sunk by the "hard truths of business fundamentals," he said. Visit Business Insider's homepage for more stories. ... Full investment news article