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. A billionaire investor dubbed "the next Warren Buffett" tore into WeWork in his private annual letter to clients.