The Newest Home Purchase For Michael Gross – Photo – Coldwell Banker/Hilton & Hyland
As the We Company — better known as WeWork — mulls a widely rumored IPO, pundits continue to debate the $47 billion mega-unicorn’s longterm financial viability. The currently unprofitable, Manhattan-based co-working space behemoth is looking to raise $4 billion in debt financing this year and has already raked in $8.4 billion from confident investors, though it continues to post hundreds of millions in quarterly losses. But finances aside, the firm’s epic growth and reach cannot be denied — the nine-year-old startup has over 5,000 employees and 100,000+ members across hundreds of locations worldwide.
And any perceived business concerns, real or imagined, haven’t dissuaded WeWork’s top execs from investing their healthy personal earnings into luxury real estate. Take CEO Adam Neumann, who recently inked a $35 million deal for a four-unit Manhattan spread. And then there’s vice chairman Michael Gross, who earlier this month forked over exactly $28 million for a remarkably fancy tennis court estate in Brentwood, out on L.A.’s perennially desirable Westside.
Read and see the images at ‘WeWork’s Michael Gross Buys Mansion in Brentwood‘