The Knight of Wands

The Knight of Wands – Adam Neumann

When the Knight of wands card appears, its symbol is straightforward. It means that it is a great time to get away. The card should inspire and energize the person who pulled it to make changes. There is never a dull moment when the Knight of Wands is around. Be warned – pulling a reversed knight of kings indicates impatience, instability and recklessness. In finances, it signifies a loss of some kind or participating in mindless spending or gambling. You are prone to lose more than you anticipated at the present moment. Thus, it is advisable to be particularly cautious right now.

Adam Neumann’s History

  • Moved from Israel to the US in 2001 (at 22).
  • In college, started 2 businesses. A collapsible heeled shoe business (which failed, obviously) and a baby clothes with built-in knee-pads company (which did ok and is still around but Neumann isn’t involved).
  • Started “Green Desk” (an earth-friendly co-working company) in 2008 with his business associate/friend (McKelvey).
  • In 2010, Neumann and McKelvey sold their Green Desk shares for $3 million and started WeWork.
  • WeWork expanded, providing co-working spaces in commercial buildings in over 120 cities/ nearly 40 countries. Was valued in 2020 at $47 billion.
  • SoftBank CEO Masayoshi Son invested $10 billion in WeWork.
  • Neumann spent A LOT of money (lots of fancy homes, weird new startups like powdered coconut water)
  • Neumann was known to do other weird and offensive things like make everyone only bring vegan food to the office, but order lamb when out with potential investors.
  • In 2019, WeWork filed for an IPO, which revealed the company’s money-losing. For example; $1.6 billion in losses on $1.8 billion in revenue in 2018.
  • The IPO filing also showed issues like:
    • the company paying Neumann almost $6 million for the trademark rights to the word “we” when the company changed it’s name to “We Company” in 2019 (Neumann ended up paying the money back).
    • Neumann’s wife was one of three people who’d get to decide who the next CEO was if Neumann couldn’t do it anymore.
    • Neumann had special shares in WeWork that gave him 20 votes per share and majority control. (In an amended IPO, the his power was limited)
  • WeWork’s board of directors met after hearing criticism of Neumann and Masayoshi Son (amongst others) supported removing him as CEO.
  • Neuman stepped down as CEO later in 2019 (voluntarily, apparently) and the company postponed its IPO.
  • About a month later, Neumann left WeWork’s board of directors. Softbank (Masayoshi Son) was given control of the company as part of a $.95 billion bailout plan. Neumann was offered a $1.7 billion exit package, but in April 2020, it was withdrawn because SoftBank became aware of multiple significant civil and criminal investigations into WeWork.

Sources:
• Tarot Card Meanings – Labyrinthos
• The career rise and fall of Adam Neumann – Business Insider