Real estate tycoon Sam Zell slams WeWork: ‘Every single company in this space has gone broke’


Real estate tycoon Sam Zell slams WeWork: ‘Every single company in this space has gone broke’


  • Sam Zell, who amassed a nearly $6 billion fortune with roots in commercial real estate, slams office-sharing firm WeWork.

  • WeWork, which is planning an IPO, is not doing anything new, the Chicago billionaire investor says.

  • Zell points to WeWork’s net losses of more than $900 million for the first six months of 2019 on revenues of $1.54 billion.

Sam Zell, who amassed a nearly $6 billion fortune with roots in commercial real estate, is slamming WeWork, the office-sharing firm that’s widely expected to go public as early as this month.

WeWork, which rebranded itself as the We Company, is not doing anything new, Zell told CNBC on Wednesday.

“I had the privilege of investing in this kind of company once before. As a matter of fact, this kind of company began in 1956,” when office subletting emerged, Zell said in a “Squawk Box” interview...


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RSK: How do you really feel Sam? Not a We fan I take it.

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- - Volume: 7 - WEEK: 37 Date: 9/10/2019 6:32:55 AM -