In terms of their upcoming IPO the details are borderline unbelievable.
Wework is basically a leasing company that brands itself as a Tech company so they can get a tech valuation. It's worked, the company is valued at $47B at $1.7B revenue.
This is WeWork compared to a dominant leasing company.

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In January, SoftBank dropped another $2 billion into The We Company, bringing it to a valuation of $47 billion, according to The New York Times. SoftBank’s total investment in The We Company — including those made by its Vision Fund — is something like $10 billion, that report said. The Vision Fund, which raised about $100 billion, is backed by Saudi Arabia’s Public Investment Fund, Apple, and the government of Abu Dhabi, among others, according to Bloomberg.

Here are some interesting notes as they get closer to an IPO
If the founder dies, his wife is one of two people who gets to run the company and choose the successor.

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- Adam (founder) has lease agreements with WE where he's earning $250m from properties he owns! - The company has loaned him $30m+ dollars since 2013 at 0.64% APR, enabling him to re-invest! - $500m loan using... stock at collateral!

The founder renamed his company from WeWork to We Company and paid himself $5.9M for the trademark because his personal holding company was already called We Holdings.

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Adam dumped $700 million recently. For a public company all of the above would signal a conflict of interest.

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The S-1 form notes that Adam “currently has a line of credit of up to $500 million with UBS AG, Stamford Branch, JPMorgan Chase Bank, N.A. and Credit Suisse AG, New York Branch, of which approximately $380 million principal amount was outstanding as of July 31, 2019.”

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That loan is secured by some of The We Company’s shares. AS THE WE COMPANY GOT LARGER, THE BOARD OF DIRECTORS DECIDED TO GIVE ADAM REASON TO DO AN IPO Adam is also $97.4 million in the hole to JPMorgan Chase “across a variety of lending products, including mortgages secured by personal property,” though those “lending products” aren’t secured with We Company shares. Incidentally, JPMorgan Chase is one of the underwriters of The We Company IPO. (Others include Goldman Sachs, Bank of America, Citigroup, and Barclays. The IPO may be worth more than $122 million in fees, according to Bloomberg.)

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While Adam hasn’t taken a salary for his We Company work — neither has Rebekah — the company issued him a $7 million loan in June 2016. (It is repaid, with interest.) There are a few reasons to launch an IPO: a big one is to take on new investment. IPOs also let insiders cash out. Before 2019, Adam had not received any equity awards, the documents say. But as The We Company got larger, the board of directors decided to give Adam reason to do an IPO, so Adam received options to purchase more than 42 million shares. The breakdown of the shares in Adam’s compensation package is as follows: 9,438,481 options vest every month for five years 9,438,481 options are performance-based vesting and vest monthly for five years 7,078,861 options will also be granted monthly “if we attain a public market capitalization of $50 billion and vest monthly for a period of years after that” 7,078,861 options “meet the performance-based vesting conditions if we attain a public market capitalization of $72 billion, and vest monthly over a period of two years from that date” 9,438,481 options “meet the performance-based vesting conditions if we attain a public market capitalization of $90 billion, and vest monthly over a period of two years from that date”

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This led to the $362.1 million loan Adam got in April from The We Company to exercise his stock options. Adam repaid the loan this month by giving the shares back. “Following the settlement of this loan, the Company issued to Adam the number of profits interests equal to the number of shares surrendered by Adam in settlement of the loan.” I am not totally sure I follow this sentence, honestly, but it seems like Bloomberg’s Shira Ovide did, and here is how she describes it: “Neumann swapped out a portion of those options the company valued at more than $360 million in a complicated transaction with the company that gave him a financial instrument tied to future WeWork profits.”

Wow.