Entrepreneurs

Behind the WeWork founder's $700M "cash out"

WeWork founder and CEO Adam Neumann
WeWork co-founder and CEO Adam Neumann, speaking earlier this year in L.A. Photo by Michael Kovac/Getty Images for WeWork.

WeWork co-founder and CEO Adam Neumann is under scrutiny based on a Wall Street Journal report that he's "cashed out more than $700 million from the company ahead of its IPO through a mix of stock sales and debt."

Behind the scenes: A source tells Axios that around $300 million was in the form of stock sales, most recently via an October 2017 tender offer from WeWork investor SoftBank. The remainder was loans.

Budding branding

Rapper Wiz Khalifa performs onstage during the 'Dazed & Blazed Summer 2018 Tour' at Austin360 Amphitheater while smoking a blunt on stage
Wiz Khalifa onstage Aug. 25, 2018 in Austin, Tex. Photo: Rick Kern/WireImage

Barely a day goes by without another trade show where starry-eyed (or, perhaps, glassy-eyed) cannabis entrepreneurs gather to tout their products — with creatively named brands like Schnazzleberry, Lucky Charms and Train Wreck.

The big picture: There are hundreds of trade shows showcasing thousands of brands, and even a thriving industry of weed-specific branding consultants and marketing agencies.