Ouch
"WeWork is turning into a major real estate debacle. Just a few weeks ago, they valued themselves at $47 Billion USD. Turns out the $47 Billion number is also the amount due to their liabilities in lease payments.
The numbers were buried their prospectus. They readjusted their value down to $10-$12 Billion. Losing nearly $35 Billion in valuation, almost $2-$3 Billion a day.
They have only $3.4 Billion in revenue coming in, on $47 Billion in liabilities
They are losing $120,000 a minute
Losing $5,200 per customer"
https://www.youtube.com/watch?v=iq4aWV-xKA0
https://www.zerohedge.com/markets/wework-bonds-are-crashing-again
"WeWork is turning into a major real estate debacle. Just a few weeks ago, they valued themselves at $47 Billion USD. Turns out the $47 Billion number is also the amount due to their liabilities in lease payments.
The numbers were buried their prospectus. They readjusted their value down to $10-$12 Billion. Losing nearly $35 Billion in valuation, almost $2-$3 Billion a day.
They have only $3.4 Billion in revenue coming in, on $47 Billion in liabilities
They are losing $120,000 a minute
Losing $5,200 per customer"
https://www.youtube.com/watch?v=iq4aWV-xKA0
https://www.zerohedge.com/markets/wework-bonds-are-crashing-again
