Adam Neumann has run WeWork since it first got its start nearly 10 years ago. On Tuesday, he stepped down from his role as CEO.
The 40-year-old Israeli-born Neumann is worth an estimated $2.2 billion, and has come a long way from the shoe-box-sized New York city apartment he first lived in in the early 2000s.
But his co-working company, last valued at $47 billion, has been rocked by criticism and controversy since it filed its IPO paperwork in mid-August, which revealed spiraling losses. Since the paperwork was released, WeWork has suffered from a lack of investor interest, and has since announced it's delaying its plans to go public.
In the aftermath, attention turned to Neumann. Scrutiny was placed on his business investments and his complex web of personal connections within WeWork that could pose conflicts of interests. In response, WeWork announced some changes, but it wasn't enough to get the IPO back on track.
On Tuesday, Neumann announced he was stepping down as CEO in the company's "best interest," saying he was becoming "a significant distraction" to WeWork's IPO plans. He'll remain as non-executive chairman of the WeWork board, and was replaced by co-CEOs Sebastian Gunningham and Artie Minson.
Here's everything you need to know about Adam Neumann, the WeWork cofounder and ousted CEO: