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A billionaire investor dubbed 'the next Warren Buffett' tore into WeWork in a private letter to clients

29 days ago   |   By Business Insider

A billionaire investor dubbed "the next Warren Buffett" slammed WeWork in a private annual letter to clients.
Baupost Group CEO Seth Klarman blasted cofounder and ex-CEO Adam Neumann's $1.7 billion golden parachute as the "epitome of capitalist excess."
"WeWork was a prosaic operating business which was branded as a VC-backed, technology-empowered, futuristic innovator with boundless possibilities," Klarman said.
The coworking startup was ultimately sunk by the "hard truths of business fundamentals," he said.
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