WeWork is currently valued at $2.9 billion, down from $47 billion last year.

WeWork is currently valued at $2.9 billion, down from $47 billion last year.

19 May 2020: Controlling the shareholders and SoftBank in its earnings report on Monday. The current evaluation is standing at $2.9billion which comparing to last year was $47 billion and which welcomed more investors. Due to the current situation, the workers are not able to utilize the working place even though the WeWork place remains open. 

The CEO did mention that they have covered paying rent for 80% of the building they have been rented and have already collected rent from more than 70% of the tenants.

The SoftBank evaluation of $7.2billion in December is still in consideration due to the current pandemic situation across the world. WeWork also lowered its evaluation from $49billion to $10 billion last year.

SoftBank’s Vision Fund has incurred huge losses in billions whereas the CEO of SoftBank did address the situation and mention that he regret investing in WeWork.

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