London Daily

Focus on the big picture.
Friday, Aug 01, 2025

Billionaire Oracle cofounder Larry Ellison calls embattled WeWork 'almost worthless'

Billionaire Oracle cofounder Larry Ellison calls embattled WeWork 'almost worthless'

Oracle's billionaire cofounder and CTO, Larry Ellison, said WeWork is "almost worthless" in a scathing indictment of the company's business model. Ellison offered a scathing take on WeWork's business model: "WeWork rents a building from me, and breaks it up, and then rents it. They say, 'We're a technology company, and we want a tech multiple.' It's bizarre."

The billionaire Oracle cofounder and Chief Technology Officer Larry Ellison reportedly called WeWork "almost worthless" in a scathing indictment of the embattled office-coworking company.

He made the statement during a meeting with entrepreneurs on Wednesday at his home in the Pacific Heights neighborhood of San Francisco attended by Barron's.

"WeWork rents a building from me, and breaks it up, and then rents it," Ellison said, according to Barron's. "They say, 'We're a technology company, and we want a tech multiple.' It's bizarre."

 Ellison's statements came amid weeks of news stories battering WeWork as the company attempts to go public.

 The company was privately valued at $47 billion when it filed an S-1 in mid-August for an initial public offering. One month later, WeWork's parent company was said to have been mulling going public at a valuation of $10 billion to $12 billion.

It has paused its IPO - it was originally supposed to go public this month but is now said to be aiming for the end of the year.

The story of what happened is complex and ongoing, but one particular thread stands out from the past month of WeWork news: CEO Adam Neumann's repeated self-dealing while leading the company.

 The company's S-1 revealed that Neumann owned several properties that WeWork leased from him and that he sold the rights to the word "We" to WeWork for nearly $6 million. He has since given back the money for the naming rights and committed to giving his profits from the related real-estate deals back to the company.

WeWork and Neumann have received plenty of criticism in the past month, including from Scott Galloway, the New York University Stern School of Business professor, bestselling author, and tech-industry pundit, who deemed the company "WeWTF" after it filed its S-1.

 Former Twitter CEO Dick Costolo piled on this week as well.

 "This is not the way everybody behaves," Costolo told The Wall Street Journal in a profile of Neumann. "The degree of self-dealing in the S-1 is so egregious, and it comes at a time when you've got regulators and politicians and folks across the country looking out at Silicon Valley and wondering if there's the appropriate level of self-awareness."

A WeWork representative declined to respond to Ellison's criticisms.

Newsletter

Related Articles

0:00
0:00
Close
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
×