Private wealth execs at JPMorgan and UBS told us they're lending more against private shares. WeWork CEO Adam Neumann has borrowed from both.
Banks are building out lending to ultra-rich individuals, some of whom include Silicon Valley execs with a lot of wealth tied up in private shares.
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The lenders have also been vocal about leveraging relationships between wealth management and investment banking.
Neumann has a WeWork share-backed line of credit of up to $500 million from Credit Suisse, JPMorgan, and UBS, with some $380 million principal outstanding as of July, according to the coworking giant's August S-1 filing.
Tech companies have raised billions of dollars from sources outside of venture capital like Fidelity and T. Rowe — but there's a costly downside as these investors pile on
He noted that the personal nature of the private banking relationship extends to the bank getting repaid.Read more: Business Insider
Smart dude. Expect a margin call shortly.
WeWork's shrinking IPO will erase billions from CEO Adam Neumann's payday, but he'll still likely come out a multi-billionaireAdam Neumann's exact stake in WeWork is unknown, but based on some of the available info we can estimate how bad the smaller IPO will be for him. SAI Might there some clawbacks?
The WeWork IPO is full speed ahead with roadshow to kick off as soon as Monday, sources sayWeWork’s IPO roadshow could kick off as soon as Monday, sources say, despite reported pushback from its largest investor. Not happening LOL $WE JOKE
Kris Jenner — Who Is A Millionaire FYI — Tried To Guess The Price Of Regular Groceries And It Actually Went Quite WellCelebrities — they're just like us! Kind of... How much for the guy in coveralls?
Strictly stars Emma and Anton reveal how their first rehearsal wentStrictly Come Dancing partners Anton du Beke and EastEnders star Emma Barton have shared an update from rehearsals – and it's good news
These Period Tracker Apps Are Sending Your Sexual Health Data to FacebookAccording to a Privacy International report obtained by Buzzfeed, apps like Maya and MIA Fem send user data to Facebook. Heelang 🤦🏿♂️🤷🏿♂️🙆🏿♀️😂😂
These Period Tracker Apps Are Sending Your Sexual Health Data to FacebookAccording to a Privacy International report obtained by Buzzfeed, apps like Maya and MIA Fem send user data to Facebook. One of the many reasons why I do not use them. My body is my business and not to be shared with Silicon Valley