WeWork's Bankruptcy Signals Broader Collapse, Adam Neumann Remains Billionaire, Creditors Braced for Losses, Impact on Office Space Industry

WeWork, a co-working giant, filed for bankruptcy, signaling potential broader collapses in zombie companies. The company's creditors are braced for losses as its first bankruptcy court hearing begins. Adam Neumann, WeWork's founder, remains a billionaire despite the company's plunge. The bankruptcy filing offers insight into the impact of rising rates and the stalled return-to-office movement on the office space industry. The fall of WeWork reflects deepening cracks in real estate, affecting property empires on both sides of the Atlantic. The collapse of WeWork threatens to upend dozens of leases in cities like New York and San Francisco, where landlords have been grappling with a slowdown.