Disgraced Adam Neumann spends his days SKATEBOARDING near $44M Florida mansion after his start-up WeWork collapsed into bankruptcy

WeWork may be bankrupt, but its founder Adam Neumann and his wife have been living the sunny life in south Florida, where he now spends his days skateboarding and looking for new investors. 

Neumann, 44, bought the two adjacent waterfront properties in 2021 for $44million - just weeks after he was ousted from WeWork and handed a nearly $1billion golden parachute under accusations of mismanagement and fostering a toxic work environment. 

The company has since filed for bankruptcy, but Neumann and his wife Rebekah, a cousin of Gwyneth Paltrow, have reportedly been living peace in Bal Harbour, just 10 minutes from their pals and fellow New York City exiles Ivanka Trump and Jared Kushner. 

The Israeli-American and his family have become a big presence in the Jewish community in the affluent area, and he is often seen skateboarding and socializing - and still looking for investors for his next idea, as reported by The New York Post.

Neumann is reportedly touting a new world-changing idea around Miami, saying it will reshape how people 'live at home' as he claims 'I’m a creator, not a destroyer.'

'Adam skateboards all the time, all over town, taking business calls. Everybody runs into him — he’s very friendly. He stops and kibitzes with people,' a source told the outlet.

While Neumann has been working the town as he looks for investors, Rebekah, 45, has reportedly been keeping a low profile and taking care of their six children.

The properties, which total 50,000 square feet, offer multiple slips in the marina. As part of the deal, Neumann received a $1million allowance for unfinished construction.

At the time of the purchase Neumann said one of the parcels is being used to build a 14,000-square-foot home. The other parcel was an empty lot. Put together, the two hug 360 feet of coastline.

Hard-partying Neumann was once seen as a star of the business world, but his reputation was left in tatters after investors balked at his tequila-fueled management style and eccentric ways, derailing plans for a 2019 IPO. 

While Neumann's investors were willing to entertain his eccentricities after co-founding WeWork in 2010, his free-wheeling ways and party-heavy lifestyle came into focus once he failed to get the company's IPO underway. 

Neumann oversaw one of the biggest business implosions in recent history, after WeWork's valuation plunged from $47billion in early 2019 to less than $8billion later that year.

In total, the company had raised some $11billion from investors to build a company that is still worth less than that today.

The company supplies shared office space, an internet connection, cleaning service and a reception desk, making it popular with small firms and tech startups.

Rumors of the company filing for bankruptcy have dogged them for some time, after telling regulators that there is 'substantial doubt' about its ability to stay in business over the next year.

Shares of the flexible workspace provider fell 32 percent in extended trading after the Wall Street Journal first reported the news. They have fallen roughly 96 percent this year.

Last month WeWork said it had entered into an agreement with creditors for temporary postponement of payments for some of its debt, with the grace period nearing an end. 

The company had net long-term debt of $2.9 billion as of June end and more than $13 billion in long-term leases, at a time when rising borrowing costs are hurting the commercial real estate sector.

It was a stunning reversal of fortune for the company that was privately valued at $47 billion in 2019 and a black spot for investor SoftBank that sunk billions.

The company has been in turmoil ever since its plans to go public in 2019 imploded following investors' skepticism over its business model of taking long-term leases and renting them for the short term and worries over its hefty losses.

WeWork's woes did not abate in subsequent years. It finally managed to go public in 2021 at a much-reduced valuation. Its major backer, Japanese conglomerate SoftBank, sunk tens of billions to prop up the startup, but the company has continued to lose money.

The company raised 'substantial doubt' about its ability to continue operations in August, with numerous top executives, including CEO Sandeep Mathrani, departing this year.

Since his WeWork exit, Neumann has been trying to gather support for his startup Flow, which promises to build 'rental communities that will foster a feeling of ownership and community.'

He has claimed the company will transform how people interact with their homes and give them with a sense of ownership even though they're renting. 

To illustrate the idea he said tenants would plunge their own toilets instead of calling supers.