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Adam Neumann has abandoned his plans to re-acquire WeWork after the company announced a separate bankruptcy emergence plan that excludes him. In a statement, he expressed doubts about the viability of WeWork’s new strategy, stating that it appears unrealistic and unlikely to succeed. His previous bid was around $650 million, while the chosen deal involves $450 million in equity funding and significant debt reduction. Neumann stepped down as WeWork’s head in 2019 following a failed IPO, and WeWork filed for bankruptcy in November 2023.
Porsche has revealed plans to release a hybrid version of its iconic 911 sports car. The model, which starts at $164,900, will feature hybrid technology aimed at enhancing performance while reducing emissions. The 911 hybrid will maintain the brand’s signature driving experience, combining traditional internal combustion with electric power. The move aligns with broader industry trends towards electrification and sustainability in high-performance vehicles.
MAD Architects has revealed construction progress on the Hainan Science Museum in Haikou City, China, featuring a biomorphic design inspired by natural updrafts. The 495,000-square-foot museum incorporates a silvery fiber-reinforced plastic facade, designed for Hainan’s tropical climate, and includes five above-ground floors with spaces tailored for different age groups. The museum, slated to open in 2025, aims to merge technology and nature, featuring a central atrium lit by a glass dome. The structure uses efficient design principles to minimize material waste and integrate seamlessly with its surroundings.
The Couture Council of The Museum at FIT will honor Simon Porte Jacquemus with its 2024 Couture Council Award for Artistry of Fashion. The event, which coincides with the start of New York Fashion Week, will be held on September 4 at the David H. Koch Theater. Jacquemus, founder of the eponymous fashion house, will be celebrated for his innovative garments and impactful runway shows. His work, influenced by his passion for art and his Mediterranean heritage, has garnered him several accolades, including the 2024 Neiman Marcus Fashion Innovation Award and the Order of Arts and Letters.
Luxury sneaker brand Golden Goose plans to launch an IPO in Milan, potentially valuing the company at €3 billion ($3.3 billion). The IPO follows positive investor feedback, with the company expected to be valued at 11 times this year’s estimated earnings. Golden Goose, known for its handcrafted, weather-beaten designs worn by celebrities, would join other companies benefiting from a strong European stock market. Permira, which acquired Golden Goose for €1.3 billion ($1.4 billion) in 2020, has not commented on specifics or timeline.
The house from Home Alone has hit the market again—minus the booby traps.
Mystery travel might be having a moment, but is the juice worth the squeeze?
Boston Metal pioneers a new method to produce clean steel using electricity.
Frank Lloyd Wright dreamed of turning Ellis Island into a self-contained city.
