Miguel McKelvey net worth is estimated to be around $2.9 billion USD, largely due to his success with WeWork. He is regarded as one of the richest people in the technology sector.
Miguel McKelvey Net Worth (2018-2023)
|2018||456 Million Dollars|
|2019||739 Million Dollars|
|2020||860 Million Dollars|
|2021||1.5 Billion Dollars|
|2022||2.9 Billion Dollars|
Miguel McKelvey Net Worth in 2023
McKelvey was listed on Forbes’ 2019 Global Billionaires List in March. He was ranked 775th with a fortune of $2.9 billion, up from $1 billion two years earlier. The magazine stopped checking his wealth in November 2019, when it estimated his fortune at $900 million.
Miguel McKelvey’s current net worth is unclear because it is not publicly available. He probably earned a sizeable wealth via his co-founding work at WeWork; however, the exact amount is unknown.
Forbes estimated that Miguel McKelvey’s net worth is around $2.9 billion as of 2023. Yet, there are a number of variables that might cause net worth to alter, including market fluctuations, company endeavors, and investments.
Who is Miguel McKelvey?
Miguel McKelvey is an American entrepreneur and architect. He was born in the United States and raised in rural Oregon. After completing his architectural studies at the University of Oregon, he spent some time working as an architect.
In 2010, McKelvey co-founded WeWork, which provides shared workspaces for a diverse global community. He noticed a need in the market for a new type of workplace that combined a professional environment and a sense of community.
McKelvey was instrumental in helping WeWork develop into a multi-billion dollar corporation with sites worldwide and designing the first WeWork location.
McKelvey is regarded as a visionary in the co-working industry and is well renowned for his creative and inventive approach to business. He has been highlighted in several publications and events as one of the best businesspeople in the technology sector.
McKelvey is well renowned for his generosity, support of environmental concerns, and commercial success. He founded the WeWork Global Impact Fund, which provides funding for impactful and sustainable programs.
The story of Miguel McKelvey is essentially one of creativity, vision, and determination.
Miguel McKelvey Wife
Miguel McKelvey’s spouse was Hiyam Khalifa, a former financing banker who spent 11 years working for Lehman Brothers. In 2013, Hiyam co-founded the cosmetics business Pucker. Miguel and Hiyam divorced in 2017.
What Happened to Miguel from WeWork?
Adam Neumann and Miguel McKelvey started the co-working space provider WeWork in 2010. The company went public in 2019; however, there were several issues with its initial public offering (IPO), including concerns about its corporate governance, business strategy, and valuation. As a result, the IPO was postponed and ultimately failed, which resulted in a sharp decline in the value of WeWork’s stock.
In the midst of the crisis, Miguel McKelvey fully quit the company, and CEO Adam Neumann resigned. WeWork has seen significant changes since then, including a management shakeup and a change in direction toward becoming a more conventional office space provider. Despite these initiatives, the business is still facing tough obstacles and an uncertain future.
In November 2021, McKelvey started working as an advisor for Known, a platform for developing financial services. Miguel joined NAYAH as a partner in March 2022.
Miguel McKelvey’s Impact on Architecture
Apart from co-working spaces, Miguel McKelvey has also made a name for himself in architecture. He has designed several iconic buildings, including the 27-story residential building at 461 Dean Street in Brooklyn, New York, and the award-winning “Garden in the Machine” installation at the 2018 Venice Biennale.
McKelvey approaches architecture distinctively and creatively, emphasizing community involvement, sustainable design, and unusual materials. He thinks good design should be beautiful, sustainable, and useful to the community.
Who got rich from WeWork?
WeWork generated large earnings for a number of people and investment firms, including co-founder Adam Neumann, who became a millionaire thanks to his ownership position in the business.
WeWork’s 2019 IPO ultimately turned out to be a disappointment for many investors and staff members, as the firm’s stock price dropped sharply in the months after the sale. SoftBank was one of the early investors who lost billions of dollars on their WeWork investments.
It’s important to note that many people, including early investors and staff, saw their wealth invested in WeWork‘s stock, which has declined significantly since the failed IPO.
In conclusion, Miguel McKelvey is a visionary architect and entrepreneur whose impact on the co-working space industry and architecture has been significant. A generation of architects, business owners, and artists have been motivated by him to create spaces that are not only functional but also inspiring and engaging. His contributions have irrevocably changed the field, and his legacy will continue to motivate future generations.
Reimagining The Workplace: Miguel McKelvey
Most Frequently Asked Questions
Q. Are Miguel McKelvey and Adam Neumann Friends?
Ans: Yes, Miguel McKelvey and Adam Neumann were co-founders and former business partners at WeWork. They are often referred to as having been friends prior to starting the company together.
Q. Who Owns WeWork Now?
Ans: WeWork is currently owned by The We Company, a publicly-traded company. However, the largest shareholder is SoftBank Group, a Japanese multinational conglomerate with a significant ownership stake.
Q. Is Miguel McKelvey Rich?
Ans: As a co-founder of WeWork, Miguel McKelvey likely has a significant net worth. However, the exact amount of his wealth is not publicly known and can only be estimated.