In a dramatic turn of events, WeWork, real estate company is deduced to run out of money in Mid November 2019. WeWork had earlier seen the $12 billion investments and were in plans to launch an IPO to raise more funds. However, SEC found out serious shortcomings while WeWork IPO filing. The company has around $47 billion dollars in lease obligations.
WeWork has now two choices for the bailout. Selling a controlling stake to SoftBank for $10 billion or $5 billion financing package by J.P. Morgan. The reports say that, WeWork intends to choose J.P Morgan over SoftBank. Both the companies are outside partners of WeWork.