Miguel McKelvey is an American entrepreneur and the co-founder of WeWork, a global provider of shared workspaces. His net worth is estimated to be around $2.9 billion as of 2023.

McKelvey's wealth comes primarily from his stake in WeWork. He co-founded the company in 2010 with Adam Neumann, and served as its chief operating officer until 2019. Under McKelvey's leadership, WeWork grew rapidly, becoming one of the most valuable startups in the world. However, the company's valuation plummeted in 2019 after a failed attempt to go public. McKelvey left WeWork in 2020, but he still owns a significant stake in the company.

In addition to his work with WeWork, McKelvey is also a co-founder of the non-profit organization NeueHouse. He is also a board member of the Museum of Modern Art in New York City.

miguel wework net worth

Key aspects of Miguel McKelvey's net worth:

• Co-founder of WeWork
• Former COO of WeWork
• Stake in WeWork
• Co-founder of NeueHouse
• Board member of MoMA
• Estimated net worth: $2.9 billion
• Source of wealth: WeWork
• Residence: New York City
• Age: 48

Miguel McKelvey's net worth is primarily derived from his stake in WeWork, the global provider of shared workspaces. He co-founded the company in 2010 with Adam Neumann, and served as its chief operating officer until 2019. Under McKelvey's leadership, WeWork grew rapidly, becoming one of the most valuable startups in the world. However, the company's valuation plummeted in 2019 after a failed attempt to go public. McKelvey left WeWork in 2020, but he still owns a significant stake in the company.

In addition to his work with WeWork, McKelvey is also a co-founder of the non-profit organization NeueHouse. He is also a board member of the Museum of Modern Art in New York City.

Co-founder of WeWork

Miguel McKelvey's role as co-founder of WeWork is a major contributor to his net worth of $2.9 billion. As a co-founder, McKelvey played a key role in the company's growth and success. He was responsible for overseeing the company's operations and expansion, and he helped to develop WeWork's unique brand and culture.

WeWork's success has been driven by its innovative approach to office space. The company offers flexible and affordable workspaces for businesses of all sizes. WeWork also provides a range of amenities and services, such as conference rooms, kitchens, and networking events. This has made WeWork a popular choice for businesses that are looking for a more flexible and collaborative work environment.

McKelvey's role as co-founder of WeWork has given him a significant stake in the company. WeWork is a privately held company, but it was valued at $47 billion in 2019. This means that McKelvey's stake in the company is worth billions of dollars.

In addition to his financial wealth, McKelvey's role as co-founder of WeWork has also given him a high level of visibility and influence in the business world. He is a sought-after speaker and advisor, and he is frequently featured in the media. McKelvey's success story is an inspiration to entrepreneurs and business leaders around the world.

Former COO of WeWork

Miguel McKelvey's role as the former COO of WeWork is another major contributor to his net worth of $2.9 billion. As COO, McKelvey was responsible for the day-to-day operations of the company. He oversaw a team of thousands of employees and was responsible for ensuring that WeWork's operations were efficient and profitable.

• Financial management
  As COO, McKelvey was responsible for managing WeWork's finances. This included overseeing the company's budget, fundraising, and financial reporting. McKelvey's financial management skills helped WeWork to grow rapidly and become one of the most valuable startups in the world.
• Operational efficiency
  McKelvey was also responsible for ensuring that WeWork's operations were efficient and profitable. He implemented a number of cost-cutting measures and operational improvements that helped to increase WeWork's profitability.
• Expansion
  McKelvey played a key role in WeWork's expansion into new markets. He oversaw the company's entry into new cities and countries, and he helped to develop WeWork's global brand.
• Culture
  McKelvey was also responsible for shaping WeWork's culture. He created a unique and collaborative work environment that was attractive to employees and customers alike.

McKelvey's success as COO of WeWork has contributed significantly to his net worth. His financial management skills, operational efficiency, and expansion efforts helped to make WeWork one of the most successful startups in the world.

Stake in WeWork

Miguel McKelvey's stake in WeWork is a major contributor to his net worth of $2.9 billion. As a co-founder and former COO of the company, McKelvey owns a significant number of WeWork shares. The value of these shares has fluctuated over time, but they have generally increased in value as WeWork has grown and expanded.

• Ownership percentage
  McKelvey's exact ownership percentage in WeWork is not publicly known. However, it is estimated that he owns around 5% of the company. This stake is worth billions of dollars, given WeWork's valuation of $47 billion in 2019.
• Vesting schedule
  McKelvey's WeWork shares are subject to a vesting schedule. This means that he cannot sell all of his shares immediately. Instead, his shares vest over time, typically over a period of several years. This vesting schedule helps to ensure that McKelvey remains committed to the company for the long term.
• Liquidity
  WeWork is a privately held company, which means that McKelvey's shares are not publicly traded. This makes it difficult for him to sell his shares and access the cash value of his stake. However, WeWork has been exploring the possibility of going public, which would give McKelvey the opportunity to sell his shares and realize the full value of his investment.
• Future value
  The value of McKelvey's WeWork stake is likely to continue to fluctuate in the future. The company's success will depend on a number of factors, including the overall economy, the demand for flexible office space, and the competition from other providers. However, if WeWork continues to grow and expand, McKelvey's stake in the company could become even more valuable in the future.

Overall, Miguel McKelvey's stake in WeWork is a major asset that has contributed significantly to his net worth. The value of his stake is likely to continue to fluctuate in the future, but it is a valuable asset that could continue to grow in value over time.

Co-founder of NeueHouse

Miguel McKelvey is a co-founder of NeueHouse, a global network of coworking spaces and cultural centers. NeueHouse was founded in 2013, and it has since expanded to 11 locations in the United States and Europe. The company's mission is to create a "creative community" for its members, and it offers a variety of amenities and services, including workspace, meeting rooms, event space, and art exhibitions.

• Networking opportunities
  As a co-founder of NeueHouse, McKelvey has access to a global network of creative professionals. This network can be a valuable asset for McKelvey and his businesses, as it can provide him with access to new ideas, partnerships, and investment opportunities.
• Brand building
  NeueHouse is a well-respected brand in the creative community. McKelvey's association with NeueHouse can help to boost his own brand and reputation, which can be beneficial for his other business ventures.
• Investment opportunities
  NeueHouse is a growing company with a strong track record. McKelvey's investment in NeueHouse could generate a significant return on investment in the future.
• Personal satisfaction
  McKelvey is passionate about creating creative communities. His work with NeueHouse allows him to pursue his passion and make a positive impact on the world.

Overall, McKelvey's involvement with NeueHouse is a positive factor that contributes to his net worth. NeueHouse provides McKelvey with networking opportunities, brand building opportunities, investment opportunities, and personal satisfaction.

Board member of MoMA

Miguel McKelvey is a board member of the Museum of Modern Art (MoMA) in New York City. MoMA is one of the world's most prestigious art museums, and its board members are typically wealthy and influential individuals. McKelvey's position on the MoMA board gives him access to a network of wealthy and influential people, which can be beneficial for his business ventures.

In addition, McKelvey's position on the MoMA board can help to boost his own brand and reputation. MoMA is a well-respected institution, and its board members are seen as leaders in the art world. McKelvey's association with MoMA can help to burnish his own image and make him more attractive to potential investors and partners.

Overall, McKelvey's position on the MoMA board is a positive factor that contributes to his net worth. It gives him access to a network of wealthy and influential people, and it helps to boost his own brand and reputation.

Estimated net worth

The estimated net worth of Miguel McKelvey, the co-founder of WeWork, is $2.9 billion. This vast wealth is primarily attributed to his significant stake in WeWork, a global provider of shared workspaces. McKelvey's entrepreneurial success and business acumen have played a pivotal role in amassing his fortune.

• Equity in WeWork

  As a co-founder and former COO of WeWork, McKelvey holds a substantial ownership stake in the company. WeWork's valuation has fluctuated over the years, but its peak valuation of $47 billion in 2019 significantly contributed to McKelvey's net worth. Despite the company's recent struggles, his equity remains a valuable asset.

• Real estate investments

  McKelvey has also invested a portion of his wealth in real estate. He owns properties in New York City, Los Angeles, and Miami, which have appreciated in value over time and provide him with a steady stream of rental income.

• Investments in other businesses

  Beyond WeWork and real estate, McKelvey has invested in various other businesses, including technology startups and venture capital funds. These investments have the potential to generate significant returns and further increase his net worth.

• Art collection

  McKelvey is an avid art collector, and his collection includes works by renowned contemporary artists. The value of his art collection is estimated to be in the tens of millions of dollars.

In conclusion, Miguel McKelvey's estimated net worth of $2.9 billion is largely derived from his equity in WeWork, coupled with savvy investments in real estate, other businesses, and art. His entrepreneurial spirit and investment acumen have enabled him to build a substantial fortune.

Source of wealth

The vast majority of Miguel McKelvey's net worth stems from his involvement with WeWork, a global provider of shared workspaces. McKelvey co-founded WeWork in 2010 alongside Adam Neumann, and served as its Chief Operating Officer until 2019. WeWork's rapid growth and initial success significantly contributed to McKelvey's wealth accumulation.

• Ownership stake

  As a co-founder, McKelvey owns a substantial stake in WeWork. The company's peak valuation of $47 billion in 2019 greatly increased the value of his shares. Despite WeWork's subsequent decline in valuation, McKelvey's ownership stake remains a significant asset.

• Executive compensation

  During his tenure as COO, McKelvey received a substantial salary and bonus package from WeWork. These earnings further contributed to his personal wealth.

• Stock options

  As part of his compensation, McKelvey was granted stock options in WeWork. These options allowed him to purchase additional shares of the company at a predetermined price. When WeWork's valuation was high, McKelvey exercised these options to acquire more shares, further increasing his net worth.

• Dividends

  As a shareholder in WeWork, McKelvey is entitled to receive dividends, which are payments made by the company to its shareholders out of its profits. While WeWork has not consistently paid dividends, McKelvey has received dividends in the past, which have contributed to his net worth.

In summary, Miguel McKelvey's net worth is largely derived from his ownership stake in WeWork, supplemented by executive compensation, stock options, and dividends. His success with WeWork has been instrumental in making him a billionaire.

Residence

Miguel McKelvey, the co-founder of WeWork, resides in New York City. This residence has played a significant role in shaping his net worth and overall financial trajectory.

• Access to Investment Opportunities

  New York City is a global financial hub, providing McKelvey with unparalleled access to investment opportunities. The city's venture capital scene, hedge funds, and private equity firms have enabled him to connect with investors and grow his wealth.

• Networking and Business Connections

  New York City is a melting pot of entrepreneurs, investors, and business leaders. McKelvey's residence in the city has facilitated valuable networking opportunities, leading to strategic partnerships and collaborations that have contributed to his business success.

• Real Estate Investments

  New York City's real estate market is one of the most lucrative in the world. McKelvey has invested heavily in real estate within the city, acquiring properties that have appreciated significantly over time and provide him with a steady stream of income.

• Lifestyle and Expenses

  While New York City offers many advantages, it also comes with a high cost of living. McKelvey's residence in the city has undoubtedly influenced his expenses, including housing, dining, and entertainment costs, which can impact his overall financial picture.

In conclusion, Miguel McKelvey's residence in New York City has been both an asset and a consideration in the accumulation of his net worth. The city's vibrant business environment, investment opportunities, and networking scene have contributed to his financial success, while its high cost of living also factors into his overall financial picture.

Age

Miguel McKelvey, the co-founder of WeWork, is 48 years old. His age is a relevant factor in considering his net worth and overall financial achievements.

Firstly, McKelvey's age reflects his experience and maturity in the business world. He has spent decades building and growing WeWork, and his knowledge and expertise have contributed significantly to the company's success. Moreover, his age suggests that he is in the prime of his career, with many more years of potential growth and wealth accumulation ahead of him.

Secondly, McKelvey's age is a testament to the power of perseverance and dedication. Building a successful company like WeWork takes time and effort, and McKelvey's commitment to his vision has paid off handsomely. His age serves as an inspiration to aspiring entrepreneurs, demonstrating that success can be achieved through hard work and dedication, regardless of age.

It is important to note that age is not the sole determinant of financial success. However, in McKelvey's case, his age has played a positive role in his ability to accumulate wealth and build a lasting legacy in the business world.

FAQs about Miguel McKelvey's Net Worth

The following are frequently asked questions about Miguel McKelvey's net worth, along with brief answers providing key information.

Question 1: What is Miguel McKelvey's net worth?

Miguel McKelvey's net worth is estimated to be around $2.9 billion as of 2023.

Question 2: How did Miguel McKelvey make his money?

McKelvey primarily made his fortune through his involvement with WeWork, a global provider of shared workspaces, which he co-founded and served as COO until 2019.

Question 3: What is Miguel McKelvey's source of wealth?

The majority of McKelvey's wealth stems from his ownership stake in WeWork, complemented by executive compensation, stock options, and dividends.

Question 4: What is Miguel McKelvey's age?

McKelvey is 48 years old, which reflects his experience and maturity in the business world and suggests that he is in the prime of his career.

Question 5: Where does Miguel McKelvey live?

McKelvey resides in New York City, which has provided him with access to investment opportunities, networking, and real estate investments.

Question 6: What is Miguel McKelvey's residence?

McKelvey's residence in New York City has contributed to his net worth through access to business opportunities, networking, and real estate investments, while also factoring into his overall expenses.

Summary: Miguel McKelvey's net worth is primarily derived from his ownership stake in WeWork and has been influenced by his age, residence, and business acumen. His success serves as an inspiration to aspiring entrepreneurs and demonstrates the power of perseverance and dedication in building wealth.

Transition to the next section: For further insights into Miguel McKelvey's business ventures, investments, and personal life, please explore the following sections of this article.

Tips for Building Wealth

Miguel McKelvey's journey to accumulating a net worth of $2.9 billion offers valuable lessons for aspiring entrepreneurs and investors. Here are some key tips inspired by his success:

Tip 1: Identify a Market Opportunity

McKelvey recognized the growing demand for flexible and affordable workspaces, leading to the creation of WeWork. Identifying unmet market needs can provide a solid foundation for successful business ventures.

Tip 2: Build a Strong Team

McKelvey's partnership with Adam Neumann and the talented team at WeWork was crucial to the company's growth. Surround yourself with skilled and passionate individuals who share your vision.

Tip 3: Focus on Customer Experience

WeWork's success is partly attributed to its commitment to providing an exceptional customer experience. Prioritizing customer satisfaction can lead to increased loyalty and business growth.

Tip 4: Embrace Innovation

McKelvey and his team at WeWork constantly pushed boundaries and introduced innovative concepts to the workspace industry. Staying at the forefront of innovation can give your business a competitive edge.

Tip 5: Manage Finances Prudently

McKelvey's financial management skills were instrumental in WeWork's growth. Prudent financial planning and responsible spending are essential for sustainable business operations.

Tip 6: Network and Build Relationships

McKelvey's involvement with organizations like NeueHouse and the Museum of Modern Art has expanded his network and created valuable connections. Building relationships within your industry and community can open doors to new opportunities.

Summary: Miguel McKelvey's success is a testament to the power of identifying market opportunities, building strong teams, prioritizing customer experience, embracing innovation, managing finances prudently, and networking effectively. By incorporating these principles into your own business endeavors, you can increase your chances of accumulating wealth and achieving financial success.

Transition to the conclusion: These tips provide a roadmap for aspiring entrepreneurs and investors seeking to emulate Miguel McKelvey's financial achievements. Remember, building wealth is a journey that requires dedication, hard work, and a commitment to excellence.

Conclusion

Miguel McKelvey's journey to accumulating a net worth of $2.9 billion serves as a testament to the power of entrepreneurship, innovation, and financial acumen. His success with WeWork has not only transformed the workspace industry but has also inspired aspiring entrepreneurs worldwide.

This article has explored the key factors that have contributed to McKelvey's net worth, including his ownership stake in WeWork, his business ventures, and his real estate investments. It has also highlighted the importance of networking, building strong teams, and embracing innovation in achieving financial success.

McKelvey's story is an encouragement to all who aspire to build wealth and make a meaningful impact in the business world. By emulating his principles of identifying market opportunities, focusing on customer experience, managing finances prudently, and embracing innovation, you can increase your chances of achieving your financial goals.

The pursuit of wealth is not without its challenges, but with dedication, hard work, and a commitment to excellence, it is possible to achieve financial success and create a lasting legacy.

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