Alex Spiro, known for his legal accomplishments with billionaire Elon Musk during the takeover of Twitter Inc., is now assisting Adam Neumann in his attempt to purchase back WeWork Inc. The seasoned lawyer, a partner at Quinn Emanuel Urquhart & Sullivan, began as Neumann’s counsel towards the end of 2023, as per an informed person.
Co-founder of WeWork, Neumann, along with other investors such as Dan Loeb’s Third Point, are considering offering to purchase the co-working space provider out of bankruptcy. Neumann’s real estate startup, Flow, and these investors are contemplating buying the entire corporation or its assets, as noted in a February 5 letter written by Spiro and obtained by Bloomberg Law.
More than a year after he aided Musk in the $44 billion takeover of Twitter, Spiro’s involvement in Neumann’s WeWork bid signifies not just his interest in the legal realm, but also in corporate and activist spaces. The litigator, who has represented high-profile clients like Jay-Z and Megan Thee Stallion, had previously shared that he’s been approached to head an activist hedge fund, as stated in an interview with the New Yorker.
WeWork, represented by Kirkland & Ellis, declared Chapter 11 bankruptcy protection in New Jersey last November, detailing $19 billion of liabilities and $15 billion of assets. The company revealed that it regularly receives expressions of interest from external parties, which are evaluated ‘with a view to acting in the best interests of the company’ in a statement to Bloomberg News.
Spiro, who continues to work closely with Musk, led the Tesla CEO’s defense in a trial over fraud charges alleged by shareholders following Musk’s tweet about securing funding to take Tesla private. In February 2023, a federal jury cleared Musk.
Furthermore, Spiro represented entrepreneur Charlie Javice, accused of defrauding JPMorgan Chase & Co. in its $175 million acquisition of her college-loan-planning site. A court report revealed Spiro’s billing rate of $2,025 per hour.