Sandeep Mathrani (born 1962) is an Indian-American real estate executive and the chief executive of
WeWork
WeWork Inc. is a provider of coworking spaces, including physical and virtual shared spaces, headquartered in New York City. As of December 31, 2021, the company operated of space, including in the United States and Canada, in 756 locatio ...
, following the departure of its former CEO,
Adam Neumann
Adam Neumann ( he, אדם נוימן; born April 25, 1979) is an Israeli-American billionaire businessman and investor. In 2010, he co-founded WeWork with Miguel McKelvey, where he served as CEO from 2010 to 2019. In 2019, he co-founded a fami ...
. Prior to WeWork, he was the CEO of
GGP Inc GGP may refer to:
* Gan–Gross–Prasad conjecture, a conjecture in number theory
* Garden Grove Playhouse, a former theater group in Orange County, California
* Gateway-to-Gateway Protocol
* General game playing, in artificial intelligence
* G ...
and the retail group of its parent company
Brookfield Property Partners
Brookfield Property Partners L.P. is a global commercial real estate firm that is a publicly traded limited partnership and a subsidiary of Brookfield Asset Management, an alternative asset management company. Its portfolio includes properties ...
.
Early life and education
Mathrani was born and raised in
Gujarat
Gujarat (, ) is a state along the western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the fifth-largest Indian state by area, covering some ; and the nin ...
, India. He went to high school at
Cathedral and John Connon School
The Cathedral & John Connon School is a co-educational private school founded in 1860 and located in Fort, Mumbai, Maharashtra.[Philadelphia
Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Sinc ...](_blank)
in the United States alone at the age of 16. In 1983, he graduated from college at the
Stevens Institute of Technology
Stevens Institute of Technology is a private research university in Hoboken, New Jersey. Founded in 1870, it is one of the oldest technological universities in the United States and was the first college in America solely dedicated to mechanica ...
in
Hoboken
Hoboken ( ; Unami: ') is a city in Hudson County in the U.S. state of New Jersey. As of the 2020 U.S. census, the city's population was 60,417. The Census Bureau's Population Estimates Program calculated that the city's population was 58,690 ...
,
New Jersey
New Jersey is a U.S. state, state in the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. It is bordered on the north and east by the state of New York (state), New York; on the ea ...
, obtaining his bachelor's degree in engineering and management science. In 1986, he obtained his
master's degree
A master's degree (from Latin ) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice. in
engineering
Engineering is the use of scientific method, scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad rang ...
from Stevens.
According to Mathrani, he first got into real estate in 1986 by selling a used Nissan Sentra and using the proceeds to buy and flip an apartment building in
Washington, D.C.
)
, image_skyline =
, image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...
for a $20,000 profit.
[ In fact, he generated the funds in part by selling the Nissan and also by borrowing money using his credit card and securing a $52,000 loan from the US ]Federal Housing Administration
The Federal Housing Administration (FHA), also known as the Office of Housing within the Department of Housing and Urban Development (HUD), is a United States government agency founded by President Franklin Delano Roosevelt, created in part b ...
(FHA).Steven Roth
Steven Roth (born 1941) is an American real estate investor, the founder and chairman of Vornado Realty Trust, the largest commercial landlord in New York City. He is also co-founder and managing general partner of Interstate Properties, and cha ...
(of the Vornado real estate giant).[
]
Business career
Mathrani began as the CEO of GGP Inc. in 2011, just as the company was emerging from Chapter 11
Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whet ...
bankruptcy. He was hired away from his previous job as an executive with Vornado Realty Trust
Vornado Realty Trust is a real estate investment trust formed in Maryland in 1982, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.
Investments
Notable properties owned by the ...
, the company owned by his mentor.[ He was CEO until 2018, when it was purchased by Brookfield Property.][
In February 2020, Mathrani was brought on board as the new CEO of the struggling real estate company ]WeWork
WeWork Inc. is a provider of coworking spaces, including physical and virtual shared spaces, headquartered in New York City. As of December 31, 2021, the company operated of space, including in the United States and Canada, in 756 locatio ...
, following the ouster of its CEO Adam Neumann
Adam Neumann ( he, אדם נוימן; born April 25, 1979) is an Israeli-American billionaire businessman and investor. In 2010, he co-founded WeWork with Miguel McKelvey, where he served as CEO from 2010 to 2019. In 2019, he co-founded a fami ...
and the collapse of its IPO.
See also
* Indians in the New York City metropolitan region
Indians in the New York City metropolitan area constitute one of the largest and fastest-growing ethnicities in the New York City metropolitan area of the United States. The New York City region is home to the largest and most prominent Indian ...
References
{{DEFAULTSORT:Mathrani, Sandeep
American chief executives
American technology executives
21st-century American businesspeople
Living people
Indian emigrants to the United States
Stevens Institute of Technology alumni
1962 births
WeWork people
American people of Gujarati descent