Goldman Sachs CEO Solomon says the bank’s investment in WeWork is still profitable at this time

David Solomon of Goldman Sachs & Co.

Patrick T. Fallon | Bloomberg | Getty Images

Goldman Sachs CEO David Solomon says the bank’s stake in WeWork is still profitable, even after the company suffered a number of valuation cuts and is faced a bailout crisis.

“That was an investment we made a number of years ago at a lower valuation,” Solomon told CNBC’s Wilfred Frost on Thursday. “At the current mark, even if it went down from here, we still have a profit in the remaining position.”

WeWork has gone through a vicious cycle of scrutiny in the past few months, as the co-working space provider’s IPO was put on hold while its valuation suffered multiple cuts. WeWork is now poised to run out of money by the middle of next month.

This story is developing. Please check back for updates.

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