WeWork Founder Miguel McKelvey Buys American Giant Clothing Brand

August 2024 · 1 minute read

Three years after leaving WeWork Inc., the company’s other founder, Miguel McKelvey, is using some of his earnings to fund an eclectic mix of business interests ranging from sneakers to a social center for seniors. He’s also seeking to parlay a controlling stake in the clothing maker American Giant into an ambitious, if not quixotic, plan to revitalize US manufacturing.

McKelvey paid $10 million last year for a controlling stake in American Giant, a made-in-the-USA apparel brand that became famous in 2012 for creating a sweatshirt called “the greatest hoodie ever made.” His ownership of the fashion brand, which hasn’t been previously reported, is part of a larger vision he has for his post-WeWork life. He said he wants to revitalize American factories and restore them as economic drivers.

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