WeWork co-founder Adam Neumann nears $500M SoftBank settlement

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2/23/2021 3:16:00 PM

Ousted WeWork co-founder Adam Neumann is reportedly nearing a settlement in his dispute with SoftBank. He could get $500 million and remain a major shareholder

Business Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.

A person with knowledge of the matter toldCNBCNeumann would get $480 million for 25% of his shares in the company. He would still remain a major shareholder in WeWork, the person said.This is about half of what SoftBank originally agreed to purchase from Neumann as part of a $3 billion deal it abandoned in 2020, when it was going to buy

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$970 million worth of shares from Neumann. Neumann sued SoftBank after it walked away from the deal.There was no guarantee that both sides would come to an agreement, the people told the Journal, but if they did, a deal could be finalized in the next few days, they said.

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