WSJ News Exclusive | WeWork’s Adam Neumann to Get Extra $50 Million Payout in SoftBank Settlement

WeWork co-founder and former Chief Executive Adam Neumann is set to reap an extra $50 million windfall and other benefits as part of an agreement that would settle a bitter dispute he and other early investors in the shared-office-space provider have waged with SoftBank Group Corp. , according to people familiar with the matter., the parties are closing in on a deal in which SoftBank, WeWork’s majority shareholder, would buy about $1.

But part of the deal not previously reported sets Mr. Neumann apart from other shareholders. It calls for SoftBank to give the 41-year-old the $50 million special payout and extend by five years a $430 million loan it made to him in late 2019, the people said. SoftBank is also slated to pay $50 million for Mr. Neumann’s legal fees. It isn’t clear how much it is paying for the other shareholders’ legal fees.

The settlement between SoftBank, Mr. Neumann and the other shareholders isn’t final and the terms could still change, the people cautioned. Should the parties reach agreement, potentially in the next few days, it would avert an early-March trial.

He’s probably rolling a bunt tonight

No words for this. NONE.

This guy is just way too smart I mean the way he fck a bank and a company before the IPO lol a true TheyWorked for him

As a former employee this is abhorrent and disgusting. He may have founded the company but we did the work. The rich get richer

💀

WeWorkAdam can i have some

good I was worried about him

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WeWork co-founder Adam Neumann nears $500M SoftBank settlementOusted 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 For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her lisaMakT Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ BITech G status BITech Ew
Source: BusinessInsider - 🏆 729. / 51 Read more »

SoftBank reaches settlement with former WeWork CEO NeumannSoftBank Group Corp said on Friday it has reached a settlement with WeWork's special committee and the company's co-founder and former chief executive, Adam Neumann, putting to rest a legal battle dating back to 2019. wow KingSalman why don’t you run SoftBank_Group 🤲 After all money is from your land 🌎🤲😘 Attn: OPECnews BorisJohnson coe ASEAN coe federalreserve SenateFloor wef IMFNews ecb UN ☝️
Source: Reuters - 🏆 2. / 97 Read more »

Ousted WeWork CEO Adam Neumann actually helped the company secure its SPAC merger, according to a reportBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »

SoftBank settles WeWork lawsuit, leaving embattled co-founder with windfallThe pact announced Friday ends a legal fight over a stock transaction that collapsed, eliminating the need for a March 4 trial in Delaware.
Source: latimes - 🏆 11. / 82 Read more »

Adam Kinzinger says the battle with Trumpism has to be fought in publicRep. Adam Kinzinger, R-Ill., has been the most outspoken Republican critic of former President Trump over the past few months because he believes that in the modern political age, open confrontation is the primary way political parties are steered one direction or another. It's said when you do the correct things and get ridiculed because of it. Adam stand your ground. I AGREE... Lincoln_Party_ Love RepKinzinger !!! The brave & intelligent face of COURAGE!!!
Source: YahooNews - 🏆 380. / 59 Read more »