Authorization

SoftBank is planning on paying Adam Neumann $200 million to step aside if it takes over WeWork

SoftBank is planning on paying Adam Neumann $200 million to step aside if it takes over WeWork
Kelly Sullivan/Getty Images for the WeWork Creator Awards



SoftBank would pay WeWork cofounder Adam Neuman $200 million as part of its proposed deal to take over the struggling real-estate company, a source told Business Insider.




As part of the deal, Neumann would give up his seat on WeWork's board and his voting shares, the source said.




Neumann would also agree to support SoftBank's bid, Axios' Dan Primack reported.




WeWork's board is expected to review competing bids from SoftBank and JPMorgan on Tuesday.




Read all of Business Insider's WeWork coverage here.



WeWork cofounder and chairman Adam Neumann would see around a $200 million windfall as part of SoftBank's proposed deal to take over his troubled company, a source familiar with the negotiations told Business Insider.
As part of the agreement, Neumann would give up his seat on WeWork's board and his voting shares, the source said. Axios' Dan Primack previously reported the news, adding that one of the conditions of the agreement is that Neumann support SoftBank's bid for the commercial real-estate giant.
A WeWork representative declined to comment. SoftBank representatives did not immediately respond to a call seeking comment.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Январь 2020    »
ПнВтСрЧтПтСбВс
 12345
6789101112
13141516171819
20212223242526
2728293031