Here's how WeWork's infamous co-founder Adam Neumann just lost his billionaire status. (via CNBCMakeIt)
as CEO of the company in September, citing the "significant distraction" of the public scrutiny of his leadership.it would bail out WeWork by investing another $3 billion that would give the Japanese company control of the start-up. The deal valued WeWork at roughly $8 billion, or less than one-fifth the company's valuation just eight months earlier.
At the same time, Neumann agreed to give up his voting rights in WeWork and walk away from the executive board of the company he founded in 2010 as an "eco-friendly co-working space." In exchange, SoftBank paid the co-founder a $185 million "consulting fee" and gave him a credit line of $500 million. Neumann would also have the right to sell as much as $970 million of his WeWork shares to SoftBank upon the close of the deal.
However, with SoftBank now deciding to terminate that deal, Neumann will no longer be able to cash in his WeWork shares under that agreement.by the New York State Attorney General over allegations of self-dealing, will instead hold onto a larger chunk of WeWork shares. Neumann had a reported
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
SoftBank Says It Won’t Buy WeWork Co-Founder Neumann’s SharesJapanese tech giant SoftBank terminates an offer to pay up to $3 billion for shares in office-space provider WeWork, depriving co-founder Adam Neumann of a potential windfall of nearly a billion dollars
Leer más »
SoftBank confirms it's abandoning a $3 billion WeWork deal - Business InsiderSoftBank confirms abandoning its plan to buy $3 billion worth of WeWork shares, citing 'significant' criminal and civil investigations
Leer más »
WeWork troubles deepen as SoftBank pulls $3 billion tender offerSoftBank Group Corp said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis.
Leer más »
Adam Sandler Unveils ‘Quarantine Song’ On ‘Jimmy Fallon’ For Nation’s Doctors And NursesAdam Sandler is teaching math to his kids, and as he sings in his newly unveiled “Quarantine Song,” that can’t be good for America. Sandler debuted the song on last night’s …
Leer más »
Adam Sandler salutes doctors and nurses with quarantine song on 'Jimmy Fallon'https://www.youtube.com/watch?v=F1axBGWFm4U Adam Sandler gave us a comedic musical anthem to the 'doctors and nurses' who are going to 'save us from this mess.' The Uncut…
Leer más »