Yet Mr. Neumann will receive roughly $1.7 billion in consideration as part of the SoftBank deal, according to the people with knowledge of the offer. The Tokyo-based technology giant will buy roughly $1 billion worth of WeWork shares from him, and give him about $500 million worth of financing to repay a credit line from JPMorgan. Mr. Neumann also will receive a $185 million consulting fee.I want to go on record to state that I am open to this type of deal. I am willing to ruin a company and walk away with $1.7 billion in cash. Heck, I will settle for the $185 million consulting fee, and I will even promise to do some consulting work.
Tuesday, October 22, 2019
Falling Up
The WeWork story opened a new chapter with SoftBank, WeWork's largest investor, agreeing to take it over. The deal values WeWork at $8 billion, much lower than the $47 billion value SoftBank figured WeWork was worth in January. WeWork's founder Adam Neumann will come out of this deal in fine fashion. According to the New York Times' DealBook:
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