WeWork’s Adam Neumann arguably got what he deserved when he lost his golden parachute. SoftBank pulling out of the $3 billion tender offer for WeWork doesn’t hurt the company as much as it hurts founder Neumann and the ones close to him.
WeWork’s new Indian-origin CEO Sandeep Mathrani revives lost causes but his appointment smells of growing scepticism inside the ranks at SoftBank, trying to save the unicorn and clear Adam Neumann’s mess.
In case of leaving a company or getting terminated, an employee is handed a Severance Package subject to some terms and conditions. Recently, WeWork Founder Adam Neumann got 1.7 billion in the package.
Japanese telecommunications giant SoftBank is taking control of WeWork, and it is giving WeWork founder Adam Neumann the equivalent of approx $1.7 billion to sever most of his ties with the startup, according to The Wall Street Journal.
The WeWork co-founder’s abrupt fall from the billionaire ranks is the result of the co-working company’s failure to complete an initial public offering, pulling its plan 47 days after publicly releasing an offering statement filed with the Securities and Exchange Commission.
Adam Neumann co-founded WeWork and was the CEO taking his unicorn to a blockbuster IPO. But that was before he became the latest victim of a growing global trend where differences in views with VCs and Investors lead to unresolvable…
The Company with three subsidiaries recently filed its IPO prospectus and plans to go public by next month.