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SoftBank

WeWork co-founder Neumann nears settlement with SoftBank: source

Agreement to possibly include a nearly $500 million cut in his payout

The settlement would end a legal battle between Neumann and SoftBank dating back to 2019, when WeWork's IPO plans fell apart.   © Reuters

WeWork co-founder and former Chief Executive Adam Neumann is nearing a settlement with SoftBank Group Corp that could include a nearly $500 million cut in his payout from the office space-sharing company's new owner, according to a person familiar with the matter.

The settlement would put to rest a prolonged legal battle between Neumann and SoftBank, which dates back to 2019 when WeWork's IPO plans fell apart.

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