Adam Neumann will reportedly leave WeWork's board for a year as part of his SoftBank settlement - and take home an extra $50 million payout

• Adam Neumann will leave WeWork's board for a year if a planned settlement with Softbank happens, Bloomberg reported.
• The deal with SoftBank also includes a $50 million payout to Neumann, WeWork's cofounder, The WSJ reported.
• This is on top of about $500 million he would get from SoftBank buying shares, as reported by the Journal Monday.

$4 in 2019 following intense public scrutiny - and now he's reportedly set to leave its board, too, under a proposed settlement deal with WeWork owner SoftBank.

The deal would end a bitter legal battle between Neumann and SoftBank, WeWork's biggest investor, who swooped in to save the shared-workspace company from bankruptcy when its $4 in 2019.

The deal, which is in advanced discussions but hasn't been finalized, could see Neumann leave his position as an observer on the company's board for at least a year, $4 reported.

After a year, Neumann would be able to request to attend meetings as an observer, meaning he wouldn't get a vote, or he could designate someone else to take his place, the sources told Bloomberg. Both of these would require approval from SoftBank, they said.

The settlement would give Neumann $50 million to cover legal fees, too, alongside a $50 million payout, sources told $4. SoftBank would also extend a $430 million loan to Neumann by five years, they said.

This is in addition to about $500 million he would get from SoftBank buying shares from early WeWork investors, as reported by the $4 Monday. The figure is about half of what SoftBank originally agreed to purchase from Neumann as part of a $3 billion deal it abandoned in 2020.

In October 2019, SoftBank agreed to purchase $3 billion in stock from investors and employees after WeWork's IPO plans fell through the month before. SoftBank's bailout package included buying $4

But $4 the next April, and Neumann sued SoftBank. Sources told Bloomberg the case is set to be resolved in a settlement, meaning the planned trial for March 4 is no longer needed.

$4 under the proposed settlement, $4 reported Monday, including about $480 million for a quarter of Neumann's shares in the company. He would remain a major shareholder in WeWork, $4 reported.

$4 in September 2019, following both the failed IPO and intense public scrutiny of Neumann's leadership style, use of company funds, and $4

$4 to step down from his position as chairman of the board at WeWork.