Adam Neumann, 43, left, scored a $350 million investment from Silicon Valley venture capital firm Andreessen Horowitz for his new venture, Flow, though information about the venture is scarce.
Adam Neumann, 42, who was ousted as WeWork CEO in 2019, has been buying up majority shares in more than 4,000 apartment complexes worth over $1 billion.
Disgraced WeWork co-founder Adam Neumann s 11-acre California estate dubbed the Guitar House sells for $22.4 million 10 months after being put on the market for $27.5 million
The sprawling seven-bedroom, seven-bathroom estate in Corte Madera, located 15 miles north of the San Francisco Bay Area, was snapped up by a mystery bidder on March 12
Neumann, 41, first listed the 12,500 square foot property for $27.5million in August
Neumann has been offloading his property portfolio over the last year, including his luxury Hamptons farmhouse and Westchester County estate
This comes after his dramatic fall from grace and ousting from the company he co-founded back in 2010
The eccentric businessman s unraveling came in 2019 as the company s hotly-anticipated IPO failed
People familiar with the matter say that the deal sets Neumann apart from other WeWork shareholders
The deal calls for SoftBank to shell out the 41-year-old the $50million payout and also extend a $430million loan it had given him in late 2019 by five years
Neumann s legal fees will also be paid by SoftBank
The terms still being discussed would see SoftBank spend $1.5bn to buy shares of early WeWork investors and employees, including $500m from Neumann
But the original plan would have seen $1bn of Neumann s shares purchased
SoftBank took a majority stake in WeWork after its attempted initial public offering collapsed in 2019
WeWork co-founder and former Chief Executive Adam Neumann is said to be in advanced talks to settle a high-profile legal fight with SoftBank Group Corp but it would see his package cut by $500mil.