reported Tuesday morning, a move that sent reverberations through the world of tech and finance.
"It's stone cold crazy," said Eric Schiffer, CEO of the Patriarch Organization, a technology and media private equity firm. "I think SoftBank blinked, and Neumann walks away with one of the biggest hauls in modern history when he should have gotten very little." The sheer amount of money Softbank is reportedly giving Neumann struck multiple experts as surprising.
"WeWork and SoftBank and perhaps even JP Morgan are in some level of a reputational crisis right now," Kossovsky said. "Reputation risk can often be mitigated by sacrificing an executive or a board member … but throwing him overboard with a golden parachute does deliver a mixed message.
"[Shareholders] are getting the opportunity to sell into SoftBank's tender offer, so they are probably feeling better than they were yesterday," he said. "The WeWork shareholders themselves are primarily sophisticated parties who would likely be embarrassed to sue claiming they had been bamboozled.
SAI $1bn secondary round + $500m in credit + $186m “consulting fee”
Hey SoftBank that consulting fee of $185 million should go to profgalloway for recognizing the bullshit propped up valuation from day one. WeWorkAdam deserves nothing other than to pay those thousands of employees whom jobs were cut as a result.
MADNESS An over valued proposition to begin with on a concept u can’t ring fence just like Uber. SoftBank,invested about $10.5 billion in WeWork, will lend them $5 billion and buy upto $3 billion shares. This isn’t the last we have heard of this story more than green mail.
techinsider Corruption, collusion, conniving. It’s frikkin EVERYWHERE.
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