WeWork founder will get nearly $1.7 billion to let SoftBank take over his company www.theverge.com

Japanese telecommunications giant SoftBank is taking control of WeWork, and it’s giving WeWork founder Adam Neumann the equivalent of nearly $1.7 billion to sever most of his ties with the shared office space startup, according to The Wall Street Journal and the Financial Times.
This is all on top of the more than $10 billion SoftBank has already committed to WeWork as its largest investor.
Neumann will reportedly sell $1 billion worth of his WeWork stock to SoftBank as part of the takeover bid.
The board of directors of the We Company — WeWork’s parent company — reportedly chose SoftBank’s deal over a competing bid from JPMorgan Chase & Co.
Things really went off the rails after WeWork submitted paperwork to the government to become a publicly traded company.