Michael Kovac/Getty Images for WeWorkDespite an ill-fated IPO attempt and a precipitous fall as the head of one of Silicon Valley’s formerly most valuable startups, Adam Neumann will walk away from WeWork as a billionaire. Forbes estimates that Neumann will be a billionaire as a result of the deal. After taking into account taxes on his previous sales and his debt to SoftBank, Forbes estimates that Neumann is now worth $1.1 billion. Some of Neumann’s actions, including selling an estimated nearly $700 million of his WeWork shares and owning properties that were leased back to WeWork, also came under scrutiny. A spokesperson for WeWork did not comment on the deal, which was first reported by the Wall Street Journal.

Source: Forbes October 22, 2019 21:56 UTC