SoftBank reportedly ends WeWork ownership debacle with a potential $1.7 billion windfall for Adam Neumann

This is how the company will end, not with the pop of a successful public offering, but with a whimper from defeated investors probably tired after the months-long saga of trying to make sense of how a clever real estate plan ballooned into one of the greatest swindles in venture capital history.

Still, the bid was more attractive to The We Company’s board of directors than a competing offer from JPMorgan Chase, according to the Journal’s reporting.

The Japanese conglomerate, which had pushed up the private market valuation of WeWork through its $100 billion Vision Fund, will also stake Neumann $500 million in credit to repay a loan facility and give him a $185 million consulting fee.

In all, SoftBank is putting in a tender offer for as much as $3 billion to go to the company’s employees and other investors.

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