October 23 - 10:10
SoftBank bails out WeWork
SoftBank has offered WeWork a life raft with extra investment that could total $9.5 billion. The cash injection ends speculation about WeWork's future and sees SoftBank grasp 80% control of the company. Controversial co-founder Adam Neumann, pictured, will leave the board but could earn a windfall of up to $1.7 billion. WeWork, once valued at more than $50 billion, is now worth around $8 billion.
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