Adam Neumann Ousted From Billionaire Ranks on SoftBank Reversal

WeWork co-founder’s net worth peaked at $14 billion last year
Special committee of WeWork’s board is weighing legal action

SoftBank Is Said to Plan to Abandon WeWork Shareholders Deal

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By Tom Metcalf

April 2, 2020 at 2:51 PM UTC

This article is for subscribers only.

WeWork co-founder Adam Neumann has a new title: ex-billionaire.

SoftBank Group Corp.’s decision to scrap an October agreement to buy $3 billion of WeWork stock means the former chief executive officer’s fortune has plummeted 97% to $450 million in less than a year -- wiping away $13.5 billion of his estimated net worth, according to the Bloomberg Billionaires Index.