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Tech and finance experts are shocked by SoftBank’s ‘stone cold crazy’ $1.7 billion golden parachute for ousted WeWork CEO Adam Neumann

FILE PHOTO: Adam Neumann, CEO of WeWork, speaks to guests during the TechCrunch Disrupt event in Manhattan, in New York City, NY, U.S. May 15, 2017. REUTERS/Eduardo Munoz

  • The news that SoftBank will give Adam Neumann close to $1.7 billion as part of a package to leave WeWork‘s board and give up his voting power sent reverberations through the world of tech and finance Tuesday morning.
  • Experts largely agree that SoftBank made the right move by separating Neumann from WeWork, but many bowled over by the astronomical value of Neumann’s golden parachute.
  • Legal experts said a shareholder lawsuit is unlikely, but that shareholders have good reason to be upset by the deal.
  • Meanwhile, outside experts said the episode tarnishes the reputation of SoftBank and its billionaire CEO Masayoshi Son.
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    Source:: BusinessInsider.Com