CURRENT AFFAIRS

Detailed explanation-1: -Neumann was ousted in 2019 and replaced by real estate veteran Sandeep Mathrani.

Detailed explanation-2: -WeWork’s former CEO has a new startup, reportedly valued at more than $1 billion. Nearly three years after Adam Neumann stepped down as CEO of WeWork following a failed attempt to take the company public, he is said to once again be in charge of a billion-dollar real estate startup.

Detailed explanation-3: -Neumann is starting a new company called Flow, focused on the residential real estate market, the DealBook newsletter reports.

Detailed explanation-4: -Masa wanted to buy Adam out and take control of his shares before he injected more money into the company. After several back-and-forths, the latter agreed to a buyout package offered by Masa, one that amounted to $975 million. Now, Adam and Rebekah are less worried as their ‘golden parachute’ is on its way.