Feb 14, 2020 - Economy & Business

SoftBank executive muddles details of ousted WeWork CEO's exit package

Former WeWork CEO Adam Neumann. Photo: Michael Kovac/Getty Images for WeWork

Marcelo Claure, a SoftBank executive who's currently doubling as WeWork's executive chairman, told CNBC on Tuesday that people misunderstand ousted CEO Adam Neumann's exit package: "To say that he has walked away with over a billion dollars is totally false."

Why it matters: Claure intentionally muddled the present and past tense. Neumann indeed will walk away with over $1 billion, he just hasn't done so yet because SoftBank's tender offer for WeWork shares hasn't closed. Neumann, currently living in Israel, is able to tender up to $970 million worth of shares. That's on top of the nearly $200 million he already received to give up his voting rights, and a $500 million credit line to repay existing loans.

Go deeper: WeWork's Adam Neumann to step down as CEO

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Axios

Updated 4 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

Global: Total confirmed cases as of 9 a.m. ET: 11,648,268 — Total deaths: 538,828 — Total recoveries — 6,328,930 — Map.
U.S.: Total confirmed cases as of 9 a.m. ET: 2,938,750 — Total deaths: 130,310 — Total recoveries: 924,148 — Total tested: 36,032,329 — Map.
Axios-Ipsos Coronavirus Index: Our response is becoming more polarized.
Business: Rising cases pause U.S. economic recovery — Hospitals, doctors are major recipients of PPP loans.

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Fadel Allassan

2 hours ago - Technology

Pompeo: Trump administration is "looking at" TikTok ban

Secretary of State Mike Pompeo told Fox News' Laura Ingraham on Monday that the Trump administration is "looking at" a ban on Chinese social media app TikTok.

Why it matters: Lawmakers have long expressed fears that the Chinese government could use TikTok to harvest reams of data from Americans — and actions against the app have recently accelerated worldwide, highlighted by India's ban.

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Sara Fischer, Neal Rothschild

3 hours ago - Economy & Business

"Hamilton" is a streaming hit for Disney+

Data: Google Trends; Chart: Andrew Witherspoon/Axios

The debut of "Hamilton" on Disney+ last Friday sent downloads of the app soaring over the weekend.

Why it matters: With theaters closed until 2021, "Hamilton" is the biggest litmus test for whether Broadway will ever be able to successfully transition some of its iconic hits.