Financial advisers and investors in WeWork have been pondering trying to limit co-founder Adam Neumann's voting power in a bid to salvage the firm's IPO, according to a published report.

Neumann holds supervoting rights that are 20 times the rights of ordinary shareholders, reported Thursday.

WeWork's valuation reached $47 billion earlier this year when Softbank made a $2 billion investment in the real-estate company, which provides co-working space.

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In the run-up to the start of the company's road show next week, however, advisers have been forced to reduce the valuation to between $15 billion and $20 billion, FT reported.

The advisers are also mulling removing Neumann's wife from any part in succession planning according to the report.