Their attorneys said Wednesday that Nicholas and co-defendant Ashley Fargo will plead an equivalent of no contest to felony drug possession and make a $1 million donation to an unspecified Las Vegas-area drug treatment and rehabilitation program.
Prosecutors are agreeing to drop more serious drug trafficking charges and to dismiss the convictions after one year if Nicholas and Fargo complete 250 hours of community service and drug counseling.
Police said they found heroin, methamphetamine and cocaine in travel cases in their room in August 2018.
Nicholas co-founded Broadcom. Forbes estimates his net worth at more than $4 billion.