Only if he actually has to pay.

..."Levandowski himself may not have to pay the money personally, as this sort of liability may fall to his employer depending on his contract or other legal quirks."

You can see immediately below that he personally filed for bankruptcy. Now when rich people do this it doesn't always mean the same thing as when ordinary people do it, but it seems unlikely that he would need to take that step if he had no liability.

Chapter 11 buys more time.

Don't forget he still has criminal charges pending: https://www.justice.gov/usao-ndca/pr/former-uber-self-drivin...