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Terry Semel Net Worth, Biography & Wiki 2017
Terry Semel was born on 24 February 1943, in Brooklyn, New York City USA, of Jewish descent. Terry is an executive, best known for being a former CEO and chairman of Yahoo! Incorporated, a position he held from 2001 to 2007. He has also served as the co-chief executive officer and chairman of Warner Bros. All of his efforts have helped put his net worth to where it is today.
How rich is Terry Semel? As of mid-2017, sources estimate a net worth that is at $300 million, mostly earned through a successful career as an executive. He also founded the film production company Windsor Media, and as he continues his endeavors, it is expected that his wealth will also continue to increase.
Terry Semel Net Worth $300 million
Terry attended Long Island University, and graduated with a degree in accounting. He then joined Warner Bros, and would rise up the ranks to become chairman and co-chief executive officer. His net worth started to increase significantly in 2001, when he was granted stock options valued at over $110 million to join Yahoo! – he became the CEO of the company and would start Yahoo!’s cooperation with Chinese officials to release previously confidential information. However, it proved to be a decision that was not well received by many. During the “All Digital Things” conference held by the Wall Street Journal, Yahoo! Was criticized and it was even stated that Terry would have cooperated with Nazi Germany. Later in his tenure, he was given an option to look at buying Google by founders David Filo and Jerry Yang. Terry had dinner with Sergey Brin and Larry Page to discuss buying Google for a price of $1 billion. Terry said he’d take time to consider it, but during the next meeting the price was raised to $3 billion.
Semel would continue to serve as chief executive officer of Yahoo! until 2007, when he gave the reins to Jerry Yang – he still remained as chairman but in a non-executive role, while Susan Decker was appointed as president. The following year, Semel would leave Yahoo! completely. Prior to his resignation, shareholders pressured him due to dissatisfaction with his performance, and compensation package. He also made bad decisions with the company’s stock purchase strategy, resulting in the company taking a nosedive financially. Even with a low salary, he still had high valued stock options.
Aside from Yahoo!, Terry also founded Windsor Media which is known for producing the film “Rules Don’t Apply” which stars Lily Collins. Thanks to his other endeavors, his net worth has increased continuously. He was also awarded UCLA’s highest honor, the UCLA Medal. Yale School of Management’s Chief Executive Leadership Institute also awarded him the “Legend in Leadership Award”.
For his personal life, it is known that Semel was married to Maryann, and they have a son but divorced in 1974. Three years later, he married Jane Bovingdon and they have three daughters. Semel serves as the co-chair of the board of trustees at the Los Angeles County Museum of Art.