Marissa Mayer Net Worth 2017: Former Yahoo! CEO Fared Better Than the Company
Marissa Mayer might have been unable to raise ad revenues for Yahoo! but the same couldn't be said for her net worth. Mayer resigned from her post after the sale of the company to Verizon and as expected, she left with a hefty severance package.
Mayer's net worth now amounts to $540 million. Despite her five-year stint as Yahoo!'s CEO, the bulk of her wealth comes from her time with Google where she became its first female engineer. Still, the $23 million severance package she received from her former employer does add a huge chunk to that number.
Marissa Mayer took over as CEO for the ailing tech company in 2012. However, despite implementing several changes to the company, she was still unable to raise web traffic and ad revenues enough to keep Yahoo! from the yard sale.
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Verizon agreed to buy the company for $4.48 billion, significantly lower than the original deal with $350 million slashed off after it disclosed security breaches. However, the final price seems even more disappointing when compared to when the company was still in its heyday.
Yahoo! has been struggling behind Google over the past few years with declining traffic and revenue. Its previous CEO also created controversy after around eliminating telecommuting for her employees.
With its acquisition of the Yahoo!, Verizon is planning to consolidate the company with AOL, which it acquired two years ago. The new company will be dubbed Oath and is set to be a media and telematics company with a focus on digital media, online advertising, online services and software.
While AOL's former CEO Tim Armstrong was recalled to lead the new company, Mayer, on the other hand, is not as fortunate. Compared to the over 2,000 employees set to be laid off as a result of the consolidation, she still got off pretty nicely.
Will this new venture after Mayer prove beneficial to shareholders? Many challenges lie ahead of this new venture and with Armstrong at the helm, they might just see them through.
