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What is Terry Semel’s Net Worth and Salary?
Terry Semel is an American company government who has a net worth of $300 million. Terry Semel served because the chairman and CEO of the net companies supplier Yahoo! from 2001 to 2007. Before that, he spent 24 years in numerous government positions at Warner Bros., together with as co-chairman and co-CEO with Robert A. Daly. Among his different enterprise actions, Semel supplied to purchase Google, however was rejected, and in addition went via failed negotiations to purchase Facebook.
Yahoo! Salary
Semel spent 24 years at Warner Bros., the place he served as chairman and co-chief government officer. As CEO, Semel’s wage peaked at $1 million yearly, however his complete compensation usually exceeded that quantity resulting from bonuses and inventory choices. In 2001, his complete compensation reached $32.5 million.
To entice him to go away Warner Bros, Yahoo! supplied Semel $110 million in inventory choices as an preliminary compensation plan. He was subsequently granted choices to buy further Yahoo! inventory. From this grant Semel netted $450 million between 2003 and 2006. His stock-purchase technique, nonetheless, brought on Yahoo!’s worth to nosedive.
Early Life and Education
Terry Semel was born on February 24, 1943 within the Brooklyn borough of New York City to Jewish mother and father Mildred and Ben. His mom was an government at a bus firm, whereas his father designed girls’s coats. He is the center baby between two sisters. Semel was raised within the Bay Terrace neighborhood of Queens. For his greater schooling, he attended Long Island University Brooklyn, from which he earned his Bachelor of Science diploma in accounting.
(Photo by Stefanie Keenan/WireImage)
Business Career
Semel first labored at Warner Bros. as a trainee in 1965. Later, from 1970 to 1972, he was the home gross sales supervisor for Cinema Center Films, the theatrical movie manufacturing firm of CBS. After CBS shuttered the corporate, Semel moved to Disney, the place he was answerable for theatrical distribution. He returned to Warner Bros. in 1975 as president of distribution. At the tip of the last decade, Semel turned an government vice chairman of studio operations. After president Frank Wells introduced that he was taking a much less lively function in Warner Bros. in 1981, Semel turned the corporate’s new president and COO. In 1994, he took on the roles of co-chairman and co-CEO with Robert A. Daly. The subsequent yr, the boys additionally turned co-chairmen and co-CEOs of Warner Music Group. Semel and Daly each resigned from Warner Bros. in the summertime of 1999.
In 2001, Semel was granted inventory choices valued at over $110 million as a bonus to affix the net companies supplier Yahoo! He turned the corporate’s chairman and CEO, positions he held till mid-2007. Prior to his exit, Semel’s annual wage was diminished to at least one greenback. Following his resignation, he handed over the reins of CEO to Yahoo! co-founder Jerry Yang, whereas Susan Decker turned the brand new president. During his management at Yahoo!, Semel was concerned within the controversial determination to permit the corporate handy over beforehand confidential info to the Chinese authorities. He additionally supplied to buy Google, as Yahoo! was the most important licensor of the corporate’s search know-how. However, Google co-founders Larry Page and Sergey Brin had been reluctant to promote. Although Semel agreed to their preliminary $1 billion asking worth, the 2 upped the quantity to $3 billion and demurred. Semel was additionally concerned in failed negotiations to take over Facebook from Mark Zuckerberg.
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Other Activities
Among his different actions, Semel serves as co-chair of the board of trustees of the Los Angeles County Museum of Art.
Honors and Awards
Semel has earned some vital honors for his enterprise profession. In 1995, he acquired the Golden Plate Award from the American Academy of Achievement. A decade later, Semel earned the UCLA Medal, the very best honor from the college. He can be the namesake of UCLA’s Semel Institute for Neuroscience and Human Behavior. Elsewhere, Semel acquired the Legend in Leadership Award from the Yale School of Management’s Chief Executive Leadership Institute.
Personal Life
In 1966, Semel married Maryann Soloway. The couple had a son named Eric earlier than divorcing in 1974. Semel went on to marry Jane Bovingdon in 1977; they’ve three daughters named Courtenay, Lily, and Kate. Semel has Alzheimer’s illness, and in 2016 moved right into a nursing facility to obtain care.
Real Estate
Terry and Jane personal and have beforehand owned some unbelievable properties, primarily in Southern California. In 1994 they paid $3.15 million for a house in Malibu, alongside the highly-desired Carbon Beach. After initially looking for $50 million for this property, in 2012 they bought it to Larry Ellison for $36 million. Ellison now owns no less than a dozen houses alongside the PCH in Malibu. Terry and Jane’s longtime dwelling in Bel-Air is probably going value $20-30 million. They beforehand owned a $12 million dwelling in Beverly Hills.
All internet worths are calculated utilizing knowledge drawn from public sources. When offered, we additionally incorporate personal ideas and suggestions acquired from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as doable, until in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
