Yahoo! Co-founder and the fifth-biggest stakeholder lost half a billion dollars losing investor confidence with the company losing out to competitors and reduction of employees.
Jerry Yang took over as the search giant’s Chief Executive officer in June last year. With a 4 percent stock in Yahoo, Yang has been experiencing the pain in the reducing stock by about a third to $1 billion in the past seven months. Yahoo! further dropped 8.5% in the end of January 2008. The 39-year-old CEO along with his co-founder, David Filo got into the billionaire ranks in 1999 with Yahoo! shares rising up threefolds.