Yahoo Founders, Major Investor Dumping Shares

Carl Icahn and Jerry Yang finally agree on something -- selling Yahoo stock

By Jackson West
|  Tuesday, Feb 16, 2010  |  Updated 2:00 PM PDT
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Yahoo Founders, Major Investor Dumping Shares

AP

Yahoo co-founder and former CEO Jerry Yang finally agrees with activist investor Carl Icahn -- time to get rid of Yahoo stock.

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Carl Icahn, the billionaire investor who tangled with Yahoo's executives and board after the company turned down a sale to Microsoft in 2008, has quietly been selling his large stake in Yahoo.

Funny thing, though: So have Yahoo's founders David Filo and Jerry Yang. Yang served as CEO during negotiations with Microsoft.

Back then, Yahoo was trading at $33 a share and Microsoft was offering a premium price of $47.5 billion for the company.

Now, Yahoo's shares trade at around $15.

Icahn sold off 63 million of his own shares, and now holds on 12 million.

Yang is putting 3 million shares on the market, while Filo, who acts a senior technology leader within the company, plans to sell 2 million.

So after all this time, and much public criticism of Yang by Icahn, the two can agree on one thing -- dumping their stakes in Yahoo.

Jackson West has no shares of Yahoo to sell, and certainly won't be buying.

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