Yahoo Finance Yahoo CEO Marissa Mayer Left Out of Allen & Co.’s ‘Summer Camp for Billionaires’
Yahoo CEO Marissa Mayer didn’t get a coveted invitation to Allen & Co.’s annual event, which is referred to as “summer camp for billionaires.”
The New York Post reports that Mayer is not among the names of invitees after she decided to skip the event last year.
The annual event includes tech and entertainment industry moguls, with previous attendees including Apple CEO Tim Cook, Facebook CEO Mark Zuckerberg and Tesla CEO Elon Musk. Media power players Barry Diller, Rupert Murdoch and John Malone are all considered regular attendees.
Also Read: Yahoo CEO Marissa Mayer's Pay Slumps 14.5 Percent
Mayer’s reign atop Yahoo has been embattled almost since her arrival in 2012. Her task was to transform the tech company from a fading search giant, and it hasn’t been going all that well.
Her strategy of investing heavily in high-profile personalities like Katie Couric and takeovers of sites like Tumblr hasn’t yielded the desired growth, resulting in a current auction of the company’s core Internet business. Her pay in 2015 was $35.9 million, representing a 14.5 percent drop from the Yahoo CEO’s compensation in 2014, but she’ll get a $55 million golden parachute if the company is sold.
Also Read: Moguls Converge on Sun Valley for Allen & Co. Retreat (Photos)
The Sun Valley, Idaho conference features several days of high-level discussions about business and the economy, which are completely off limits to the media. Business Insider reports that several major deals have gotten off the ground at the conference, including Disney’s acquisition of ABC and Jeff Bezos’ acquisition of the Washington Post.
The Post says that Warren Buffett is expected to attend this year’s conference. Other big names such as LeBron James and Chris Christie have attended the event in the past.
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