Almost all of Yahoo's value is in its Alibaba holding. https://www.bloomberg.com/view/articles/2015-12-02/yahoo-is-looking-for-a-new-way-around-alibaba-taxes h

Almost all of Yahoo's value is in its Alibaba holding. https://www.bloomberg.com/view/articles/2015-12-02/yahoo-is-looking-for-a-new-way-around-alibaba-taxes https://www.bloomberg.com/view/articles/2015-12-02/yahoo-is-... "Yahoo's actual core business of being Yahoo (and Tumblr and whatever) is worth negative $13 billion" "Even after deducting 38 percent from the value of [the Alibaba shares] to account for taxes, you get a value for Yahoo's actual business of just $1.7 billion"