"Right now I am in the process of transitioning into the role of adviser, stepping down, still being involved in the company but it's given me an opportunity to work on new projects," Hurley said.
Sources said in Jun when Hurley was interviewed he hinted that he may spend more time with his other company a menswear label called Hlaska.
In 2005 Hurley launched YouTube with Steve Chen and Jawed Karim. Year later Google bought the company for $1.65 billion. Now Hurley claims the site gets roughly two billion page views a day.
In terms of billionaire list Lady Gaga reportedly became the first billion-hit musician on YouTube, driven by clicks into 'Just Dance,' 'Bad Romance' and 'Poker Face.'