Ellison's salary drops to $1

Oracle logoOracle CEO Larry Ellison will receive a base salary of $1 for fiscal 2010, according to a regulatory document filed Friday.

That's a decrease of $999,999 from last year. But Ellison won't exactly be starving. He is the world's fourth wealthiest person, according to Forbes.

And according to Oracle's filing with the Securities and Exchange Commission, Ellison's base pay of $1 million in fiscal 2009 only accounted for 1.2 percent of his total compensation anyway. Ninety-seven percent was in the form of stock.

Still, Ellison's new $1 base pay puts him on the salary pedestal with the likes of Apple CEO Steve Jobs and Google co-founders Sergey Brin and Larry Page.

"The compensation committee recognizes that Mr. Ellison has a significant equity interest in Oracle, but believes he should still receive annual compensation because Mr. Ellison plays an active and vital role in our operations, strategy and growth. Nevertheless, during fiscal 2010, Mr. Ellison agreed to decrease his annual salary to $1," Oracle said in the filing.

Oracle's fiscal 2010 began June 1.

Ellison, who is 64, founded Oracle in 1977. According to the SEC filing, he owns 1.18 billion shares of Oracle, or 23.4 percent of the company's total stock.

Source: CNET

Tags: Oracle

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Galaxy Note10 really is built around a 6.7-inch display
 
You may still be able to download your content
 
Facebook, Messenger and Instagram are all going away
 
Minimize apps to a floating, always-on-top bubble
 
Japan Display has been providing LCDs for the iPhone XR, the only LCD model in Apple’s 2018 line-up
 
The 2001 operating system has reached its lowest share level
 
The entire TSMC 5nm design infrastructure is available now from TSMC
 
The smartphone uses a Snapdragon 660 processor running Android 9 Pie
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 / 1
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
 123456
78910111213
14151617181920
21222324252627
282930    




Poll

Do you use microSD card with your phone?
or leave your own version in comments (15)