Oracle CEO Ellison's pay drops 18 pct to $78.4M

[Omaha Steve]

Source: AP-Excite

REDWOOD CITY, Calif. (AP) - The value of Oracle Corp. founder and CEO Larry Ellison's pay package dropped 18 percent in fiscal 2013, to $78.4 million, after the business software company missed its internal financial targets and he declined his annual cash bonus.

That's according to a securities filing made Friday and reviewed by The Associated Press.

Ellison, 69, is one of the highest-paid executives in the country. Forbes magazine ranks him as America's third-richest person with personal wealth of $41 billion.

The biggest chunk of compensation for the year, which ran through May, came in the form of stock options, valued at $76.9 million when they were issued. Ellison also received about $1.5 million worth of benefits, mostly for security. His annual salary is $1.

FULL story at link.


Read more: http://apnews.excite.com/article/20130920/DA8UCORG0.html

[dflprincess]

1. How is he going to get by?

(just in case)

[Brother Buzz]

7. Sell used sailboats?

[socialist_n_TN]

15. Yep. WHATEVER will he do on those poverty wages.........

Also

As an aside though, this just proves that even IF a capitalist wanted to "do the right thing" by workers, the system itself would prevent it.

[gopiscrap]

2. 78.4 million? My heart bleeds for him.

How about he donate 77 million of that to a food bank?

[Warpy]

3. Oh, no! How will he continue to put food on his family on that pittance?

At least he declined his bonus for poor performance, not that he needs one. I don't see any other CEOs doing that.

[JEFF9K]

4. We could balance the budget just by him paying his fair share of taxes.

[sarcasmo]

5. Larry might have to sell one of his vacation homes.

[olddad56]

19. Or his Hawaiian Island.

[Bigredhunk]

6. &

His daughter Megan is in the movie production business. Her production company, Annapurna, has done some good movies - like Zero Dark Thirty and Killing Them Softly. Their big one this year is American Hustle.

[Lint Head]

8. Boo friggin' hoo!

[Fridays Child]

9. His plan to annex Mexico for a family vacation spot is now on hold.

[Lucky Luciano]

10. No worries. He has already annexed the entire island of Lanai

in Hawaii for only $500MM.

[Brigid]

11. Wow. $78.4 million.

He'll have to go on Social Security and start raising Doberman Pinschers and selling rabbits for pets or meat.

[Rain Mcloud]

12. Part of me hopes it does not come to this again.

[link:|

[Auntie Bush]

13. Poor, poor Larry. My heart goes out to him.

[bemildred]

14. Speaking of useless eaters ... nt

[freshwest]

16. '$1.5 million worth of benefits, mostly for security'

[Gary 50]

17. Don't worry Mr Ellison...

Don't worry Mr. Ellison, the GOP is here to help unfortunates like yourself. They would like to cut your taxes in half (at the very least) to make up for your "losses." They will pay for the tax cuts with the money saved by cutting food stamps for the hungry "takers."

[KansDem]

18. Oh, and he's probably thinking, "And I'm stuck here too!"

Hey, Larry! Need a little more cash? Get a second job!

[Taverner]

20. I hope that fucker goes broke in his lifetime