Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Oracle Paid CEO Larry Ellison $70.1 Million Last Year

Larry Ellison, chief executive officer of Oracle Corp. Photographer: Kim White/Bloomberg
Larry Ellison, chief executive officer of Oracle Corp. Photographer: Kim White/Bloomberg

Sept. 7 (Bloomberg) -- Oracle Corp., the world’s second-biggest software company, paid Chief Executive Officer Larry Ellison $70.1 million in total compensation for the past fiscal year, less than the $84.5 million he earned a year earlier.

Ellison agreed to lower his salary to $250,001, including benefits, as the company focused more on stock options and performance bonuses, Redwood City, California-based Oracle said today in a regulatory filing. His salary was $1 million the previous year.

Ellison, 66, remains one of the best-paid executives in Silicon Valley and is the sixth-richest man in the world, according to Forbes magazine. He has poured some of his money into the BMW Oracle sailing team, which won the America’s Cup this year. Ellison also attempted to purchase the Golden State Warriors basketball team, which went to another buyer.

Oracle gave Ellison $61.9 million in options, a $6.45 million bonus and $1.49 million in other compensation. His cash bonus was higher than his target because the company’s financial performance was superior to that of most rivals, Oracle said.

Ellison announced yesterday that he hired former Hewlett-Packard Co. CEO Mark Hurd to serve as Oracle’s president, alongside Safra Catz. HP sued Hurd today, saying the move would violate his nondisclosure agreement. Hurd was asked to resign from HP last month after an investigation found he tried to conceal a personal relationship with a contractor.

Catz, 48, earned a salary of $800,000 and total compensation of $36.4 million for the past fiscal year, which ended May 31.

Oracle rose $1.35, or 5.9 percent, to $24.27 today on the Nasdaq Stock Market. The shares have declined 1.1 percent this year.

To contact the reporter on this story: Joseph Galante in San Francisco at jgalante3@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.