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Oracle CEO Larry Ellison’s Pay Drops 18% to $78.4 Million

Oracle Corp. Chief Executive Officer Larry Ellison’s pay package declined 18 percent to $78.4 million for fiscal 2013 after he gave up an annual bonus and the company missed some of its profit targets.

Ellison, 69, who is worth $41.8 billion and ranks eighth on the Bloomberg Billionaires Index, was the highest-paid CEO in the U.S. this year, according to data compiled by Bloomberg.