Oracle Founder Joins the Elite $1 Salary Club
CEOs have drawn a lot of flak in recent times for their fat paychecks, forcing some CEOs to accept pay cuts. Oracle CEO Larry Ellison is the latest tech honcho to have his base salary trimmed down dramatically to $1. According to a regulatory document filed by his company on Friday, Larry Ellison will receive only $1 as his base salary during fiscal 2010, which began on June 1. The erstwhile richest man in the world is currently fourth on Forbes’ list of world’s most affluent people. Last year, he received a base salary $1 million, which only amounted to 1.2 percent of his total annual income. Ellison, who founded Oracle in 1977, owns a 22.7 stake in Oracle.

Image Credit: Cratchit
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Lodis4
August 24, 2009 at 8:58am
If his salary last year of $1M was only 1.2% of the total compensation package he will still bring home over $98M in fiscal 2009/2010.
I harbor no ill will but damn, that must be nice. :)
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tkddan87
August 24, 2009 at 8:43am
other than the possibility of this being short term, as another poster stated i also have no ill feelings tward this. with that kind of money these CEOs could live very comfortably off the interest gained through their savings accounts. ignoring the 'evil coporprate america' aspect they earned their salleries. way more than sports stars.
on a side note this may save them money, atleast looking at dirrect income theyre making pennies/hr thats third world income..meaning very low to no taxes.
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Denis63
August 24, 2009 at 10:03am
he payes taxes on everything he legally takes home. every form of income is taxed. he just "looks better" in the public eyes.
-Denis
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Tekzel
August 24, 2009 at 8:29am
Holy mother.... 1 mil was 1.2% of his annual income last year? The mind boggles. I don't harbor any ill thoughts toward him for it, if I could make that much legally I would do it in a heart beat. I am envious if anything.
However, the $1 salary thing is nothing but a PR stunt. The guy already has more money than he can ever reasonably use. He made more last year, MUCH more, than I will in my entire lifetime.
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nekollx
August 24, 2009 at 8:28am
taking a page from Richie Rich is he?
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