Quantcast

Don't have an account? Register Now! Forgot password?

Related Articles
Maximum IT
SEE MORE MAXIMUM IT
News

Oracle Founder Joins the Elite $1 Salary Club

Posted 08/24/09 at 10:11:13 AM  by Pulkit Chandna

comment Commentsprint Printemail EmailDeliciousDiggStumbleUponRedditFacebookSlashdot

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

COMMENTS:6
TAGS: ceo, oracle, larry ellison, $1 salary
COMMENTS
avatarSlow news day, eh?   And

Submitted by Khaled on Mon, 08/24/2009 - 4:08pm

Slow news day, eh?

 

And you forgot Steve Jobs from Apple,Inc.

Login or register to post comments
avatarThe keywording is "base salary"

Submitted by Lodis4 on Mon, 08/24/2009 - 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. :) 

Login or register to post comments
avatarother than the possibility

Submitted by tkddan87 on Mon, 08/24/2009 - 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.

Login or register to post comments
avatarhe payes taxes on everything

Submitted by Denis63 on Mon, 08/24/2009 - 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

Login or register to post comments
avatarHoly mother.... 1 mil was

Submitted by Tekzel on Mon, 08/24/2009 - 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.

Login or register to post comments
avatar taking a page from Richie

Submitted by nekollx on Mon, 08/24/2009 - 8:28am

 taking a page from Richie Rich is he?

------------------------------
Coming soon to Lulu.com --Tokusatsu Heroes--
Five teenagers, one alien ghost, a robot, and the fate of the world.

Login or register to post comments

This Month's Issue
Maximum PC
SUBSCRIBE NOW
AND SAVE!
FEATURE How to Get FREE Programs, Services, Software & MoreFEATURE Digital Photo Printer RoundupHOW TOBuild a 3D CameraFEATUREDIY Arcade PCWHITE PAPERHow TRIM Works