Oracle Founder Joins the Elite $1 Salary Club

Pulkit Chandna

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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