Ellison joins the $1 club

By: Andrew

Aug 24 2009

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Category: Computers

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Oracle CEO Larry Ellison will recieve a base salary of $1 for the fiscal 2010 but he isn’t going broke anytime soon. According Forbes Ellison is the world’s forth wealthiest person.

Though this is a $999,999 decrease from the last fiscal year according to Oracle’s filing with the Securities and Exchange Commission, Ellison’s base pay of $1 million was only 1.2% of his total pay. Ninety-seven percent was in the form of stock.

So even with the 99.9999% decrease in his base salary Ellison isn’t going to notice it.

Mr Ellison owns 1.18 billion shares of Oracle, or 23.4 percent of the company’s total stock according to the SEC filing.

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