Posted on 07/27/2010 3:21:55 PM PDT by Dan B Cooper
Oracle’s Larry Ellison has come top of a list of the 25 highest-paid executives of public companies during the past decade, according to a Wall Street Journal analysis. He made $1.84 billion.
His friend Steve Jobs, boss of Apple, came fourth with $749 million.
In this case, pay includes “salaries, bonuses, perks and realized gains on both restricted stock and stock options”. The “realized gains on options accounted for 97% of Mr Ellison's total compensation,” says the Journal.
Most of Jobs’s income comprises the $647 million gain on restricted stock that vested in 2006. This means he actually earned his crust by multiplying the value of Apple shares, and as he still holds the stock, he hasn’t actually trousered the money.
Jobs, like some other American executives, draws a $1 salary to qualify for health and other company benefits.
Dell founder Michael Dell made $454 million even though Dell shares lost 66% of their value during the decade. The Journal adds: “A Dell spokesman said most of Mr Dell’s compensation reflected gains on options granted in the 1990s, when Dell’s stock price soared. He noted that Mr Dell hasn't received a bonus for four years and hasn't been granted stock or stock options for six years.”
The list was compiled by Professor Kevin Murphy of the University of Southern California, based on company filings with the Securities and Exchange Commission (SEC).
However, both Ellison and Woods rank well behind entertainers such as Oprah Winfrey and Rush Limbaugh, who each make more than $300 million per year but do not run publicly held companies.
The Journal listed as No. 2 television producer Barry Diller, who received about $1.14 billion from IAC/Interactive and Expedia Inc., the online travel site IAC spun off in 2005, where he currently serves as chairman. Occidental Petroleum Corp. CEO Ray Irani was third at $857 million."
Good for them.
Steve Jobs has the midas touch! Touche’ to the Silicon Valley capitalists!
I don’t know how, but they are clearly racists.
Yeah must be nice. I don’t know why Jobs can’t pay his own health tab though.
I’m sure he does pay his own. The article assumes the motivation for the $1 salary is health benefits, however, in reality, most take this to keep politicians off their back for having high salaries. It also ties compensation more closely to performance. It is a risk/reward gamble. If the company doesn’t perform and their salary is tied in with options, they could lose money. If successful, like Apple, then they could make a mint.
In terms of ROI (Return on Investment) to the shareholders, these people have returned far more than the President’s good friend, the CEO of GE, Jeffery Immelt, who has melted GE’s net worth in the 9 years he has been CEO. Just one comparison of many.
But Ellison is the founder of Oracle, and still owns large amounts of stock. His net worth of $27 billion dwarfs both Limbaugh and Ophrey.
Makes sense. Thanks. Not that he shouldn’t be able to partipate in insurance just because he’s rich. I figure there was more of a motivation there.
Ellison is a scumbag for suing SAP.
Lets take the money .
There, I got it out of my system and I can go back to screwing the downtrodden like a good conservative.
I find no trace of any such lawsuit. Tried ‘oracle lawsuit SAP’, get nothing.
That’s what I get for listening to my hubby’s beer fueled rants. Apparently he was talking about SCO?
SCO sued Novell - that everyone knows. Neither one has made anyone a billionaire, just the opposite.
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