Oracle cold bath shrinks Larry Ellison's pay package

Oracle's Larry Ellison, one of the world’s richest men and best-paid CEOs in the US, is getting his pay cut by more than half. The database giant's chief executive has been awarded just 3 million stock options by its compensation committee in its annual review process. That’s down from 7 million the year before and every year …

[IGnatius T Foobar]

poor guy

must be so sad that he's poor now ... poor guy will have to live on spam and ramen

NOT

[frank ly]

re. Ellison is Oracle’s single largest shareholder.

Does this mean he is the largest 'private individual shareholder' but there are corporate shareholders with a larger shareholding than him, or does it mean that he owns the largest block of shares of any registered owners? What percentage of Oracle shares does he own?

[Anonymous Coward]

You keep using that word...

"Ellison is calculated to have earned $960m in compensation"

What senior execs "earn" and what they are able to get away with paying themselves are largely uncorrelated.

[Tom 35]

he cut his official salary to $1 a year

It's hard to avoid tax on a fat salary.

[James 51]

At least Bill Gates is trying to make the world a better place with his money.

[Timto]

Despite his pledge to give away half his wealth, he is still the richest man in the world. Something doesn't add up.

[Anonymous Coward]

With so much wealth, it's possible to give away ungodly sums of money, and cleverly invest the rest to keep yourself hugely wealthy and maintain your impressive charitable donations.

[Anonymous Coward]

Especially

If the charities you donate to have to use your software.

[Anonymice]

Re: "something doesn't add up"

They (Gates & Buffet) did agree to give away a majority of their wealth, however not all in one go. The payments are made in instalments, dependent on certain conditions & goals being met. It's a protective measure to make sure funds aren't squandered.

[Hans 1]

Re: "something doesn't add up"

@ Anonymice

Gates runs his foundation, so has control over the funds, stupid! Also, the great sums he has invested in projects further GMO's and patents in the third world ... call that philanthropy ? ROFL

Gates needs to go and see a therapist if he thinks he is doing any good.

[Anonymous Coward]

At least Bill Gates is trying to make the world a better place with his money.

Oh, you mean after he ruined innovation first? Or took a VERY large chunk of money from schools that could not be spent on silly stuff like salaries or books? Plenty of other examples exist.

[Anonymous Coward]

And so is Musk. All Ellison does is buy houses and turn them into art museums.

[SisterClamp]

@James51

I think you had better start doing some serious reading about the Bill & Melinda Gates Foundation and:

* the Common Core curriculum in the USA (doesn't apply to rich kids, natch)

* expired/tainted vaccines in Africa

* their views on the benefits of eugenics, etc.

Just try to keep up, will you?

[James 51]

Re: @James51

Don't have time to be an expert in everything, just going by what I see on the news.

[psychonaut]

why is his salary so high? just ASK him

after all, he's been ASK'ing every fecking java download.

that shit is on every machine i see.

[Hans 1]

Re: why is his salary so high? just ASK him

The Windows Java JVM (JRE) meets every requirement I know to bare the name of "troyan horse", and I have worked in AV software houses.

[Gartal]

Didums

[Anonymous Coward]

And they still don't give the normal workers a fucking pay rise - thats 3 years in a row with not a glimmer of a pay increase for the normal working sods.

Fuck you Larry and the rest of the useless management of the company, my heart bleeds that your ridiculously inflated earnings are slightly less inflated...

[jcitron]

As a former employee...

His salary is so high because they don't pay the employees any more than they have to and don't believe in giving raises. You start at a specific salary and that's it for the rest of your life there, and they push you until you drop.

Every review I had, and we had to go through the useless review process with our managers, was above average at 4 / 5 or 4.5 / 5 points, but got nothing more than a great job from my manager. I even got rewards from the division (org) VPs, but no financial compensation. There's a high turn-around and we wonder why.