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University of Illinois drop out Lawrence J. Ellison of Oracle: highest paid Technology CEO
By Amarendra Bhushan for CEOWORLD Magazine Updated:August 29, 2008
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With $84.6M pay package Larry Ellison ($26 billion man) of Oracle Corp., Technology’s highest paid CEO currently is also America’s highest paid CEO, – who with a fiscal 2008. Noting that annual pay totals are “based on salary, bonuses, incentives and perks,” the Associated Press reports that Ellison’s pay in 2008 was 38% higher than the $61.2M pay package he received in 2007.
Bloomberg who earier published Steve Jobs’s Obituary , which reports the figure as only $72M, notes that even this number is “12 times bigger than the median pay of CEOs in the technology industry.” As Bloomberg drily notes, “The pay for Ellison, 64, doesn’t include the $544 million he made last year exercising stock-option grants.” Meantime Oracle Corp. shareholders are angry at Chief Executive Officer Larry Ellison pay increase. The package is 12 times larger than the median pay of CEOs in the technology industry. It has also won support from the American Federation of State, County and Municipal Employees and the California Public Employees’ Retirement System, Bloomberg reported.
Lawrence J. Ellison Profile:
Lawrence J. Ellison
Chief Executive Officer
Oracle Corporation
An entrepreneur and the co-founder and CEO of Oracle Corporation, a major enterprise software company. Lawrence J. Ellison has been Oracle’s Chief Executive Officer and a member of the Board of Directors since he co-founded the company in June 1977. Mr. Ellison served as Chairman of the Board from May 1990 until October 1992 and from May 1995 until January 2004. He served as President from May 1978 to July 1996. Mr. Ellison has been a member of the Executive Committee since December 1985. He is currently listed on Forbes list of billionaires as the 14th richest person in the world.
On Aug. 22, 2008 AP ranked founder Larry Ellison as the top paid chief executive despite a poor representation of stock holder value and performance. He left the University of Illinois at Urbana-Champaign at the end of his second year, after not taking his final exams because his adoptive mother had just died. After spending a summer in Northern California where he lived with his friend Chuck Weiss, he attended the University of Chicago for one term, where he first encountered computer designing.
Top five highest paid Technology executive CEO:
Lawrence J. Ellison (Larry), CEO Oracle, Pay package- $72.0 million
John Coyne, CEO Western Digital, Pay package- $25.5 million
Samuel Palisano, CEO INM, Pay package- $24.2 million
Mark Hurd, CEO HP, Pay package- $22.2 million
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