Oracle's Ellison grabs top spot on best-paid list
Friday, August 22, 2008SAN FRANCISCO - Oracle Corp. founder Larry Ellison, a longtime fixture on the list of the world’s richest people, is now ensconced atop The Associated Press’ rankings of the top-paid chief executives in the United States.
Never shy about flaunting his estimated $25 billion fortune, Ellison established himself as the best-paid CEO among major U.S. companies by persuading Oracle to award him a fiscal 2008 pay package valued at $84.6 million under the AP’s calculations.
The total compensation, disclosed late Wednesday in a Securities and Exchange Commission filing, catapulted Ellison to the top of the AP’s annual analysis of CEO pay. With a pay package valued at $83.1 million, Merrill Lynch CEO John Thain held that distinction in June when the AP released its 2008 analysis of executive compensation at more than 400 large companies.
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