Oracle CEO’s Salary Cut

How’s that for a sensationalist headline? It’s true though, as Larry Ellison, Oracle’s outspoken CEO, has accepted a pay cut and his annual salary in 2010 will be $1. Of course, he’s the world’s 4th richest man and 97% of his total compensation comes from stock so don’t feel too sorry for him.

Ellison's new $1 base pay puts him on the salary pedestal with the likes of Apple CEO Steve Jobs and Google co-founders Sergey Brin and Larry Page. … Ellison, who is 64, founded Oracle in 1977. According to the SEC filing, he owns 1.18 billion shares of Oracle, or 23.4 percent of the company's total stock.

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