"What else can you give California's richest man?"
The richest boss in tech just got a little bit richer, and this time it's not his customers squeaking. Oracle chief executive Larry Ellison, California's richest man, has been awarded a 38 per cent pay rise, taking his salary to an estimated $72m. The award makes Ellison the second-highest paid CEO of a US public company, coming …
Oracle Corp, the only company that makes Microsoft look like a bunch of saints.
I much preferred Ingres.
I don't normally comment but that's brought me out of the shadows, I'm flabbergasted.
I was just reading a book about corporate greed, so this guy is right up there , but it's not even going to "the shareholders" which is the usual excuse for screwing the customers. It's going into the pockets of a man who _already_has_a_huge_amount_of money.
I'm not jealous or anything. Just reigned to it all I think
Mine's the one with the patched holes and freyed cuffs...
A good, solid kick to the nuts?
It must be a curious kind of greed that drives a man worth $25 BILLION to request an extra $20 million a year in his pay packet.
Then again I guess those fuel and food prices rises hit everyone, and it's not easy making ends meet...
A solid drive in the knackers?
There's an election this year, and those campaigns don't pay for themselves...
> not easy making ends meet...
ain't that the truth. I was having lunch overlooking SF Bay last year, and this *very* nice yacht cruised past. Half the folks in the restaurant were looking and asking the waiters "who owns that?".
Yes, you guessed it. Larry on his way for a little afternoon outing. $20m will probably barely cover his increased lunch and fuel charges.
No, I'm not jealous or anything...
Does this have anything to do with the new Google pipes in SE Asia?
Is this going to be the decade the super villan was born... cue Dr Evil laugh!
...I'm pretty disgusted. I wish I could suggest to my boss what sort of pay-rise I would like, but instead, most staff are told to think themselves lucky to receive even a basic cost of living increase. Yes, Oracle are hugely profitable, and someone is to thank for that, but what about the people on the ground, doing the actual work? Won't somebody think of the children?
Anonymous, because although I'm disgusted, I still value my job.
Sounds like a good reward to me... his company grew 25% in one year... that's incredible!!! The reason he's the 2nd highest paid guy on the planet is that no one else can do what he can do. If someone else could, they'd pay him less, or hire someone else...
I just wish I had bought stock in oracle a while ago...
And it's not greed... just because YOU don't have 25billion....
Paris, because no one else can do what she does quite as well, either...
I bet his ends are meeting like a mot******ker.
Worth 25Billion? Greed, pure and simple.
Mines the one with the £50 notes falling out the pockets..
Larry's racing yacht was recently mounted on Oracle's pond. Now Larry's attention is grabbing money, not crushing and destroying competitors. It all sounds to me like retirement is nearing.
or the business goes under - quite likely.
No surprise you are paying over the odds, for something to store your business critical data in.
Oracle has so many businesses by the proverbial gonads.
And the database just isn't that good.
>>>And the database just isn't that good.
No, it really isn't. You have to do so much work to it (in painfully non-intuitive interfaces) to even get it to a usable place, it's just not worth the effort. For all but the most demanding of massive enterprises, SQL Server works just bloody lovely.
But then it becomes power. And if someone has billions, you need MORE billions to make sure YOU conduct the orchestra, not them.
Pretty sick, to my mind.
Happy to stand in for ya if you want to go on that year long holiday Larry
@Les Matthew - class
...or nationalisation sound like good options to me. Give it back to the people and a few oligarchs.
Paris, because she would surely love to spread herself around and share her profitable bits.
I thought that rich people spent a lot of money so therefore a limit on the pay of the rich was damaging to the economy because of the Keynesian multiplier meaning their concentrated money trickled down to their maids and so on.
So how many people's average savings would it take to build up 25Bn in worth? And why isn't he spending it all?
40 foot high solid gold Buddhas arranged around the east-bay I am looking for financing sounds like I found my man.
think about it.
They have a license to print money, they want something nice and shiny they just print money to get it.
Normally they just give governments money as loans, increase the overall amount of money in circulation, reducing the value of the money, and they move in ahead of time and pick up the real value.
We need to go back to a gold, silver, jewel economy, the way the system is set up we are just working for counterfeiters, that is the dirty little secret of money.
It would be amusing to see ole' Larry with his pile of worthless money, so he better spend it quick - there you go, that is how you do the Keynesian trickle down multiplier :)
I'm willing to bet most of it represents his stake in Oracle, so if ever Oracle went down the tubes, so would his piles (of money, I mean)
The 70 million is just pocket money.
a camel, and a needle
We don't need the saint one.
Customer of mine was asked if he liked Oracle. Answer was "No, not really, but the CEO says we can't switch because he doesn't want Larry mad at him."
Now that's power..
God doesn't think he's Larry Ellison.
Well, if you'd had your money in US$ two years ago, you've also taken it in the shorts.
And even though there have been some HUGE crashes on the stock exchange, 11% over inflation is the average increase in value in stock.
This does not sound to me like a dangerous investment.
So Everyone is happy with the safety platform across the globe huh? Just chalk it up on my stock and bond portfolio now for the future. And how about everyone buy a drink on me !
All this talk about Larry's wealth being tied up in shares is utter rubbish.
There are 5 billion shares in Oracle.
Larry sold 1 million a day for 10 days in February, representing 0.2 of a percent of the shares, and earned himself about $22m (tax free) per transaction - or $220m in cash for the month. It had no noticeable effect on the share price. He did the same in January and December 07, November '07 and so on. So in 5 months he has turned 50 million shares into $ 1bn + in cash and traded about 1 percent of the company.
Yes he has a lot of shares but he has a lot of cash also.
Oracle cannot be trusted.
As a business partner of Oracle for many years, I wish I could tell you chapter and verse of what they have put me through, but I am sure they would retaliate against me if they could figure out who I am.
I bet my business on Oracle, and while at first it seemed like a good bet, over time the whole relationship has turned sour.
They talk pretty to potential customers, but once you are locked in they are greedy and capricious.
Count me oppressed by Oracle, and too small to fight back.