It pays to be at the top of the corporate food chain. It really pays.
The Wall Street Journal is reporting that Larry Ellison, founder and chief executive of software maker Oracle, topped the list of best-paid executives of public companies during the past decade. Ellison received $1.84 billion in compensation, according to a Wall Street Journal analysis of CEO pay.
Barry Diller came in second on the compensation list, the WSJ reports. Diller received $1.14 billion from IAC/InterActive and Expedia.com, the online travel site IAC spun off in 2005, where he remains chairman.
Rounding out the top five were Occidental Petroleum CEO Ray Irani at $857 million, Apple’s Steve Jobs with $749 million and Capital One Financial’s Richard Fairbank at $569 million, the WSJ said.
No Georgia CEO made the list of the top 25. No woman is on the list.
Four of the top 25 CEOs worked at financial companies, the WSJ reports. The newspaper’s analysis includes salaries, bonuses, perks and realized gains on both restricted stock and stock options.
Shareholders at some companies benefited along with the CEOs, the WSJ reports. For example, Oracle shareholders saw the value of their stock triple, while shareholders of Apple saw their stock soar nearly 12 times over.
But four of the 10 highest-earning executives ran companies whose shareholders lost money over the decade: IAC/InterActive, Countrywide, Capital One and Cendant, the WSJ says.
Is any CEO worth this type of money?
For the CEOs who built their companies from scratch, is this a just reward? Much too excessive?
What does this say about CEO “pay-for-performance” formulas?
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