SAN 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.
The details about Ellison’s compensation weren’t available at that time because Oracle operates on an unusual fiscal year ending in May. The anomaly lets Oracle wait until late summer to make the SEC-mandated disclosures about Ellison’s pay.
The AP’s rankings cover disclosures made within the same calendar year, meaning Ellison could be surpassed if an SEC filing during the next four months reveals another CEO received an even bigger pay package.
For now, there is only one change in the AP’s list of the 10 best-paid executives. With Ellison taking over the No. 1 spot, Occidental Petroleum Corp. CEO Ray Irani fell out of the top 10.
