Oracle's Ellison gets pay package worth $70M

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By ANDREW VANACORE AP Business Writer

Summary

Oracle Corp. founder Larry Ellison, one of the world's richest people, drew a pay package worth about $70 million during the company's most recent fiscal year.

Story Published: Sep 7, 2010 at 2:32 PM PST

Story Updated: Sep 7, 2010 at 2:32 PM PST

NEW YORK (AP) - Oracle Corp. founder Larry Ellison, one of the world's richest people, drew a pay package worth about $70 million during the company's most recent fiscal year.

That's down 17 percent from $84.5 million the year before, according to an Associated Press analysis of Oracle's securities filings.

The drop came despite a better financial performance by the business software company. In fiscal 2010, Oracle made a profit of $6.1 billion, up 10 percent from the year before. Revenue climbed 15 percent to $26.8 billion.

The AP calculation aims to isolate the value company boards place on CEOs' total compensation. It includes salary, bonus, incentives, perks and the estimated value of stock options and awards at the time they are granted.

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