Ellison laughing all the way to the bank
PrintTook $1bn in share options instead of salary
Posted in Business, 13th September 2000 11:09 GMT
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Oracle boss Larry Ellison is set to add another £1 billion to his fortune from share options he took last year instead of his regular salary.
His decision to forgo his £2.7 million a year pay package in favour of the 20 million share options has proved to be an extremely shrewd move.
Lord Ellison of Barking made the switch last year just before Oracle's share price went through the roof. The six-fold increase in the share's value now means that the options package is worth a cool £1 billion.
Ellison is worth around £42 billion - just behind Gate's £43 billion. ®
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