Oracle bumps CEO Larry Ellison’s pay by $18.6 million

Oracle CEO Larry Ellison, the sixth richest man in the world, got a nice boost in his annual compensation during the Redwood City tech giant’s last fiscal year.

The company’s directors  increased his annual compensation from $77.559 million in fiscal 2011 to $96.16 million in fiscal 2012, according to a regulatory filing by the company on Friday.

Ellison, whose net worth has been pegged at $41 billion by Forbes Magazine, warranted every penny of his added compensation, which primarily involves stock options, according to the filing.

Noting his “active and vital role in our operations, strategy and growth,” the board called Ellison “vital to our success going forward.”

 

 

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