Larry Ellison highest paid CEO, Forbes reveals
Larry Ellison, who co-founded Oracle Corporation, was named as the highest paid CEO by Forbes magazine this month.
He was paid a total $556 million in a period of 12 months, more than double the compensation paid to CEO of Occidental Petroleum, Ray R Irani, who is ranked second. The third position goes to John B Hess of Hess, followed by Mark G Papa, the head of EOG Resources.
Prior to venturing on his own, Ellison worked with Ampex Corporation, an electronic company which manufactured electric motors and generators. It is during this time, he had a stint working on a database project for the CIA, a project he named as ‘Oracle’.
A few years later, Ellison founded a company by using the same, Oracle, putting a meager sum of $2000 as the start up capital. Known as a hard-headed leader, Ellison worked tirelessly in its effort to build a small outfit into a world-changing empire. With aggressive approach, backed with a group of highly competent workforce, Oracle went on to become one of the fastest growing companies in America and the world.
As of March 2009, Ellison is the fourth richest person in the world behind Bill Gates, Warren Buffett and Carlos Slim Helu, with an estimated net worth of $22.5 billion. He currently owns about 23% of the Oracle company.