The $1 club is back, and more billionaires want in.
But this isn't just a Valley tale. In 2008, chief executives of 32 companies in the Russell 3000 took $1or no base salary, ABC News reports. Among the most well known on the list were DreamWorks Animation's
Yet no one plays the PR maestro like Ellison. From the SEC filing:
The compensation committee recognizes that Mr. Ellison has a significant equity interest in Oracle, but believes he should still receive annual compensation because Mr. Ellison plays an active and vital role in our operations, strategy and growth. Nevertheless, during fiscal 2010, Mr. Ellison agreed to decrease his annual salary to $1 ...
Translation: "We begged him to take more money, but he said no."
Fine. Let's just make sure the net result of this (ahem) sacrifice isn't a higher rate of stock dilution in the future. Oracle has more than enough in the bank to pay you well, Larry. You needn't pick my portfolio to earn your keep.
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Fool contributor Tim Beyers, had stock and options positions in Apple and Google and a stock position in Oracle at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. The Motley Fool is also on Twitter as @TheMotleyFool. The Fool's disclosure policy is ... [welcome to Mad Libs day at Fool HQ].