WSJ Survey: Oracle, Expedia Chiefs Highest Paid CEOs of Decade
July 27, 2010
(ChattahBox)—With all of the ups and downs of the past ten-years in our economy, most notably the near economic collapse in 2008, and most of the focus on Wall Street compensation, the two highest paid CEOs actually head a technology firm and an Internet conglomerate. According to a Wall Street Journal survey of CEO compensation for the past decade, Larry Ellison, CEO of Oracle Corp. came in first, raking in $1.84 billion, while Barry Diller, CEO of IAC/InterActive and chairman of Expedia.com, receives $1.14 billion. Among the top 25 are interestingly, Angelo Mozilo, the former CEO of Countrywide Financial Corp. under investigation for insider trading and securities fraud.
According to the WSJ survey, only four of the top 25 CEOs worked for financial institutions. ”
Four of the top 25 CEOs worked at financial companies, two on Wall Street: former Lehman Brothers CEO Richard S. Fuld, at No. 11 with $457 million, and former Citigroup Inc. CEO Sandy Weill, who ranked 19th at $361 million.”
The survey ranked the overall compensation packages of the chief executives, including bonuses.
“The Journal analysis includes salaries, bonuses, perks and realized gains on both restricted stock and stock options; it excludes new grants of restricted stock and stock options. The analysis didn’t track whether executives sold shares they acquired after they exercised stock options or after previously restricted stock vested.”
The takeaway from the survey? High CEO compensation does not always translate into shareholder profit.
“Four of the 10 highest-earning executives ran companies whose shareholders lost money over the decade: IAC/InterActive, Countrywide, Capital One and Cendant Corp.”
See the Wall Street Journal for more.