OMG! Larry Ellison not the best paid CEO anymore

This piece of news brought us to tears. Oracle’s eccentric co-founder and CEO Larry Ellison is has been pushed from the nation’s top spot of the highest earning executives. His 2008 package totaling $543 million got him the second spot in the list this year after securing a comfortable #1 position last year with a payout of $193 million. Steve Jobs, by the way, held the prestigious spot in 2006 with $646 million.

So, who got the #1 title in 2008? The honor went to Blackstone Group CEO Stephen Schwarzman, who made $702 million last year. While we are trying to figure out how we could ever spend $702 million in one year and what the purpose of such a – sorry – ridiculous payout would be, we do have to admit that it makes sorta sense that the top executive of a company who only deals with money made the most money in the country. To be fair, we should mention that the lion’s share of Schwarzman’s pay was, of course, not all in cash, but (vested) stock options. Schwarzman’s 2008 cash compensation was a measly $350,000.

We are quite sure that Larry has another ace up his sleeve to get the title he has held so often in the past back. He may not have the biggest jet in Silicon Valley (that honor would go to the Google boys), but he surely makes sure he has the biggest yacht and the highest annual compensation is just a minor thing to take care of. Ellison currently owns 22.59% of Oracle.