- Associated Press - Saturday, September 22, 2012

Oracle Corp. has boosted the pay of founder and CEO Larry Ellison to $96.2 million, up from $77.6 million a year earlier.

Most of the pay is in stock options that have little value as of today. Ellison’s base salary for the fiscal year that ended May 31 was $1.

Oracle’s profit fell below its internal goals. So it cut Ellison’s performance-based bonus to $3.9 million, down from $13.3 million a year earlier. Similar cuts were made for other senior executives.

Forbes has estimated Ellison’s net worth at $41 billion, third on the list of the richest Americans, behind Bill Gates and Warren Buffett.

The Associated Press’ calculation is based on a regulatory filing made Friday. It includes salary, bonus, incentives, perks and estimated values of stock options and awards.