Billionaire Larry Ellison gets a 24 percent raise from Oracle (though he’s probably worth it)

What does Oracle CEO Larry Ellison do when he’s not buying entire islands? He gets paid lots and lots of money.

Oracle gave Ellison a compensation package of $96 million during its fiscal 2012. That’s a 24 percent increase over the CEO’s 2011 compensation package of roughly $78 million.

In all, Ellison’s stake in Oracle is worth about $37 billion, which makes his $1 salary that much more minuscule.

A raise for one of the world’s richest men might seem extreme, but at least Oracle has been faring well. Revenue was up by 4.2 percent, and profits rose by 16.8 percent during its fiscal 2012.

Moreover, compared to the $12 million payouts given to the former RIM CEOs, for instance, or the $32 million Best Buy could give its new, relatively inexperienced leader, Ellison’s compensation might not be too egregious.

Ellison’s compensation, it should be mentioned, doesn’t even come close to matching that of Apple CEO Tim Cook, who brought in $378 million during his first year at the helm.

Photo: Oracle PR.