Oracle also kicked off a massive round of redundancies last month
Larry Ellison’s total compensation grew by about 12 times the amount seen the year prior.
A successful 2022 fiscal year for Oracle included huge growth in the pay packages of some of its top executives, according to documents filed with the U.S. Securities and Exchange Commission.
Oracle co-founder and CTO Larry Ellison's total compensation grew by about 12 times the amount seen the year prior. CEO Safra Catz's total compensation grew about 13 times.
Oracle's 2022 fiscal year ended 31st May, 2022.
The median global employee at Oracle made $75,043 in fiscal year 2022, according to the documents. Catz's total compensation is 1,842 times that amount.
'This total compensation amount was atypically high due to the modification of the PSOs [performance stock options] in fiscal 2022 to extend the PSO performance period by three fiscal years,' according to Oracle.
Catz's annualised compensation value without performance stock options brings the compensation down to a mere 334 times the pay for the median global Oracle employee.
For all of fiscal year 2022, Oracle reported revenue of $42.4 billion, up 5% over last year's $40.5 billion. Cloud services and license support revenue rose 5% to $30.2 billion, cloud license and on-premises license revenue grew 9% to $5.9 billion, hardware revenue fell 5% to $3.2 billion, and services revenue increased 6% to $3.2 billion.
The first quarter of Oracle's 2023 fiscal year also showed healthy growth, with $11.4 billion in total revenue for the quarter, up 18% year-over-year. Recent acquisition Cerner contributed $1.4 billion to total revenue.
This, as a reminder, is the company that said it would have to slash staff numbers to save $1 billion. It began this operation in August, but has not said how many staff have lost their jobs.
Here's a look at the fiscal 2022 compensation packages for Oracle's top executives.
