Tuesday, November 22, 2005

It's good to be the king

Oracle chief Larry Ellison settled a law suit brought against him because of a $900M gain (that's gain!) he realized just shortly before ORCL went down considerably in 2001. Without admitting any wrong doing he agreed to pay $100M to a charity (of his choice). Pretty nice since I would think a charitable donation is deductible even if a law suit (not a government order) required you to make the donation. Then today it was decided he also needed to pay the legal fees involved in the suit, so an additional $22M. In case you were worried about how poor Larry would come up with the $122M, don't fret he has 5 yrs and various places to draw from (that we know about).

  1. Direct shares of ORCL held 1,300,00,000 shares...that's billion! At today's price that's $16B
  2. Cash from sales of ORCL stock for just 2004, $1.1B
  3. Extremely large Bay Area home (that looks something like the Royal Palace in Tokyo) with lakes and traditional Japanese wood boats), approx. $50M
  4. Various large and small business jets, fighter jets, misc. planes $300M
  5. Various sail and motor yachts, and frequent participant in trying to own the worlds largest private yacht (or really ship)....approx. $500M

You get the idea...this is like a parking ticket!

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