Special Report

Eight Outrageous CEO Perks

1. Personal security
> 2012 value: $1,531,675
> CEO: Lawrence Ellison
> Company: Oracle Corporation

Larry Ellison, Oracle’s high-profile founder and CEO was recently thrust into the spotlight during The America’s Cup races in the San Francisco Bay Area. Team USA came from behind to win eight straight races to beat the New Zealand team. Ellison owns a great deal of real estate, including nearly all Lanai, the sixth-largest island of Hawaii. According to Oracle, the company required Ellison to install a state-of-the art security system in his home, “because of Mr. Ellison’s importance to Oracle.” Ellison paid for the installation and he pays for the upkeep of the system, but the company pays for the security personnel, a cost amounting to $1.53 million in 2012. The company also allows Ellison and family members to fly on a private jet Oracle leases from another company Ellison owns.

2. Private air travel
> 2012 value: $164,353
> CEO: David Zaslav
> Company: Discovery Communications, Inc.

David Zaslav came to Discovery Communications in 2007 from NBC Universal, where he helped launch both CNBC and MSNBC. Since his arrival at Discovery, Zaslav has received massive compensation packages, totalling more than $42 million in 2010, over $52 million in 2011, and nearly $50 million in 2012. Last year, in addition to a $3 million salary and more than $41 million in stock and option awards, Zaslav received more than $400,000 in other compensation, which was mostly related to travel expenses. Zaslav received more than $164,000 in benefits for personal — not business — use of a company aircraft in 2012. Zaslav is hardly alone in lavish air travel. Last year, the Hay Group told The Wall Street Journal that over two-thirds of CEOs at the largest 300 U.S. companies, by revenue, used corporate planes for personal use in 2011.

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3. Life insurance/disability insurance premiums
> 2012 value: $100,000
> CEO: James Q. Crowe
> Company: Level 3 Communications, Inc.

Jim Crowe announced in April he would be leaving American telecom company Level 3 Communications after 15 years as CEO. The company quickly replaced him with then-president and COO Jeff Storey. The transition will take place at the end of the year. As of 2012, Crowe was one of the highest-paid chief executives in the country, earning more than $40 million, the majority of which came in the form of stock awards. The company also allowed Crowe reimbursement of up to $100,000 in life insurance premiums and long-term disability insurance. Crowe was also allowed to use the company’s aircraft for personal use.

4. Lease of a Las Vegas Villa
>2012 value: $451,574
>CEO: Stephen Wynn
>Company: Wynn Resorts, Ltd.

Steve Wynn is the founder, chairman, CEO of Wynn Resorts, one of the the largest casino operators in the U.S. Under a contract signed in April 2012, the company leased Wynn a company-owned villa in Las Vegas. The company estimated the fair value of the lease at $451,574 for 2012. Wynn had a base salary of $4 million in 2012 and total compensation, including bonuses and other compensation totalling $17.7 million. The total compensation awarded to each of the four other top executives in the company was at least $2.2 million last year. Wynn Resorts shares were down slightly in 2012, but they are enjoying a much better 2013 and are up nearly 60% year-to-date.

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