Oracle CEO Reaped $706 Million on Options

Oracle Corp. Chief Executive Larry Ellison reaped a $706-million windfall by cashing in 23 million stock options while his company’s recently swooning shares were still flying high, according to a filing with the Securities and Exchange Commission.

Ellison, one of the world’s richest men despite $46 billion in paper losses during the last year, previously had acknowledged that he realized a huge gain in an earlier filing with the SEC.

Ellison realized an average gain of $30.64 on each of the stock options he redeemed, according to the filing. He sold most of the options in January, a few weeks before Oracle’s stock sank.

Oracle’s shares fell 13 cents to close at $12.08 on Nasdaq. The stock reached its split-adjusted high of $46.32 last summer.