Oracle’s Top Lawyer Levey Nets Pay Bump Amid Big AI, Data Deals

Oracle Corp.’s chief legal officer Stuart Levey saw his pay package increase slightly this year, to almost $14.7 million, as the technology giant takes part in a US government-backed deal involving social media platform TikTok.

Levey saw the bulk of his 8% hike in total compensation comprised of about $13.7 million in stock awards that will vest in future years, according to a proxy statement filed late Friday. Levey’s base salary was $950,000.

Oracle declined to discuss Levey’s remuneration. The company said in its most recent proxy filing that Levey played a “critical role in setting the strategy” for the company’s litigation and regulatory matters, while overseeing a “wide range of areas, including compliance and ethics, data protection and privacy, intellectual property, and corporate governance.”

Levey has been one of the highest-paid US public company legal leaders since moving to Oracle in 2022 to succeed its retired longtime legal chief Dorian Daley.

The company appointed two new co-CEOs this month after raising $18 billion in a bond offering to help Oracle as it looks to meet increased expenses stemming from the artificial intelligence boom. Freshfields handled Oracle’s bond offering.

Oracle’s role in a proposed TikTok transaction that includes a consortium of other investors will require the company to safeguard the data privacy of the service’s American users. Larry Ellison, Oracle’s billionaire executive chairman and co-founder, has long been an ally of President Donald Trump.

Oracle’s stock price has soared within the past year as the company’s cloud computing unit has benefited from AI-driven demand, which has also made Ellison the world’s second-richest person behind Elon Musk.

The company is also in the process of moving its global headquarters to Nashville after initially shifting its operational base from Silicon Valley to Austin, Texas, although most of the company’s office workers still remain in California.