As the Chief Executive Officer and Chairman at Occidental Petroleum, Ray Irani earned a total compensation of $60,467,849 in 2008, which decreased by 22.11% compared to 2007.

Of this total, $1,300,000 was earned as salary, $900,000 was received as a bonus, $37,950,222 was awarded as stock, $15,738,000 was received in stock options, $2,730,000 was awarded from non-equity incentive plan, and $1,849,627 came from all other compensation.

The Other amount includes $13,800 credited pursuant to the Occidental Petroleum Corporation Savings Plan; $729,900 credited pursuant to the Occidental Petroleum Corporation Supplemental Retirement Plan II described on page 33; $127,235 for life insurance premiums; and $978,692 in the aggregate for personal benefits. Personal benefits include security services ($575,407) and tax preparation and financial planning services ($403,285).

Ray Irani worked with R. Casey Olson, John Morgan, Donald de Brier, and Stephen Chazen at Occidental Petroleum in 2008.

Compensation Data Fiscal 2008 Ends: Dec 31
  • Salary$1,300,000
  • Bonus$900,000
  • Stock Awards$37,950,222
  • Option Awards$15,738,000
  • Non-Equity Incentive$2,730,000
  • Other$1,849,627
  • Total$60,467,849
Occidental Petroleum
Oil & Gas Exploration and Production