Oracle's Larry Ellison was number two on the list. (Creative Commons)

The heads of media companies such as Viacom, Time Warner, CBS, DirecTV and Walt Disney led the way as usual. News Corp.'s Rupert Murdoch was 52nd on the rankings.

Philippe Dauman of Viacom was first on the list and received more than $84 million in 2010--double what he received in 2009.

Viacom doubled its profits in the first quarter of this year because of strong ad revenues at its television networks from MTV to Nickelodeon.

Compensation could drop next year for many of these CEOs because of a new federal regulations that allow company shareholders to have their voice heard in determining executive compensation. While the opinions of the shareholders won't be binding on the companies, several boards of directors including that of General Electric have already adjusted forthcoming pay for their CEOs in anticipation of the new rule.

The Journal looked at salary, bonuses, incentives and stock holdings and options for CEOs of 350 large companies that filed public documents during the past year.