That is the difference. A CEO, unlike "most shareholders", is being paid to run the company. S/he is supposed to be an executive: one who executes: one who does

That is the difference. A CEO, unlike "most shareholders", is being paid to run the company. S/he is supposed to be an executive: one who executes: one who does things. A CEO who's never at the office is anomalous in a way that a shareholder who's never at the office isn't. (Quite separately from the Larry Ellison question, it's worth observing that working and being at the office are entirely different matters. A hard-working CEO might spend most of his or her time sat at home thinking deep strategic thoughts, or touring around potential investors or customers trying to understand and/or impress them, or something. So a CEO who's seldom at the office isn't necessarily slacking off. Again, I am not claiming that this observation has any particular applicability to Larry Ellison.)