Bobby Kotick is one of the highest-paid CEOs in the U.S.

Activision Blizzard head honcho Bobby Kotick was one of the highest-paid CEOs in America last year, Bloomberg reports. Earning $64.9 million -- $55.9 million in of it in stock which he'll vest over the next 5 years, so he isn't just pocketing all of it in cash -- puts Kotick behind Oracle's Larry Ellison, America's top-paid CEO, who earned $96.2 million in 2012. Looking to other game industry execs, Kotick's nearest comparison would be EA's former CEO John Riccitiello, who resigned in March, but made $9.5 million in 2012.

So why the pay raise, an eight-fold increase over Kotick's $8.33 million salary in 2011? It's part of Kotick's new employment contract, which included big bonuses tied to corporate performance. If Activision Blizzard continues to do well, Kotick will keep earning big dollars -- if he hits the highest performance targets, he could be making even more this year.

[Update: Clarified Kotick's stock vesting]