Michael O'Leary is not Ryanair nor has he ever claimed to be. True he has a generous incentive scheme allied to performance but bearing in mind he is already very wealthy and is quite happy to pay millions in tax in that Tax Haven (Not) Ireland then I see not what the reason is. Bearing in mind he bet the farm in 2001 when all were laughing at a stupid decision I guess the laughter is not there now.
For reference Ryanair has spent just under €7 billion in special dividends and buy backs since 2008 but hey begrudgery works if you want it to.
As for the dumb shareholders they could have put money in safe banks.....oh wait.