Microsoft CEO Satya Nadella’s 2024 pay rose 63% to $79 million on stock awards
In a filing released on Thursday, it was reported that Satya Nadella, Microsoft’s CEO, experienced a remarkable 63% increase in his fiscal 2024 compensation, reaching $79.1 million. This surge was primarily driven by his stock awards, especially notable in a year where the tech giant’s market value exceeded $3 trillion.
In 2023, Nadella’s stock awards surged to approximately $71 million, showing a significant increase from $39 million in the previous year, while his total earnings amounted to $48.5 million.
During the financial year ending on June 30, 2024, Microsoft saw a significant increase of approximately 31.2% in its share value.
Microsoft is often viewed as a leading contender in the competition for market supremacy in the deployment of generative artificial intelligence (AI), thanks to its support for OpenAI, the creator of ChatGPT, alongside other major tech giants.
Nadella voluntarily reduced his cash incentive from $10.7 million to $5.2 million due to various cybersecurity breaches reported during the fiscal year, as disclosed in the filing.
In 2023, Tim Cook, the CEO of Apple, made $63.2 million, joining the ranks of other prominent tech executives.
In the fiscal year 2024, Jensen Huang, the CEO of Nvidia, received a payout totaling $34.2 million due to the company’s success in AI-chip manufacturing.
