Microsoft CEO Satya Nadella’s fiscal 2024 compensation surged 63 per cent to $79.1 million, according to a filing on Thursday, helped by his stock awards in a year when the tech behemoth’s market value breached $3 trillion.
Stock awards for Nadella, who earned $48.5 million in 2023, climbed to about $71 million from $39 million a year earlier.
Microsoft’s shares had gained about 31.2 per cent during the fiscal year ended June 30, 2024.
Backed by its investment in ChatGPT maker OpenAI, Microsoft is widely seen as a frontrunner in the race for market dominance in the rollout of generative artificial intelligence (AI) among other tech heavyweights.
However, Nadella’s cash incentive of $5.2 million was less than the $10.7 million he was eligible for as he asked for a reduction following multiple cybersecurity breaches reported during the fiscal year, according to the filing.
Among other high-profile tech bosses, Apple’s CEO Tim Cook earned $63.2 million in 2023.
AI-chip giant Nvidia’s CEO Jensen Huang’s payout was $34.2 million in fiscal 2024.
