NEW DELHI: Microsoft CEO Satya Nadella’s compensation for fiscal 2024 increased by 63%, reaching $79.1 million, a company filing revealed on Thursday. This surge was primarily due to stock awards. Nadella’s compensation in 2023 was $48.5 million.
The filing detailed that Nadella’s stock awards rose to about $71 million from $39 million the previous year. Microsoft’s market value surpassed $3 trillion, with shares gaining around 31.2% in the fiscal year ending June 30, 2024.
Microsoft’s investment in OpenAI, the company behind ChatGPT, has positioned it as a leader in the development and deployment of generative artificial intelligence.
Nadella’s cash incentive was $5.2 million, less than the $10.7 million he was eligible for. According to the filing, he requested a reduction following multiple cybersecurity breaches reported during the fiscal year.
For comparison, Apple’s CEO Tim Cook earned $63.2 million in 2023, while Nvidia CEO Jensen Huang received $34.2 million in fiscal 2024.