Microsoft CEO Satya Nadella’s FY24 compensation surged 63% 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% during the fiscal year ended June 30, 2024.
Backed by its investment OpenAI, Microsoft is widely seen as a frontrunner in the race for market dominance in the rollout of GenAI. However, Nadella’s asked for a reduction following multiple cybersecurity breaches reported during the fiscal year.