Microsoft CEO Satya Nadella’s fiscal 2024 compensation soared by 63% to $79.1 million, as per a filing released on Thursday, driven by stock awards during a year when the tech giant’s market value surpassed $3 trillion.
Nadella’s stock awards jumped to approximately $71 million, up from $39 million in 2023 when he earned $48.5 million.
During the fiscal year ending June 30, 2024, Microsoft’s shares rose by about 31.2%.
Boosted by its investment in ChatGPT creator OpenAI, Microsoft is widely viewed as a leader in the race to dominate the generative artificial intelligence (AI) space, competing with other tech giants.
Despite being eligible for a $10.7 million cash incentive, Nadella requested a reduction to $5.2 million due to multiple cybersecurity incidents reported during the fiscal year, as mentioned in the filing.
By contrast, Apple CEO Tim Cook earned $63.2 million in 2023, whereas Nvidia CEO Jensen Huang received $34.2 million in fiscal 2024.
