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Microsoft CEO Satya Nadella receives 63% pay increase for 2024
As Microsoft's market value soars past $3 trillion, Nadella's stock awards significantly boost his earnings, despite a dip in cash incentives linked to cybersecurity concerns.
Satya Nadella's impressive stock awards highlight Microsoft's robust position in the burgeoning generative artificial intelligence sector, notably bolstered by its investment in OpenAI. (Image source: Stanford Graduate School of Business)
Microsoft announced that CEO Satya Nadella's compensation for fiscal 2024 rose by a staggering 63%, reaching $79.1 million, according to reports.
This increase is primarily attributed to a substantial rise in stock awards, which surged to approximately $71 million, up from $39 million the previous year. This financial boost aligns with a remarkable period for Microsoft, as the tech giant's market value exceeded $3 trillion and its shares experienced a notable 31.2% increase during the fiscal year ending June 30, 2024.
Nadella's impressive stock awards highlight Microsoft's robust position in the burgeoning generative artificial intelligence sector, notably bolstered by its investment in OpenAI.
However, the CEO's cash incentive took a hit, falling to $5.2 million from an eligible $10.7 million. This reduction was a voluntary decision by Nadella in light of several reported cybersecurity breaches within the company during the fiscal year.
In comparison, other tech industry leaders also saw significant compensation packages. Apple's CEO Tim Cook earned $63.2 million in 2023, while Nvidia's CEO Jensen Huang received a payout of $34.2 million for fiscal 2024.
SPOTLIGHT
As India eyes global leadership in media, entertainment and gaming, Storyboard18's Digital Entertainment Summit, set to take place on June 27 in the capital, will spotlight the bold strategies, policy pathways and creative innovations shaping the future of the industry.
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