Microsoft CEO Satya Nadella's compensation for fiscal 2024 increased by 63% to reach $79.1 million, as reported in a filing on Thursday. This significant rise was largely attributed to his stock awards during a year when the company's market capitalization exceeded $3 trillion.
Nadella's stock awards rose to approximately $71 million, up from $39 million the previous year, compared to his total earnings of $48.5 million in 2023.
During the fiscal year ending June 30, 2024, Microsoft’s shares experienced a growth of about 31.2%.
With its investment in OpenAI, the creator of ChatGPT, Microsoft is perceived as a leading contender in the competitive landscape of generative artificial intelligence, alongside other major technology firms.
Despite this increase, Nadella's cash incentive was $5.2 million, which was lower than the $10.7 million he could have received, as he opted for a reduction following several reported cybersecurity incidents during the fiscal year.
In comparison, Apple CEO Tim Cook earned $63.2 million in 2023, while Nvidia CEO Jensen Huang received $34.2 million in fiscal 2024.