(Reuters) – Microsoft CEO Satya Nadella’s fiscal 2024 compensation rose 63% to $79.1 million, in accordance with a submitting on Thursday, helped by inventory awards earned in a 12 months when the tech big’s market worth has exceeded 3 trillion {dollars}.
Equity awards for Nadella, who earned $48.5 million in 2023, rose to about $71 million from $39 million a 12 months earlier.
Microsoft shares gained about 31.2% in the course of the fiscal 12 months ended June 30, 2024.
Buoyed by its funding in ChatGPT maker OpenAI, Microsoft is extensively seen as a pacesetter within the race for market dominance in rolling out generative synthetic intelligence (AI) amongst different tech heavyweights.
However, in accordance with the doc, Nadella’s money incentive of $5.2 million was lower than the $10.7 million he was entitled to as a result of he requested a discount following a number of cybersecurity breaches reported in the course of the fiscal 12 months.
Among different high-profile tech bosses, Apple CEO Tim Cook earned $63.2 million in 2023.
AI chip big Nvidia’s CEO Jensen Huang’s compensation was $34.2 million in fiscal 2024.
(Reporting by Sourasis Bose in Bangalore; Editing by Sriraj Kalluvila)
