(Reuters) – CEO Satya Nadella’s 2024 compensation rose 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 broke $3 trillion.
Stock awards for Nadella, who received $48.5 million in 2023, rose to $71 million from $39 million a year earlier.
Microsoft shares gained about 31.2% in the fiscal year ending June 30, 2024.
Backed by its investment in ChatGPT developer OpenAI, Microsoft is widely seen as the frontrunner in the race for market dominance in the rollout of productive artificial intelligence (AI) among other tech heavyweights.
However, Nadella’s $5.2 million in cash was less than the $10.7 million he was eligible for as he requested a reduction following multiple reported security breaches during the fiscal year, according to the filing.
Among other high-profile tech executives, Apple CEO Tim Cook earned $63.2 million in 2023.
AI-chip giant Nvidia’s CEO Jensen Huang’s salary was $34.2 million for the 2024 fiscal year.
(Reporting by Sourasis Bose in Bengaluru; Editing by Sriraj Kalluvila)
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