Microsoft CEO Satya Nadella got a decent pay rise in 2024 - despite actually asking for less
Nadella reportedly set to earn over $79 million in 2024
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MicrosoftCEO Satya Nadella took home $79.1 million in 2024, marking a 63% increase compared with the previous year, reports have claimed - despite actually requesting a reduction in his pay.
Despite his substantial compensation package, Nadella had requested a reduction in his cash incentive, following a number security challenges affecting the company recently, which had led toa Microsoft commitment to link executive pay to security outcomes.
In response, the Microsoft board agreed to reduce Nadella’s cash incentive to $5.2 million, marking a more than 50% reduction from the $10.7 million sum he was initially eligible for.
Satya Nadella got a $79 million pay packet in 2024
“The Board reviewed the Company’s performance and firmly believes that Mr. Nadella provided exceptional leadership and was both critical in achieving the extremely strong performance of the Company and personally responsible for the ongoing repositioning of its investments and priorities," an extract in a letter from the Microsoft Compensation Committee read.
“It also considered the factors that Mr. Nadella raised in requesting a reduction of his cash incentive and concluded that such an adjustment was appropriate.”
While part of this multimillion-dollar sum came in the form of pay, Nadella’s stock alone, expected to account for around $71 million, made up a major part of his earnings, according to a company filing.
At the beginning of the 2024 calendar year, Microsoft became one of the now three tech companies to reach a $3 trillion market cap after it became a $2 trillion company in 2021.
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In its final financial year quarter, ending June 30, Microsoft drew in $64.7 billion in revenue, bringing its annualized revenue to $245.12 billion, up from the $211.92 billion in revenue it made the year before. The tech giant’s share price also rose by 31.2% in its most recent full year.
“Our strong performance this fiscal year speaks both to our innovation and to the trust customers continue to place in Microsoft,” Nadella said at the time.
ViaReuters
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With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!
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