Microsoft CEO Satya Nadella got $42.9 million in total compensation in fiscal 2019, a 66% raise as the company achieved business targets and grew its stock price.
Nadella, who took over as CEO in 2014, received the $42.9 million in total compensation, mostly in stock awards, in the 2019 fiscal year that ended on June 30, according to news reports quoting Microsoft’s annual proxy statemen that came out Oct. 16.
Under his leadership, Microsoft has become a major force in cloud computing.
According to CNN and other media reports, Nadella’s total compensation in 2019 was up from $25.8 million the year prior. With a base salary of more than $2.3 million, most of his pay came from stock awards.
Nadella made 249 times more than the company's median employee in fiscal year 2019.
However, Nadella’s compensation in 2019 was lower than the record $84.3 million he received in the 2014 fiscal year when he took over from Steve Ballmer.
News of the raise has come as Microsoft's stock price has risen. In September, it hit an all-time high after the company raised its dividend and authorized a plan to buy back as much as $40 billion of its own stock.
The reports noted that a year ago Microsoft took back from Apple the title of the most valuable public company in the world. On October 16 its market capitalization exceeded $1.07 trillion.
By comparison, Apple (AAPL) CEO Tim Cook received $15.7 million in 2018 with $3 million in salary. Google (GOOG) CEO Sundar Pichai received $1.9 million in overall compensation, according to CNN Business.
Bloomberg previously reported that Pichai turned down a stock award. Amazon CEO Jeff Bezos, the richest person in the world, has received the same $81,840 salary for two decades. He also receives $1.6 million in security-related services and business travel each year.
“During the first five-year performance period, Microsoft’s market capitalization increased $509 billion (from $302 billion to $811 billion), and Microsoft’s relative TSR was in the 97th percentile, resulting in Mr. Nadella earning and vesting in the maximum 900,000 shares,” Microsoft said in the filing.