Microsoft boss gets 63% pay rise despite asking for reduction
Microsoft CEO Satya Nadella’s compensation increased by 63% to $79.1 million for the last fiscal year, even after he requested a reduction due to cybersecurity issues at the company.
This pay hike came despite his acknowledgment of personal accountability for multiple cyber attacks, which resulted in the company experiencing significant security breaches.
Nadella’s total earnings included a $71.2 million portion in stock options and a reduced cash incentive of $5.2 million, down from a possible $10.2 million.
He sought this reduction in light of incidents like a July 2023 breach where hackers accessed email accounts of around 25 organisations, including government agencies, which Microsoft attributed to Chinese hackers—a claim the Chinese embassy called “disinformation.”
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The company’s revenue rose by 16% in the fiscal year ending June 30, 2024, prompting the compensation committee to emphasize the strong financial performance while still recognizing Nadella’s request for a reduced cash incentive.
Critics have questioned the necessity of such high compensation for a leader already worth hundreds of millions, suggesting that the benefits of the company’s success should be more equitably shared among workers and society at large. Comparatively, other tech leaders have also received significant pay packages, but none approach the level of Tesla’s Elon Musk, whose potential earnings could reach $56 billion.
Written by Sakinat Musa Abubakar, Editor at Neptune Prime
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