Microsoft boss Satya Nadella has reportedly raked in additional than $1 billion in compensation on the firm – a private fortune bolstered by the tech big’s prescient funding in OpenAI’s ChatGPT device.
Bloomberg calculated Nadella’s windfall by tallying his wage, bonuses, inventory dividends and fairness grants that had been disclosed in Microsoft’s public regulatory filings.
He earned practically $55 million in 2022 alone.
The 55-year-old’s earnings bonanza has coincided with a interval of large success for Microsoft’s inventory since Nadella took over as CEO in 2014.
Shares have risen greater than 1,000% over that interval, together with a surge of practically 50% because the begin of this yr.
Microsoft spokesperson Frank Shaw pushed again on the report, telling Bloomberg that Nadella “doesn’t have internet price of a billion {dollars} or extra.”
Shaw reportedly declined additional touch upon the matter.
Microsoft didn’t instantly return The Post’s request for remark.
The majority of Nadella’s purported $1 billion windfalls is derived from fairness grants tied to efficiency and repair time.
The report stated Nadella has “periodically bought a few of his shares” within the firm and gifted $20 million in inventory to undisclosed beneficiaries.
In January, Microsoft notably invested $10 billion in OpenAI, whose ChatGPT device has exploded in reputation on account of its capability to generate human-like response to all kinds of consumer prompts.
The funding is broadly seen as having given Microsoft a leg up on rivals resembling Google guardian Alphabet within the race to develop superior AI instruments.
Microsoft has built-in OpenAI’s ChatGPT expertise with its Bing search engine.
Nadella has labored at Microsoft since 1992, elevating to the extent of government vp of its cloud division earlier than changing firm legend and billionaire Steve Ballmer as CEO in 2014.
Bloomberg famous that Nadella has reached rarified standing amongst tech executives who’ve personally benefitted from the sector’s growth over the past decade.
The report said that Apple CEO Tim Cook had turn out to be a billionaire roughly 9 years after he turned the iPhone maker’s prime government.
Elsewhere, Google CEO Sundar Pichai is among the many business’s large winners, having earned payouts that topped $200 million on three separate events because of a profitable stock-based compensation plan.
The large CEO paydays have rankled some tech business employees as main corporations enacted sweeping layoffs and different cost-cutting measures over the past yr.
In June, Microsoft employees reportedly criticized Nadella for touting the corporate’s “landmark yr” months after slashing 10,000 jobs.
