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Microsoft’s Nadella Is the $84 Million Man

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Microsoft’s Nadella Is the $84 Million Man

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The same man who suggested women count on “good karma” for a pay raise is now one of the top-earning professionals in the tech industry.

Microsoft CEO Satya Nadella is worth a whopping $84.3 million, according to a document filed with the Securities and Exchange Commission(Opens in a new window).

Most of the compensation package, which is made up of about $79.8 million in one-time stock awards, will not be doled out until 2019.

Nadella was named the third Chief Executive Officer of Microsoft in February, taking the reigns from Steve Ballmer, who announced plans to step down as CEO in August 2013. During his 22 years with the company, Nadella most recently served as executive vice president of Microsoft’s cloud and enterprise group.

Based on Redmond’s proxy statement, filed Monday with the SEC, Nadella will receive $59.2 million in a long-term performance-based stock award. He also collected $13.5 million as incentive to stay with the company during its search for the next CEO.

Excluding the one-time award, Nadella earned $11.6 million this year, which is comprised of a $918,000 salary, a $3.6 million annual cash bonus, and a $7.1 million yearly stock award.

The disclosure probably won’t earn Nadella any new friends, especially after he recently told a conference full of women that female tech employees should not ask for a pay raise, but instead “know and have faith that the system will actually give you the right raises as you go along.”

Calling that “one of the additional superpowers” that women who don’t ask for a raise have, he told Harvey Mudd College President Maria Klawe that “that’s good karma [and] it’ll come back.”

Amidst backlash, Nadella apologized (multiple times) and outlined a new diversity plan for his company, which counts a 70-to-30 ratio of male to female employees among its approximately 130,000 workers.

Also this week, Microsoft promised to provide free cloud-computing and research applications to qualified medical researchers studying the Ebola virus.

During a Monday presentation in San Francisco, Nadella said that, starting today, the company will offer Microsoft’s Azure cloud-computing platform(Opens in a new window) to users who can remotely access large amounts of information.

“In addition we have some tools that Microsoft researchers built to be able to do vaccine discovery, so we want to take all of that and make it available for the research community,” Nadella said, according to Reuters(Opens in a new window).

Researchers affiliated with academic institutions can submit proposals to Microsoft.

That comes after Microsoft’s first CEO, Bill Gates, donated about $50 million to fight Ebola via the Bill and Melinda Gates Foundation. Facebook’s Mark Zuckerberg and wife Priscilla Chan also donated $25 million.

For more, see 5 Things to Know About Satya Nadella.

Editor’s Note: This story was updated on Oct. 22, with a link to Microsoft’s Azure Award for Ebola Research.

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Source link : https://www.pcmag.com/news/microsofts-nadella-is-the-84-million-man