Microsoft CEO Satya Nadella made $42.9 million last year

Microsoft CEO Satya Nadella earned $42.9 million in total compensation for the fiscal year 2019, 66 percent more than the previous fiscal.

Nadella received a $1 million base salary jump and an increase in stocks.

In a statement  Microsoft’s independent directors said, “Nadella’s strategic leadership, including his efforts to strengthen trust with customers, drive for a company-wide culture change, and successful entry and expansion into new technologies and markets.”

When Nadella took over from Steve Ballmer in 2014, Nadella took home $84.3 million which is the highest earnings in a fiscal year for him so far.

The average compensation in Microsoft was $172,512, the company said.

During the first five-year performance period, Microsoft’s market capitalisation increased $509 billion from $302 billion to $811 billion.

Microsoft’s board of directors last month authorized another $40 billion in share repurchases and raised its quarterly dividend by 5 cents  to 51 cents a share. The company bought back $19.54 billion in shares last year. In the previous fiscal year, the buybacks was worth $10.72 billion.

The company will hold its annual shareholders meeting on December 4.

This year’s annual shareholders meeting will be held virtually and hosted by Nadella, Amy Hood, chief financial officer, Brad Smith, President and chief legal officer and John W. Thompson, Microsoft independent board chair.

Driven by growth in its Cloud and Surface laptop segments, the firm in the entire fiscal year 2019 reported revenue of $125.8 billion.

Microsoft that continues to be valued as a $1 trillion company returned $7.7 billion to shareholders in the form of share repurchases and dividends in the fourth quarter of fiscal year 2019.