by The Chicago Times Business Staff
December 1, 2021
REDMOND, WA — Microsoft Chairman and CEO Satya Nadella has sold more than half of his investment in the software giant.
According to a statement with the Securities and Exchange Commission, Nadella sold almost 840,000 shares of Microsoft right before Thanksgiving, garnering him around $285 million in cash. Microsoft stock has soared more than 50 percent this year.
Since Nadella took over as CEO in 2014, Microsoft has had good sales and earnings as a result of its cloud leading position. The company’s value has risen to more than $2.5 trillion.
According to Microsoft’s most recent annual shareholder proxy statement filed with the SEC, Nadella earned $2.5 million this fiscal year and has a total annual compensation package of roughly $50 million, which includes stock awards and cash incentives. During the previous two fiscal years, Nadella made more than $40 million.
The corporation generates revenue from its core Office 365 suite of Word, Excel, PowerPoint, and other business software, as well as its LinkedIn corporate social networking section and Xbox gaming division.
The stock sale comes as Microsoft’s home state of Washington prepares to adopt a 7% long-term capital gains tax.