The CEO of Microsoft, Satya Nadella, is set to receive a whopping $79.1 million in compensation for this financial year, marking a significant 63 percent increase from the previous year. This substantial raise in pay, which includes both cash and stock, was announced by Microsoft recently, reflecting a positive year for the company’s financial performance despite internal challenges faced by its employees.
Although 2024 witnessed two significant rounds of layoffs at Microsoft, with 1900 employees being let go in January followed by another 650 Xbox staff members in September, the company’s shares have seen an increase and its market value now exceeds $3 trillion as it continues to leverage the growth of AI technology.
In a strategic move, Microsoft closed down three Bethesda gaming studios in June – Arkane Austin, Tango Gameworks (now external), and Alpha Dog – with Xbox chief Phil Spencer citing a lack of overall growth in the console market as the reason behind the decision.
In the 2024 Annual Report released by Microsoft, Nadella expressed optimism about the future, stating, “We are bringing great games to more people on more devices.” With the acquisition of Activision Blizzard King in October 2023, Microsoft has expanded its ecosystem to include hundreds of millions of players. The company now boasts 20 franchises that have generated over $1 billion in lifetime revenue, ranging from popular titles such as Candy Crush, Diablo, and Halo to Warcraft, Elder Scrolls, and Gears of War.
Nadella further highlighted the innovation in Xbox cloud gaming, offering players more options to enjoy their favorite games across various platforms. Additionally, Microsoft has extended its reach by bringing four fan-favorite titles to Nintendo Switch and Sony PlayStation for the first time, with plans to release more games in the coming months.
One such upcoming release is Indiana Jones and the Great Circle, set to launch for PC and Xbox in December, followed by a release on PlayStation in February 2025, signaling Microsoft’s commitment to expanding its content to new platforms.