Microsoft Chairman Bill Gates, the worlds richest man, got a modest pay raise over the last year, according to a company filing.
Gates, who is also the companys chief software architect, received $901,667 in salary and bonus from the company for the fiscal year ended June 30, the company revealed in its proxy filing with the Securities and Exchange Commission. Thats up 4.4 percent from the year earlier total in salary and bonus.
But Gates" increase was lower than the nearly 15 percent rise in pay and bonus he received the previous fiscal year. The filing also shows Microsoft CEO Steve Ballmer received the identical pay and bonus as Gates, as he has each of the previous two years. Neither executive received stock options.
With 1.1 billion shares of Microsoft stock, or about 10 percent of its shares outstanding, Gates" dividends during the year came to about $175.6 million.
This November, the company plans to pay a special dividend of $3 per share, subject to shareholder approval. The company announced in July that Gates will donate his $3.3 billion proceeds of the special dividend to the Bill and Melinda Gates Foundation, the charitable organization named for him and his wife.
News source: CNN Money