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The Wall Street Journal recently unveiled its 2023 list of highest-paid CEOs in the US. In the Top 500, 17 executives are of Indian descent including Sundar Pichai of Alphabet Inc. (known as Google) and Shantanu Narayen of Adobe.
But this Indian-origin billionaire businessman trumped his counterparts to become the second-highest-paid CEO in the US, just behind Hock Tan of Broadcom…
Meet Palo Alto Networks CEO Nikesh Arora
Nikesh Arora is the CEO and Chairman of Palo Alto Networks, a multinational cybersecurity company headquartered in Santa Clara, California. The firm’s market capitalization, according to DNA India, stands at $91 billion (approximately Rs 7.5 lakh crore).
According to the Times of India, Nikesh Arora’s total compensation reached a staggering $151.43 million (approximately Rs 1,260 crore) in FY23. Arora’s mammoth salary is primarily attributed to his stock options. Nikesh beat out high-profile tech magnates like Sundar Pichai ($8.8 million or Rs 73 crore) and Meta CEO Mark Zuckerberg ($24.40 million or Rs 203 crore) to become the second-highest-paid CEO in the US.
Palo Alto Networks made a statement justifying Nikesh Arora’s hefty pay package owing to the tech executive’s strong performance: “Because of this significant vested ownership and the amount that Mr. Arora was projected to vest in over the next several years, the Board determined that a meaningful equity award would be necessary to ensure that such award retains and engages Mr. Arora,” according to Mint.
Nikesh Arora’s decade-long Google stint
Nikesh Arora made a credible name in the tech space, even before he joined Palo Alto Networks. The businessman has served as President and COO of SoftBank Group. Furthermore, the tech entrepreneur spent a decade at Google and held several positions there. This included Senior Vice President and CBO, President of Global Sales Operations and Business Development, and President of Europe, the Middle East, and Africa. Arora was also the CMO at T-Mobile.
According to Mint, Nikesh Arora became the highest-paid executive at Google in 2012. At the time, the Silicon Valley-based company hired him for a package of $51 million (approximately Rs 424 crore). By the time he bid adieu to Google, Arora collected $200 million (approximately Rs 1,664 crore) worth of stock awards.
What is Nikesh Arora’s net worth?
Nikesh Arora is a billionaire with a massive net worth of $1.5 billion (approximately Rs 12,486 crore), according to the Bloomberg Billionaires Index and Hindustan Times. Arora's hefty compensation package at Palo Alto Networks, upon joining the tech company in 2018, included $125 million (approximately Rs 1,040 crore) in stock and options.
Nikesh Arora hails from an Indian Air Force family and did his schooling at The Air Force School (TAFS) in Delhi. The billionaire businessman holds an M.S. in Business Administration from Northeastern University, USA, an M.S. in Finance from Boston College, and a B. Tech. in electrical engineering from the Institute of Technology (Banaras Hindu University), Varanasi.
