Satya Nadella is the CEO of the World's Most Valuable company and was named Fortune's Businessman of the year.
In 2013, then current CEO Steve Ballmer announced his departure and to many people's surprise, Microsoft chose Satya Nadella as his replacement. Many questioned the choice as Nadella was not a founder like Bill Gates or even a big personality like other CEOs in the spotlight. But, the new CEO went on to lead some of Microsoft's biggest acquisitions.
In 2016 Microsoft acquired Linkedin for $26.2 billion dollars and in 2018, the company acquired GitHub for $7.5 billion dollars. In time, Nadella turned Microsoft into a mobile and cloud company. With this, Nadella transitioned Microsoft into a company of the future.
Nadella's work was validated when on April 25th of this year, Microsoft hit the $1 trillion value mark, up 230 percent since his start at the helm of the company. Another high point for the tech giant, Microsoft earned $39 Billion in revenue for the fiscal year of 2019. That means Microsoft is growing its profit at a three year compound annual rate of 11 percent. The company won the $10 billion JEDI cloud computing contract with the Pentagon in October, and more recently in November, Microsoft had another win, announcing that its workplace messaging app has 20 million daily active users, surpassing rival, Slack.
And to what does Nadella credit the success of the company? His reliance on others. "I'm wired to be fairly confident in myself and to let others shine," the CEO told Fortune.
Can Satya Nadella roll his momentum into 2020? In a crowd of noisy business leaders like Elon Musk and Jeff Bezos, it looks like the former underdog, Satya Nadella could be most likely to succeed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
