Microsoft CEO sells $ 285 million in stock

With Microsoft stock nearing its all-time high, CEO Satya Nadella cashed in half of his stock.

The sale, which took place over two days last week, won Nadella around $ 285 million.

The CEO may have been prompted by a Washington state law that goes into effect next year and will tax capital gains held for more than a year above the federal rate.

Under Nadella, the company has grown steadily to become one of the two largest publicly traded companies in the world, with a market capitalization of $ 2.49 trillion from Tuesday.

He has also signed technology partnerships with the NFL, Real Madrid, the PGA Tour, NASCAR, the Big3 basketball league and the Special Olympics.

Microsoft seeks to grow further through metaverse software, unveiled earlier this month, and Game.

• “You can absolutely expect us to do things in the game,” Nadella told Bloomberg, referring to the company’s metaverse ambitions.
• Xbox sales increased 166% year-over-year in the company’s first fiscal quarter of 2022, as Microsoft took into $ 45.3 billion In income.
• Microsoft is rolling out a feature on its Edge browser to improve visual clarity in games.

The company said Nadella, who has served as CEO since 2014, “is committed to the continued success of the business, and her holdings far exceed the holding requirements set by Microsoft’s board of directors.”

Nadella’s total compensation for fiscal 2021 was nearly $ 50 million, and he earned over $ 40 million in the previous two years.

As Major League Baseball faces a looming lockdown, free agents are signing at a breakneck pace in what will likely be a record-breaking offseason.

The collective agreement between the league and its players’ association expires at midnight on Wednesday, and it is largely presumed that the league will lock its players out at that point. This step would freeze transactions, meaning that no player of that loaded free agent class could sign a deal until a new CBA is reached.

Players rushed to sign deals before this deadline, agreeing to over $ 1.6 billion in guaranteed contracts.

• The Texas Rangers have agreed to $ 561.2 million in new contracts, including infielders Corey Seager ($ 325 million) and Marcus Semien ($ 175 million).
• The New York Mets pledged $ 254 million in new contracts, including a three-year contract with pitcher ace Max Scherzer who broke the record for average annual value at $ 43.3 million per season.
• The Tampa Bay Rays broke the record for a contract awarded to a player with less than a year of service with their 11-year-old, $ 182 million facing shortstop Wander Franco.

MLBPA is looking to restructure the rules to allow players to earn higher salaries earlier in their careers. Players do not have the ability to negotiate salaries during their first three years and operate under the arbitration system for the next three.

MLB is also interested in rule changes, including extend the playoffs from 10 to 14 teams.

New York-based private equity firm KKR is targeting Italy’s largest telecommunications company with a takeover bid for Telecom Italia.

Earlier this month, Telecom Italia announcement he may seek to renegotiate his $ 1.1 billion deal with DAZN distribute Serie A shows after Telecom published disappointing results.

Formerly a state monopoly, Telecom Italia has seen its value decrease regularly over the past five years. After an increase of around 38% since November 19 following the takeover bid, Telecom Italia has reached $ 11 billion in market capitalization.

• Telecom Italia and DAZN teamed up to secure the rights to Serie A in a three-year deal earlier this year.
• The pact was approved in July after Italian regulators received assurances that league matches would still be available to customers who do not subscribe to Telecom Italia’s internet service.
• Luigi Gubitosi, CEO of Telecom Italia resigned Friday following a disagreement with the leading investor Vivendi.

The deal will need to be approved by Italian regulators to move forward, who may take steps to preserve the company’s Italian identity. One option could be for the public-private bank Cassa Depositi e Prestiti SpA to increase its stake by 10% in Telecom Italia.

In September, KKR announced that it was selling all of its $ 852.9 million stake in retailer Academy Sports.

As coverage continues to increase, more sponsors than ever are realizing the potential to invest in women’s sport – and the LPGA Tour is reaping the rewards.

Prize money for next year’s tour is getting closer $ 90 million, with 15 players winning $ 1 million or more in the 72nd edition of last season. Ten years ago, only eight had achieved the feat.

The biggest first place check was $ 1.5 million for the CME Group Tour Championship in November, courtesy of CME CEO and President Terry Duffy.

• Next year that will increase another $ 500,000 to $ 2 million, a total of $ 7 million in prize money – $ 2 million more than this year.
• The first major of 2022, the Chevron Championship, will pay $ 1.9 million more than the 2021 event, with the purse reaching $ 5 million.
• Only five years ago 15 LPGA Tour events had a purse of $ 2 million or more – there are now 19.
• That same year, the five majors had a total purse of $ 18.7 million. Now he reaches $ 26.3 million.

Commissioner Mollie Marcoux Samaan referred to an awareness of women’s sport as an undervalued asset. Next year, the LPGA Tour will have more than 500 hours emissions.

Going forward, a presenting sponsor is still needed for the US Women’s Open, which may have the biggest purse in women’s golf.