…names Satya Nadella named as Chairman
Microsoft has officially crossed over into an elite club of corporations with market values above $2 trillion.
The company reached this $2 trillion milestone a little over two years after it passed its $1 trillion market cap.
It could be speculated that COVID-19 was a boost for the tech giant as this meant that more people were spending more time on their devices, hence boosting the demand for devices and utilisation of its cloud computing platform.
“Over a year into the pandemic, digital adoption curves aren’t slowing down”, CEO Satya Nadella said in a statement at the time. “We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform”.
Microsoft has now joined the ranks of the big tech firms like Amazon and Google, just following closely behind.
The tech giant’s CEO was recently named as chairman of the board, consequently making him even more powerful at Microsoft.
Nadella has served as chief executive since 2014 and has seen the company through its transformation into a leader in cloud computing, which resulted in greater earnings and growing the company’s market cap close to $2 trillion. He was unanimously elected to replace John Thompson in the position.
The news came as the company was dealing with the allegations of its co-founder Bill Gates having an affair with an employee in 2000.
In response to the allegations against Bill Gates, Nadella says “the Microsoft of 2021 is very different from the Microsoft of 2000. “To me and to everyone at Microsoft, our focus on our culture, our diversity, our inclusion, in particular, the everyday experience of our people is super important,” he added.