SAN MATEO (CBS SF) – The highest paid executive in the country is the head of a Bay Area company, but it’s probably not the one you would expect.

Nick Woodman, founder and CEO of San Mateo-based camera maker GoPro, has been declared the highest paid executive in the Bloomberg Pay Index after receiving 4.5 million shares valued at $284.5 million. Woodman received the shares before the company went public last summer.

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According to the financial news service, Woodman unseats Cheneire Energy CEO Charif Souki, who received $281 million in 2013.

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Woodman was paid $800,000 in salary and a bonus of $1 million in 2013.

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The 39-year-old has a net worth of $2.4 billion. According to Forbes, Woodman is the 276th richest person in the U.S. and 782nd richest in the world.