GoPro's Nick Woodman was the highest-paid CEO in 2014

Andrew Burton/GettyNEW YORK, NY - JUNE 26: Nick Woodman, founder and CEO of GoPro speaks during the company's initial public offering (IPO) at the Nasdaq Stock Exchange on June 26, 2014 in New York City. GoPro's small, cheap video cameras, which can be mounted to capture unique points of view and record in high definition, have seen a surge in use for capturing everything from extreme sports to personal moments. (Photo by Andrew Burton/Getty Images)

Nick Woodman, the CEO of GoPro, was the highest-paid CEO of 2014, according to Bloomberg.

He was recently granted 4.5 million restricted stock units, which were valued at $284.5 million at the end of 2014, giving him the number one spot on the Bloomberg Pay Index.

Before Woodman, Cheniere Energy's Charif Souki was the highest paid CEO, with $281 million compensation at the end of 2013. Cheniere Energy also says it's cutting Souki's pay in 2014, according to Bloomberg.

Woodman is a self-made billionaire - he got the idea for his company, which makes wearable action cameras suitable for sports, during a surfing trip.

And he remembers the first moment he realized GoPro would be a success, too. Woodman recalled a particular surfing session after the company had launched its first camera, as he told Bloomberg shortly after the company went public. Two 12-year-old boys on the beach called out, "Hey look! Dude, he's got a GoPro!"

They then ran by Woodman, and shouted the company slogan: "GoPro! Be a hero!"

Woodman also said his company has been profitable since day one. In GoPro's early days, he saved money by being the model on the company's product packaging.

To learn more about how the Bloomberg Pay Index works, check out the full story here.

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