There were 23 people below him earning over $1m and two who earned more than $3m.
The proportion of Fonterra staff who earned more than $100,000 grew in 2018.
Six thousand broke through that threshold in 2018, while the co-op's overall staff count only grew by 100 to 21,500.
According to financial statements, 5245 Fonterra staff earned more than $100,000 in 2017.
Air New Zealand, which employs 12,000 people, pays 4200 staff over $100,000.
Fonterra has reported a net loss of $196 million for the July year - its first annual loss since its inception in 2001.
The previous year's net profit was $745 million.
The co-op said its normalised earnings before interest and tax was $902 million, down 22 per cent.
Fonterra said its total cash payout for the year would be $6.79, comprising a Farmgate Milk Price $6.69 per kgMS and a 10c dividend.
Fonterra has reported a net loss of $196 million for the July year - its first annual loss since its inception in 2001.
The previous year's net profit was $745 million.
The co-op said its normalised earnings before interest and tax was $902 million, down 22 per cent.
Fonterra said its total cash payout for the year would be $6.79, comprising a Farmgate Milk Price $6.69 per kgMS and a 10c dividend.