Malaysia-born Hock Tan, the highest paid CEO in US last year
Published on: Wednesday, May 22, 2024
By: FMT
Hock Tan has been the Broadcom CEO since 2006 and a US citizen since 1990. (Broadcom pic)
PETALING JAYA: A Malaysian-born business figure was the highest paid CEO in the US last year, beating the likes of Meta’s Mark Zuckerberg, Apple’s Tim Cook and even Tesla’s Elon Musk, according to a report.
South China Morning Post quoted a Wall Street Journal (WSJ) analysis as saying that Malaysian-born Hock Tan, the CEO of chipmaker Broadcom Inc, was awarded a whopping US$162 million in compensation in 2023.
ADVERTISEMENT
This would not be his first time topping the list, having done so in 2017 when he was awarded US$103 million, also as Broadcom CEO.
However, WSJ said Tan would only receive the full amount if certain conditions are fulfilled.
This includes Broadcom’s stock hitting a certain level by 2025 and Tan staying on as CEO for five more years. He will also not receive any more equity or cash bonuses until the five years are up.
The chipmaker’s total market capitalisation stands at US$655 billion, with the company’s shares up by 106% over the past year.
ADVERTISEMENT
Tan has been the Broadcom CEO since 2006 and a US citizen since 1990.
Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
ADVERTISEMENT
* Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
.jpg)
