Penang-born Tan Hock Eng has become the highest-paid Chief Executive Officer (CEO) in the United States, surpassing prominent figures like Apple’s Tim Cook, Tesla’s Elon Musk, and Meta Platforms’ Mark Zuckerberg.
The South China Morning Post, citing a Wall Street Journal (WSJ) analysis, reported that Tan earned US$162 million (approx RM760.75 million) in compensation last year.
Tan has led Broadcom Inc., a US-based semiconductor manufacturing company, as president, CEO, and director since 2006.
Not the first time
In 2017, he also topped the WSJ’s list with a US$103 million (approx. RM483.69 million) compensation package.
WSJ reports indicate that Tan’s full compensation for last year is conditional, dependent on his company’s stock reaching a specific target by next year.
Additionally, he must stay in his CEO role for another five years, during which he will not receive further equity or cash bonuses.
Broadcom’s shares have increased by 106 percent over the past 12 months, elevating its market capitalization to US$655 billion.
Who is Tan Hock Eng?
Tan Hock Eng, a US citizen since 1990, was appointed to the board of directors at Meta Platforms Inc. earlier this year.
Born in Penang, Malaysia, Tan pursued higher education at the Massachusetts Institute of Technology (MIT), where he obtained his Master’s degree.
Before his tenure at Broadcom, he held senior management positions in several global technology companies, including Integrated Circuit Systems, Inc.
Tan’s extensive experience in the technology sector and his strategic leadership have significantly contributed to Broadcom’s success and growth.
