Malaysian-born businessman tops list as highest-paid CEO in US last year

KUALA LUMPUR: Malaysian-born businessman Tan Hock Eng emerged as the highest-paid Chief Executive Officer (CEO) in the United States last year, surpassing notable figures such as Tim Cook of Apple, Elon Musk of Tesla, and Mark Zuckerberg of Meta Platforms.

According to a report by the South China Morning Post, which quoted a Wall Street Journal (WSJ) analysis this week, Tan was awarded US$162 million in compensation last year.

This is not the first time Tan, who has served as the president, chief executive officer, and director of US-based semiconductor manufacturing company Broadcom Inc since 2006, has topped the WSJ's list.

In 2017, Tan topped the WSJ's list after receiving US$103 million as Broadcom CEO during the year.

For last year, WSJ reported that Tan will only receive the full amount if certain conditions are fulfilled, including his company's stock hitting a certain level by next year.

In addition, Tan must remain as CEO for another five years, during which he will not receive any more equity or cash bonuses.

The semiconductor company's shares have risen by 106 per cent over the past 12 months, contributing to its total market capitalisation of US$655 billion.

It was reported that Tan, who has been a US citizen since 1990, was elected to the board of directors of Meta Platforms Inc earlier this year.

Most Popular
Related Article
Says Stories