Overtaking well-known names like Tim Cook of Apple, Elon Musk of Tesla, and Mark Zuckerberg of Meta Platforms, Malaysian-born billionaire Tan Hock Eng was the highest-paid CEO in the United States last year.
This week, a Wall Street Journal (WSJ) investigation cited in a South China Morning Post story states that Tan received US$162 million in remuneration the previous year.
Tan has topped the WSJ list before. He has been president, chief executive officer, and director of US-based semiconductor manufacturer Broadcom Inc. since 2006.
2017 saw Tan top the WSJ list, having earned US$103 million as CEO of Broadcom that year.
According to WSJ, Tan will only get paid in full for last year if a few requirements are met. Such as his company’s stock reaching a specific level by the following year.
Tan must also serve as CEO for another five years. So he will no longer be eligible for cash bonuses or stock awards.
The semiconductor company has a total market value of US$655 billion. It was boosted by 106 per cent in the last 12 months.
Tan, a US citizen since 1990, was reportedly elected to Meta Platforms Inc.’s board of directors early this year.
