America’s highest-paid CEO is not Apple’s Tim Cook, Tesla’s Elon Musk or Meta Platforms’ Mark Zuckerberg – it’s Broadcom’s Hock Tan, in line with an evaluation published this week by The Wall Street Journal (WSJ) .
Malaysian-born Tan received $162 million in compensation last yr, but there’s a catch: he’ll only receive the complete amount if his company’s shares reach a certain level by 2025, WSJ reports.
Broadcom said Tan’s pay was also contingent on Tan remaining in his position for an additional five years and that he wouldn’t receive any more equity or money bonuses before that period.
Shares of the semiconductor company are up 27 percent this yr and 106 percent over the past 12 months, bringing its total market capitalization to $655 billion.
Tan has been CEO of Broadcom since 2006 and previously topped the WSJ list in 2017 when he received a $103 million award.
The evaluation shows that two other CEOs earned nine-figure salaries in 2023: Palo Alto Networks’ Nikesh Arora and Blackstone’s Steve Schwarzman.
Arora earned $151 million, mostly in the shape of stock grants over the following three years, while Schwarzman – known for his lavish lifestyle and past support of Donald Trump – earned $120 million.
Shares of Palo Alto Networks and Blackstone are up 110 percent and 54 percent, respectively, previously yr.
Cook of Apple, Ted Sarandos of Netflix and David Zaslav of Warner Bros. Discovery also made the list of the ten highest-paid CEOs within the U.S., although no women made the highest 25.
