Malaysian-born businessman Tan Hock Eng has been named the highest-paid CEO in the world for 2023, earning a compensation of US$162 million. This exceeds the earnings of notable figures like Mark Zuckerberg, Elon Musk, and Tim Cook. As the CEO of Broadcom Inc., Tan has consistently topped the salary charts since 2006. Despite his success, Tan’s compensation is tied to specific conditions, including the performance of the company’s shares in 2025 and his tenure in the role for another five years.
In addition to Tan, two other CEOs – Nikesh Arora of Palo Alto Networks and Steve Schwarzman of Blackstone – also earned nine-figure salaries in 2023. Arora received US$151 million in share donations, while Schwarzman earned $120 million. The overall performance of their respective companies has contributed to their lucrative compensation packages.
It is worth noting that the top 10 highest-paid CEOs in the United States also include figures like Apple’s Tim Cook, Netflix’s Ted Sarandos, and Warner Bros. Discovery’s David Zaslav. However, there is a notable absence of women in the top 25 on the list of highest-paid CEOs.
Despite his impressive earnings, Tan’s success has not come without challenges. His compensation is tied to the future performance of Broadcom, emphasizing the importance of sustained growth and success for both the company and its CEO. Tan’s journey from a humble background in Penang to becoming a global tech leader serves as an example of determination and hard work paying off in the competitive world of technology.
As the landscape of executive compensation continues to evolve, with top CEOs commanding substantial salaries and benefits, the spotlight remains on companies’ performance and leadership accountability. It will be interesting to see how Tan and other high-earning CEOs navigate the challenges and opportunities that lie ahead in the ever-changing business environment.
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https://mothership.sg/2024/05/tan-hock-eng/
