Broadcom’s CEO, Tan, received a compensation package of $162 million last year, with the condition that he will only get the full amount if the company’s stock reaches a certain level by 2025. Additionally, Tan’s salary is contingent on him staying in his position for another five years, during which he will not receive any further equity or cash bonuses. Broadcom’s shares have seen significant growth, up 27% this year and 106% over the past 12 months, leading to a total market capitalization of $655 billion.
Tan, who has been CEO of Broadcom since 2006, was previously the highest-paid CEO in 2017, earning $103 million. Other CEOs who earned nine-figure salaries in 2023 include Nikesh Arora of Palo Alto Networks and Steve Schwarzman of Blackstone. Arora received $151 million, primarily in the form of stock donations over the next three years, while Schwarzman, known for his opulent lifestyle and past support for Donald Trump, earned $120 million. Palo Alto Networks and Blackstone saw their shares rise by 110% and 54% last year, respectively.
Other top 10 highest-paid CEOs in the United States included Tim Cook of Apple, Ted Sarandos of Netflix, and David Zaslav of Warner Bros. Discovery. It is notable that no women made the top 25 list of highest-paid CEOs.
In summary, Broadcom’s CEO Tan, along with other top CEOs, received significant compensation packages in 2023, primarily driven by stock incentives and company performance. The trend of high CEO compensation continues to be a topic of discussion and scrutiny in corporate governance and executive compensation practices.
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https://www.businessinsider.com/who-is-highest-paid-ceo-broadcom-hock-tan-steve-schwarzman-2024-5