The compensation of CEOs at Fortune 500 companies has seen a significant increase in recent years, with half of executives now earning a median salary of at least $15.7 million. Broadcom CEO Hock Tan topped the list as the highest-paid CEO, receiving $162 million in compensation last year. However, Tan will only receive the full amount if certain conditions are met, including reaching specific share price targets and remaining in the position for five years without receiving any additional stock or cash bonuses.
Broadcom’s success can be attributed to its rising share prices, which have increased by 27% this year and 106% over the past 12 months, leading to a market capitalization of $665 billion.
Other top-paid CEOs included Nikesh Arora of Palo Alto Networks, whose compensation reached $151 million, and Steven Schwarzman of Blackstone with $120 million. Despite not making the top ten list, Nvidia CEO Jensen Huang saw his restricted stock value quadruple to $107.5 million and his overall compensation increase by 60% to $34.2 million in the last financial year, with the potential for more shares if performance criteria are met.
Among the top ten highest-paid CEOs were Tim Cook of Apple, Theodore Sarandos of Netflix, and David Zaslav of Warner Bros. Discovery. Cook’s total salary was $63.21 million, representing a 36.4% decrease from the previous year, while Sarandos and Zaslav earned $49.8 million and $49.7 million, respectively.
Overall, CEO compensation in the corporate world has been on the rise, with many top executives earning multimillion-dollar salaries. This trend reflects the increasing value placed on leadership and expertise in guiding successful companies to achieve their financial goals.
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https://www.techspot.com/news/103089-ceo-compensation-reaches-new-heights-meet-top-earners.html
