Malaysian-born businessman declared world’s highest paid CEO

PETALING JAYA: The highest paid chief executive officer in the United States is neither Apple’s Tim Cook nor Tesla’s Elon Musk, but Malaysian-born businessman Tan Hock Eng.

Tan also surpassed Meta Platforms’ Mark Zuckerberg by earning USD162 million in compensation last year, reports the South China Morning Post (SCMP), quoting an analysis by the Wall Street Journal (WSJ) this week.

“Tan, who is a US citizen, is the CEO of semiconductor company Broadcom Inc. and has been topping the pay charts since 2006, receiving US$103mil in 2017,” said WSJ.

However, the pay package comes with several conditions, including the company’s stock hitting a certain level by next year.

Tan was also a board member of Meta Platforms.

Broadcom’s company shares had risen by 106% over the past 12 months, leading to a market capitalisation of US$655bil.