America's highest-paid CEO is a Penang-born Malaysian
(File pix) Penang-born Tan Hock Eng. Wall Street Journal/Says.com Photo
KUALA LUMPUR: The highest-paid CEOs in America include Apple's Tim Cook, Tesla creator Elon Musk, and Facebook's Mark Zuckerberg. Amongst these big names, who would have thought that a Malaysian would make the highest spot on the list?
But make it he did. Tan Hock Eng, a Penang-born 66-year-old, is currently the highest-paid Chief Executive Officer in America, according to The Wall Street Journal.
The analysis reported that the average CEO among the biggest companies in the US made US$12.1 million (RM47.4 million) in 2017.
However, Tan made a whopping US$103.2 million (RM406.9 million) last year – that is about 2,039 times more than the average US worker!
The head of Broadcom, an international supplier of semiconductor technologies, Tan saw his company's returns to shareholders increase in 2017 and his salary jump 318 per cent, from US$24.7 million (RM98 million) in 2016.
But make it he did. Tan Hock Eng, a Penang-born 66-year-old, is currently the highest-paid Chief Executive Officer in America, according to The Wall Street Journal.
The analysis reported that the average CEO among the biggest companies in the US made US$12.1 million (RM47.4 million) in 2017.
However, Tan made a whopping US$103.2 million (RM406.9 million) last year – that is about 2,039 times more than the average US worker!
The head of Broadcom, an international supplier of semiconductor technologies, Tan saw his company's returns to shareholders increase in 2017 and his salary jump 318 per cent, from US$24.7 million (RM98 million) in 2016.
(File pix) Broadcom, an international supplier of semiconductor technologies. Glassdoor/Says.com Photo
What is most interesting is that Tan's base cash salary in 2017 was 'only' US$1.1 million (RM4.35 million)
The bulk of his massive pay comes from shares awarded to him, valued at US$98.3 million (RM388.6 million), and a performance bonus of US$3.7 million (RM14.6 million), according to Time.
However, he will not receive all those shares yet. Instead, what Tan ultimately gets will depend on how Broadcom continues to perform.
The Penangite migrated to America through a scholarship at the Massachusetts Institute of Technology (MIT) before making his name in the tech sector.
"My parents could not have afforded to send me to college, much less MIT, but this great American educational institution took a chance on me, sight unseen, by giving me a scholarship to pursue the American dream," he said, as reported by The Edge.
Last month in April, Broadcom announced that they had successfully relocated their legal address from Singapore to the United States.
"US President Donald Trump had even previously hosted an event with Tan to hail the growth of American jobs as a result of the chip manufacturer's relocation, which Tan said would bring in US$20 billion in revenue for the country," according to Time.
Tan owns several homes across America, although he's labelled himself as "kind of a frugal guy."
Two of his three children have autism, and as a result, his family has donated US$30 million (RM108.6 million) to autism research.
All in all, Tan Hock Eng has no doubt come a long way from being a "skinny 18-year-old kid" in Malaysia to now the wealthiest global tech chief in the United States. – SAYS.COM
The bulk of his massive pay comes from shares awarded to him, valued at US$98.3 million (RM388.6 million), and a performance bonus of US$3.7 million (RM14.6 million), according to Time.
However, he will not receive all those shares yet. Instead, what Tan ultimately gets will depend on how Broadcom continues to perform.
The Penangite migrated to America through a scholarship at the Massachusetts Institute of Technology (MIT) before making his name in the tech sector.
"My parents could not have afforded to send me to college, much less MIT, but this great American educational institution took a chance on me, sight unseen, by giving me a scholarship to pursue the American dream," he said, as reported by The Edge.
Last month in April, Broadcom announced that they had successfully relocated their legal address from Singapore to the United States.
"US President Donald Trump had even previously hosted an event with Tan to hail the growth of American jobs as a result of the chip manufacturer's relocation, which Tan said would bring in US$20 billion in revenue for the country," according to Time.
Tan owns several homes across America, although he's labelled himself as "kind of a frugal guy."
Two of his three children have autism, and as a result, his family has donated US$30 million (RM108.6 million) to autism research.
All in all, Tan Hock Eng has no doubt come a long way from being a "skinny 18-year-old kid" in Malaysia to now the wealthiest global tech chief in the United States. – SAYS.COM
He's taken US Citizenship and sworn the Oath Of Allegiance to the United States of America.
ReplyDeleteMost US haters would dub him a white arse-licker.
US haters?
DeleteOld moneyed mfer, ain't u confused demoNcracy with US?
For the choice of these people, DON'T they come crawling back to renounce their choice AGAIN when the direction of the fortune changes.
On August 24, 2020 KT was quick to blame PH gomen for not hiring a CEO for TalentCorp since coming to power in May 2018. So now it is October 2020, PN has been in power for 7 months, will KT now blame PN gomen because the CEO position is still unfilled?
ReplyDeletehttp://ktemoc.blogspot.com/2020/08/ph-govt-left-talent-corporation-bhd.html
The truth is the CEO post is vacant because NOBODY wants the impossible job of attracting top Malaysians to come home. TalentCorp has sunk to the role of bringing back fresh or recent grads who can't find better opportunities overseas.
a chinese that tok american dream? shit.
ReplyDeleteNoBrainRats....proven tarak otak by their comments...unable to even distinguish between American citizens ( of whatever ethnicity - blacks, white anglo-saxons, yellow asians, brown latinos etc etc ) and the US governments/administrations with foreign policies and behavior of its leader/s which earn the world's distrust and censure.
ReplyDeletePitiful. Pathetic. Podah !
CCP Zombie, proven by Zero Brain comments, unable to distinguish between US Citizens by birth, who did not choose that country , and someone like Tan who willingly (very willingly I heard) chose to apply for USA citizenship and voluntarily swore the Oath of Allegiance to the United States.
ReplyDeleteAny person originally of foreign citizenship who does not agree with US Government and administration policies and the behaviour of its leaders, distrusting and censuring that government is hardly going to choose to swear allegiance to the United States of America.
Wakakakakakaka…
DeleteOld moneyed mfer, do u really know that conditions of pledging of allegiance for US?
How about economic profiteers?
Know that term?
& what can the us government do to these class of people that sway with the economic wind?
Wakakakakakaka… fart filled well can only produce hp6 insights of the f*cked kind.