Malaysian-born Hock Tan was the highest paid CEO in the U.S. last year, earning $162 million. According to a report, Tan surpassed Meta’s Mark Zuckerberg, Apple’s Tim Cook, and even Tesla’s Elon Musk. As the top executive of semiconductor giant Broadcom, he has topped the pay charts since 2006, according to the Wall Street Journal.

He previously topped the list in 2017, earning US$103 million as Broadcom CEO. However, WSJ stated that Tan would only receive the full amount if certain conditions are met.

This involves Broadcom’s stock reaching a specified level by 2025, Tan continuing as CEO for another five years, and him foregoing any additional equity or cash bonuses until that time. The chipmaker’s total market capitalization is currently at US$655 billion, with its shares having risen by 106% over the past year. Tan has served as Broadcom’s CEO since 2006 and has been a US citizen since 1990.

Nikesh Arora at Palo Alto Networks followed Tan with a compensation of $151 million. Steven Schwarzman of Blackstone secured third place with earnings of $120 million.

Stay tuned.