Hock Tan
Hock Tan | |
|---|---|
| 陳福陽 | |
 | |
| Born | Tan Hock Eng 1951 or 1952 (age 73–74) |
| Nationality | Chinese |
| Citizenship | American |
| Education | |
| Occupation | Business executive |
| Years active | 1983–present |
| Title | CEO of Broadcom |
| Spouse | Lya Truong |
| Children | 3 |
Tan Hock Eng (Chinese: 陳福陽; pinyin: Chén Fúyáng; Pe̍h-ōe-jī: Tân Hok-iâng; born 1951 or 1952) is a Malaysian-born Chinese-American business executive. He is the CEO of Broadcom Inc. He was the highest-earning CEO in the US in 2017, earning US$103.2 million that year.[1]
Early life and education
[edit]Tan was born in Penang, Malaysia, in 1951 or 1952.[2] He received a scholarship to attend the Massachusetts Institute of Technology (MIT) in 1971. In 1975, he graduated with a bachelor's degree in mechanical engineering and earned a master's degree in the same subject later in the year.[3][4] Tan also attended Harvard University to earn an MBA a few years later.[2][5]
Career
[edit]After receiving his MBA from Harvard Business School, Hock Tan held finance roles at General Motors and PepsiCo.[6] Tan then returned to Malaysia to take on a director role at Hume Industries, a building materials manufacturer.[7] Five years later, Tan became managing director of Pacven Investment, a Singapore-based venture capital firm he co-founded.[7]
In 1992, Tan took a vice president role at Commodore International, a computer and electronics manufacturer founded by Jack Tramiel.[8] Two years later, he joined the Pennsylvania-based chip maker Integrated Circuit Systems.[6] In 1995, he became senior vice president.[9] In 1999, he became chief executive officer.[9] Under Tan, the company was taken private and eventually sold to an investor group led by senior management, Bain Capital, and Bear Stearns.[10][6]
Avago was created following a US$2.66 billion private equity buyout of the Semiconductor Products Group of Agilent Technologies in 2005. Tan was hired to lead this new company as chief executive.[11]
In 2015, Tan merged the company with Broadcom Corporation following an acquisition, leading to the creation of Broadcom Inc which he currently runs.[12]
In 2017, Hock Tan led a $117 billion bid for Broadcom's competitor, the San Diego-based Qualcomm.[13][14] The takeover would have constituted the largest technology deal of all time. In March 2018, the U.S. government blocked the transaction.[13][14]
In April 2018 Broadcom announced that it had completed its move from Singapore back to the United States, which Tan claimed would yield $20 billion yearly in revenue for the US Treasury.[15][16] Tan then pursued a series of deals that expanded Broadcom's software business,[14] including CA Technologies in 2018 and Symantec’s corporate-focused security business in 2019.[17][18]
In April 2020 Tan drew criticism when it was announced that he was forcing employees of Broadcom to return to work for 1 week a month during the COVID-19 outbreak.[19] In September 2020, Tan stated that all Broadcom employees were working in the office in Asia excluding India, and 50% in North America.[20]
In 2023, Tan's total compensation from Broadcom was $161.8 million, up 167% from the previous year and representing a CEO-to-median worker pay ratio of 510-to-1 for the company, as well as making Tan the third highest paid CEO in the US that year.[21]
In 2024, he received the Dr. Morris Chang Exemplary Leadership Award from the Global Semiconductor Alliance.[22] Since February 2024, he has been a member of the board of directors of Meta.[23]
Personal life
[edit]Tan became a U.S. citizen in 1990.[24] He married his first wife, K. Lisa Yang.[25] Their three children spent their early years in Singapore.[26] The family moved to Philadelphia after their son Douglas was diagnosed with autism by a pediatric neurologist at the Children's Hospital of Philadelphia who suggested the boy would receive a better education in the U.S.[25] Douglas attended the Timothy School in Philadelphia, and now lives in a Devereux Advanced Behavioral Health group home.[25] Their daughter Eva has been diagnosed with a milder form of autism.[26] Yang helped Eva with her "poor auditory processing skills" when she started taking classes at Harcum College.[25] Eva was later hired by SAP under their Autism at Work program.[25] Their other son, who does not have autism, works as an investment banker in California.[25]
Tan and K. Lisa Yang divorced and Tan is now married to Lya Truong.[27]
Philanthropy
[edit]Hock Tan has donated money to his alma mater, the Massachusetts Institute of Technology (MIT). In 2015, Tan honored former MIT professor Nam P. Suh by donating $4 million to the school to endow a mechanical engineering professorship.[28]
Hock Tan and his first wife, K. Lisa Yang, have also donated money to autism and disability charities. In 2015, Tan and Yang donated $10 million to Cornell University to fund the K. Lisa Yang and Hock E. Tan Employment and Disability Institute.[25] In 2017, they donated $20 million to MIT to fund research to find effective treatments for autism and find its causes.[25] Their donation created the Hock E. Tan and K. Lisa Yang Center for Autism Research.[25] In 2019, Tan and Yang donated $20 million to Harvard Medical School to create the Tan-Yang Center for Autism Research, a sister of the MIT center.[29] Tan and Yang donated $28 million in 2020 to MIT to create the Yang-Tan Center for Molecular Therapeutics in Neuroscience.[29]
References
[edit]- ^ "Who is the top-earning CEO in US? Malaysian Tan Hock Eng who picked up US$103.2 million in 2017". South China Morning Post. New Straits Times. May 17, 2018.
- ^ a b Steele, Jeanette (2018-02-28). "Broadcom's CEO has fortune and business success, but autism touched his family". San Diego Union-Tribune. Retrieved 2020-12-10.
- ^ "Behind Broadcom's move from Singapore to the US, a CEO who grew up as a 'skinny kid' in Penang". Today. November 3, 2017. Retrieved December 10, 2020.
- ^ Shameen, Assif (November 30, 2017). "Cover Story: From skinny Penang boy to global tech leader". The Edge Markets. Retrieved October 2, 2019.
- ^ Fong, Min Yuan (November 3, 2017). "Penang-born Tan behind US$100b company moving to US". The Star. Archived from the original on November 3, 2017.
- ^ a b c "Broadcom's Tan Got His Way on Deals; Then He Targeted Qualcomm". Bloomberg.com. Archived from the original on 2018-02-01. Retrieved 2025-06-15.
- ^ a b Law, Marcus (2024-02-15). "Who is Hock Tan, Broadcom CEO and new Meta Board Member?". technologymagazine.com. Retrieved 2025-06-15.
- ^ BIRRUNTHA, S. (2024-02-16). "Malaysian-born appointed as new board member at Facebook parent company | New Straits Times". NST Online. Retrieved 2025-06-15.
- ^ a b "Integrated Circuit Systems--Form 10-K". www.sec.gov. Retrieved 2025-06-15.
- ^ "COMPANY NEWS; MANAGEMENT TO ACQUIRE INTEGRATED CIRCUIT SYSTEMS". The New York Times. 1999-01-21. ISSN 0362-4331. Retrieved 2025-06-15.
- ^ Hock E. Tan: Executive Profile & Biography, Bloomberg
- ^ "Timeline: Broadcom's ambitious deal history under CEO Hock Tan". Reuters. 2018-07-12. Retrieved 2025-06-15.
- ^ a b "Timeline: Broadcom-Qualcomm saga comes to an abrupt end". Reuters. 2018-03-14. Retrieved 2025-06-15.
- ^ a b c Hu, Krystal; Lee, Jane; Hu, Krystal; Lee, Jane (2022-05-27). "How Broadcom CEO Tan shaped a tech giant through acquisitions". Reuters. Retrieved 2025-06-15.
- ^ "Broadcom completes move to U.S. from Singapore". Reuters. 2018-04-04. Retrieved 2025-06-15.
- ^ "Meet America's Highest-Paid CEO, a 66-Year-Old Immigrant From Malaysia Who Calls Himself a 'Frugal Guy'". Money. Retrieved 2025-06-15.
- ^ Aiello, Chloe (2018-07-11). "Broadcom reaches deal to acquire CA Technologies for $18.9 billion in cash". CNBC. Retrieved 2025-06-15.
- ^ Fitch, Asa (2019-08-08). "Broadcom Makes $10.7 Billion Deal to Buy Symantec's Corporate-Focused Security Business". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-06-15.
- ^ "Broadcom CEO forcing non-essential employees back to work on April 27". Daily Kos. April 19, 2020.
- ^ Tan, Hock; Seymore, Ross (September 15, 2020). "Broadcom Inc. (AVGO) CEO Hock Tan Presents At Deutsche Bank 2020 Virtual Technology Conference Transcript". Seeking Alpha. Retrieved December 10, 2020.
- ^ Paradis, Tim (2024-06-18). "Here are the highest-paid CEOs in the US, some of whom have 9-figure compensation packages". Business Insider. Archived from the original on 2024-08-28. Retrieved 2024-08-31.
- ^ Davis, Shannon (2024-11-19). "Global Semiconductor Alliance Announces 2024 Award Nominees". Semiconductor Digest. Retrieved 2025-06-15.
- ^ Vanian, Jonathan (2024-02-14). "Meta says Broadcom CEO Hock Tan is joining board of directors". CNBC. Retrieved 2024-02-14.
- ^ Hammond, Ed; King, Ian (March 15, 2018). "Mr. Tan Goes to Washington: The Undoing of a Tech Mega-Deal". Bloomberg News.
- ^ a b c d e f g h i Burling, Stacey (February 9, 2017). "Main Line couple give millions to MIT for autism research". The Philadelphia Inquirer. Archived from the original on 15 November 2019. Retrieved December 10, 2020.
- ^ a b Steele, Jeanette (2018-02-28). "Broadcom's CEO has fortune and business success, but autism touched his family". San Diego Union-Tribune. Retrieved 2020-12-10.
- ^ "President and Chief Executive Officer". www.broadcom.com. Retrieved 2025-02-10.
- ^ Mallinson, Alissa (July 6, 2015). "Alumnus Hock Tan pledges $4 million gift for endowed chair in MechE". MIT News. Retrieved December 10, 2020.
- ^ a b Jennings, Katie (September 15, 2020). "Broadcom CEO Donates $28 Million To MIT, Fueling Research For Brain Disorders". Forbes. Retrieved December 12, 2020.