View source for Hock Tan

{{Short description|CEO Of Broadcom, Inc.}}
{{BLP sources|date=September 2018}}
{{Update|date=May 2024}}
{{family name hatnote|[[Chen (surname)|Tan]]|lang=Chinese}}
{{Infobox person
| name               = Hock Tan
| native_name        = 陳福陽
| birth_name         = Tan Hock Eng
| birth_date         = {{Birth based on age as of date|66|2018|02|28}}
| birth_place        = [[Penang]], [[British Malaya]]
| citizenship        =
| nationality        = American
| death_date         =
| death_place        =
| occupation         = Business executive
| title              = CEO of [[Broadcom]]
| years_active       = 1983–present
| education          = {{Plainlist |
* [[Massachusetts Institute of Technology]] ([[Bachelor of Science|BS]], [[Master of Science|MS]])
* [[Harvard University]] ([[Master of Business Administration|MBA]])
}}
| spouse             =
| children           = 3
}}
'''Tan Hock Eng''' ({{zh|t=陳福陽|p=Chén Fúyáng|poj=Tân Hok-iâng}}; born {{Birth based on age as of date |66 |2018 |02 |28 |noage=1}}) is a [[Malaysian people|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.<ref>{{Cite web |url=https://www.scmp.com/magazines/style/news-trends/article/2146522/who-top-earning-ceo-us-malaysian-tan-hock-eng-who-picked |title=Who is the top-earning CEO in US? Malaysian Tan Hock Eng who picked up US$103.2 million in 2017 |website=[[South China Morning Post]] |date=May 17, 2018 |agency=[[New Straits Times]]}}</ref>
==Early life and education==
Tan was born in [[Penang]], Malaysia, in {{Birth based on age as of date |66 |2018 |02 |28 |noage=1}}.<ref name=Steele20180228 /> 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.<ref name=Today-20171103>{{Cite web |title=Behind Broadcom's move from Singapore to the US, a CEO who grew up as a 'skinny kid' in Penang |url=https://www.todayonline.com/singapore/behind-broadcoms-move-singapore-us-ceo-who-grew-skinny-kid-penang |website=[[Today (Singapore newspaper)|Today]] |date=November 3, 2017 |access-date=December 10, 2020}}</ref><ref name=Shameen20171130>{{Cite web|url=http://www.theedgemarkets.com/article/cover-story-skinny-penang-boy-global-tech-leader|title=Cover Story: From skinny Penang boy to global tech leader |date=November 30, 2017 |website=[[The Edge (Malaysia)|The Edge Markets]] |access-date=October 2, 2019 |last=Shameen |first=Assif}}</ref> Tan also attended [[Harvard University]] to earn an [[MBA]] a few years later.<ref name=Steele20180228 /><ref name=Fong20171103>{{Cite web |url=https://www.thestar.com.my/business/business-news/2017/11/03/malaysian-behind-us$100b-company-relocating-to-us/ |title=Penang-born Tan behind US$100b company moving to US |website=[[The Star (Malaysia)|The Star]] |date=November 3, 2017 |last=Fong |first=Min Yuan |archive-date=November 3, 2017 |archive-url=https://web.archive.org/web/20171103080737/https://www.thestar.com.my/business/business-news/2017/11/03/malaysian-behind-us$100b-company-relocating-to-us/}}</ref>
==Career==
He was managing director of Hume Industries in Malaysia from 1983 to 1988 before helming Pacven Investment from 1988 to 1992. He then held financial positions at [[General Motors|General Motors Co]] and [[PepsiCo]] Inc before becoming the Vice President of Finance of [[Commodore International|Commodore International Ltd]].
Tan went on to become the CEO of Integrated Circuit Systems Inc. When this was sold to [[Integrated Device Technology|Integrated Device Technology Inc]], he became the latter company's chairman.
[[Broadcom Inc.|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.<ref>[https://www.bloomberg.com/research/stocks/private/person.asp?personId=142930&privcapId=25016048 Hock E. Tan: Executive Profile & Biography], Bloomberg</ref>
In 2015, Tan merged the company with [[Broadcom Corporation]] following an acquisition, leading to the creation of [[Broadcom Inc.|Broadcom Inc]] which he currently runs.
In November 2017 Broadcom announced that it had completed its move from [[Singapore]] back to the United States in a move which Tan claimed at the time would yield $20 billion yearly in revenue for the US Treasury.<ref>{{Cite web|url=http://money.com/money/5273603/highest-paid-ceo-america-hock-tan/|title=Meet America's Highest-Paid CEO, a 66-Year-Old Immigrant From Malaysia Who Calls Himself a 'Frugal Guy'|website=Money|language=en|access-date=October 2, 2019 |date=May 11, 2018 |last=Schrodt |first=Paul}}</ref>
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.<ref>{{Cite web|url=https://m.dailykos.com/stories/2020/4/19/1938762/-Broadcom-CEO-forcing-non-essential-employees-back-to-work-on-April-27|title=Broadcom CEO forcing non-essential employees back to work on April 27 |website=[[Daily Kos]] |date=April 19, 2020}}</ref> In September 2020, Tan stated that all Broadcom employees were working in the office in Asia excluding India, and 50% in North America.<ref>{{Cite web | title=Broadcom Inc. (AVGO) CEO Hock Tan Presents At Deutsche Bank 2020 Virtual Technology Conference Transcript |url=https://seekingalpha.com/article/4374478-broadcom-inc-avgo-ceo-hock-tan-presents-deutsche-bank-2020-virtual-technology-conference |website=[[Seeking Alpha]] |date=September 15, 2020 |access-date=December 10, 2020 |last1=Tan |first1=Hock |last2=Seymore |first2=Ross}}</ref>
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 [[Wage ratio|pay ratio]] of 510-to-1 for the company, as well as making Tan the third highest paid CEO in the US that year.<ref>{{Cite web |last=Paradis |first=Tim |date=2024-06-18 |title=Here are the highest-paid CEOs in the US, some of whom have 9-figure compensation packages |url=https://www.businessinsider.com/highest-paid-us-ceos-compensation-packages-stock-awards-2024-5 |url-status=live |archive-url=https://web.archive.org/web/20240828183037/https://www.businessinsider.com/highest-paid-us-ceos-compensation-packages-stock-awards-2024-5 |archive-date=2024-08-28 |access-date=2024-08-31 |website=[[Business Insider]] |language=en-US}}</ref>
Since February 2024, he is a member of the board of directors of [[Meta Platforms|Meta]].<ref>{{Cite web |last=Vanian |first=Jonathan |date=2024-02-14 |title=Meta says Broadcom CEO Hock Tan is joining board of directors |url=https://www.cnbc.com/2024/02/14/meta-says-broadcom-ceo-hock-tan-is-joining-board-of-directors-.html |access-date=2024-02-14 |website=CNBC |language=en}}</ref>
==Personal life==
Tan became a U.S. citizen in 1990.<ref>{{Cite news |last1=Hammond |first1=Ed |last2=King |first2=Ian |date=March 15, 2018 |title=Mr. Tan Goes to Washington: The Undoing of a Tech Mega-Deal |url=https://www.bloomberg.com/news/articles/2018-03-15/mr-tan-goes-to-washington-the-undoing-of-a-117-billion-deal |publisher=Bloomberg News}}</ref> He married K. Lisa Yang.<ref name=Burling20170209 /> Born in [[Singapore]], Yang graduated from [[Cornell University]].<ref name=Burling20170209>{{Cite web |title=Main Line couple give millions to MIT for autism research |url=https://www.inquirer.com/philly/health/Main-Line-couple-gives-millions-to-MIT-for-autism-research.html |website=[[The Philadelphia Inquirer]] |date=February 9, 2017 |access-date=December 10, 2020 |last=Burling |first=Stacey |archiveurl=https://web.archive.org/web/20191115004223/https://www.inquirer.com/philly/health/Main-Line-couple-gives-millions-to-MIT-for-autism-research.html |archivedate=15 November 2019}}</ref> After the family moved to the U.S., Yang worked as an investment banker on [[Wall Street]] until retiring.<ref name=Steele20180228 />
Their three children spent their early years in Singapore.<ref name=Steele20180228>{{Cite web|url=https://www.sandiegouniontribune.com/business/technology/sd-fi-broadcom-hock-tan-profile-20180228-story.html|title=Broadcom's CEO has fortune and business success, but autism touched his family|date=2018-02-28|website=San Diego Union-Tribune|access-date=2020-12-10 |last=Steele |first=Jeanette}}</ref> 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.<ref name=Burling20170209 /> Douglas attended the Timothy School in Philadelphia, and now lives in a Devereux Advanced Behavioral Health [[group home]].<ref name=Burling20170209 /> Their daughter Eva has been diagnosed with a milder form of autism.<ref name=Steele20180228 /> Yang helped Eva with her "poor auditory processing skills" when she started taking classes at [[Harcum College]].<ref name=Burling20170209 /> Eva was later hired by [[SAP]] under their Autism at Work program.<ref name=Burling20170209 /> Their other son, who does not have autism, works as an investment banker in [[California]].<ref name=Burling20170209 />
==Philanthropy==
Tan and Yang donate money to their [[alma maters]] and autism charities.
In 2015, Tan honored former MIT professor Nam P. Suh by donating $4 million to the school to [[Financial endowment|endow]] a mechanical engineering professorship.<ref>{{Cite web |title=Alumnus Hock Tan pledges $4 million gift for endowed chair in MechE |url=https://news.mit.edu/2015/alum-hock-tan-4-million-gift-meche-0706 |website=[[MIT News]] |date=July 6, 2015 |access-date=December 10, 2020 |last=Mallinson |first=Alissa}}</ref>
The same year, Tan and Yang donated $10 million to Cornell University to fund the K. Lisa Yang and Hock E. Tan Employment and Disability Institute.<ref name=Burling20170209 />
Tan and Yang donated $20 million to MIT in 2017 to fund research to find effective treatments for autism and find its causes.<ref name=Burling20170209 /> Their donation created the Hock E. Tan and K. Lisa Yang Center for Autism Research.<ref name=Burling20170209 />
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.<ref name=Jennings20200915 />
Yang donated $2 million in 2020 to Neurodiversity in the Workplace, a [[nonprofit organization]] that helps employers find talented people with autism.<ref name=Riddle20200924>{{Cite press release |title=Neurodiversity in the Workplace™ Receives $2 Million Dollar Endowment from Lisa Yang to Ensure Strong Future for Neurodiverse Hiring and Expanded Impact on Autistic Inclusion |url=https://www.yahoo.com/lifestyle/neurodiversity-workplace-receives-2-million-165500528.html |website=[[Yahoo!]] |date=September 24, 2020 |access-date=December 11, 2020 |last=Riddle |first=Joseph |agency=[[PR Newswire]] |publisher=Neurodiversity in the Workplace}}</ref>
Tan and Yang donated $28 million in 2020 to MIT to create the Yang-Tan Center for Molecular Therapeutics in Neuroscience.<ref name=Jennings20200915>{{Cite web |title=Broadcom CEO Donates $28 Million To MIT, Fueling Research For Brain Disorders |url=https://www.forbes.com/sites/katiejennings/2020/09/15/new-mit-mcgovern-center-will-speed-up-development-of--therapeutics-for-brain-disorders/ |website=[[Forbes (magazine)|Forbes]] |date=September 15, 2020 |access-date=December 12, 2020 |last=Jennings |first=Katie}}</ref>
== References ==
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{{Meta Platforms}}
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[[Category:Malaysian people of Chinese descent]]
[[Category:Living people]]
[[Category:People from Penang]]
[[Category:1952 births]]
[[Category:American people of Chinese descent]]
[[Category:MIT School of Engineering alumni]]
[[Category:Harvard Business School alumni]]
[[Category:Broadcom]]
[[Category:American people of Malaysian descent]]