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Hock Tan | |
|---|---|
| 陳福陽 | |
| Born | Tan Hock Eng 1951 or 1952 (age 73–74) |
| Nationality | American |
| Education | |
| Occupation | Business executive |
| Years active | 1983–present |
| Title | CEO ofBroadcom |
| Children | 3 |
Tan Hock Eng (Chinese:陳福陽;pinyin:Chén Fúyáng;Pe̍h-ōe-jī:Tân Hok-iâng; born 1951 or 1952) is aMalaysian-bornChinese-American business executive. He is the CEO ofBroadcom Inc. He was the highest-earning CEO in the US in 2017, earning US$103.2 million that year.[1]
Tan was born inPenang, Malaysia, in 1951 or 1952.[2] He received a scholarship to attend theMassachusetts Institute of Technology (MIT) in 1971. In 1975, he graduated with a bachelor's degree inmechanical engineering and earned a master's degree in the same subject later in the year.[3][4] Tan also attendedHarvard University to earn anMBA a few years later.[2][5]
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 atGeneral Motors Co andPepsiCo Inc before becoming the Vice President of Finance ofCommodore International Ltd.
Tan went on to become the CEO of Integrated Circuit Systems Inc. When this was sold toIntegrated Device Technology Inc, he became the latter company's chairman.
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.[6]
In 2015, Tan merged the company withBroadcom Corporation following an acquisition, leading to the creation ofBroadcom Inc which he currently runs.
In November 2017 Broadcom announced that it had completed its move fromSingapore 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.[7]
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.[8] In September 2020, Tan stated that all Broadcom employees were working in the office in Asia excluding India, and 50% in North America.[9]
In 2023, Tan's total compensation from Broadcom was $161.8 million, up 167% from the previous year and representing a CEO-to-median workerpay ratio of 510-to-1 for the company, as well as making Tan the third highest paid CEO in the US that year.[10]
Since February 2024, he is a member of the board of directors ofMeta.[11]
Tan became a U.S. citizen in 1990.[12] He married K. Lisa Yang.[13] Born inSingapore, Yang graduated fromCornell University.[13] After the family moved to the U.S., Yang worked as an investment banker onWall Street until retiring.[2]
Their three children spent their early years in Singapore.[2] The family moved toPhiladelphia after their son Douglas was diagnosed withautism by a pediatricneurologist at theChildren's Hospital of Philadelphia who suggested the boy would receive a better education in the U.S.[13] Douglas attended the Timothy School in Philadelphia, and now lives in a Devereux Advanced Behavioral Healthgroup home.[13] Their daughter Eva has been diagnosed with a milder form of autism.[2] Yang helped Eva with her "poor auditory processing skills" when she started taking classes atHarcum College.[13] Eva was later hired bySAP under their Autism at Work program.[13] Their other son, who does not have autism, works as an investment banker inCalifornia.[13]
Tan divorced K. Lisa Yang and married Lya Truong.[14]
Tan and Yang donate money to theiralma maters and autism charities.
In 2015, Tan honored former MIT professor Nam P. Suh by donating $4 million to the school toendow a mechanical engineering professorship.[15]
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.[13]
Tan and Yang donated $20 million to MIT in 2017 to fund research to find effective treatments for autism and find its causes.[13] Their donation created the Hock E. Tan and K. Lisa Yang Center for Autism Research.[13]
In 2019, Tan and Yang donated $20 million toHarvard Medical School to create the Tan-Yang Center for Autism Research, a sister of the MIT center.[16]
Yang donated $2 million in 2020 to Neurodiversity in the Workplace, anonprofit organization that helps employers find talented people with autism.[17]
Tan and Yang donated $28 million in 2020 to MIT to create the Yang-Tan Center for Molecular Therapeutics in Neuroscience.[16]