These CEOs received some of highest pay packages in 2023: WSJ
CEO Pay Soars in 2023: Fair or Excessive?
In 2023, CEO compensation among S&P 500 companies saw a significant increase, with the median pay rising over 8% to $15.7 million, as reported by The Wall Street Journal. The highest earners included Broadcom’s Hock Tan with $161.83 million and Palo Alto Networks’ Nikesh Arora at $151.43 million, mostly in equity-linked packages tied to performance and tenure. Other top earners were Blackstone’s Stephen Schwarzman, Charter Communications’ Christopher Winfrey, and Fair Isaac’s Will Lansing, reflecting a broader trend of rising executive compensation linked to company performance and stock market gains.
Who were the top five highest-paid CEOs in the S&P 500 for the year 2023, according to The Wall Street Journal?
According to The Wall Street Journal, the top five highest-paid CEOs in the S&P 500 for the year 2023 were:
- Hock Tan - Broadcom: Tan was compensated about $161.83 million in 2023, with a major portion of it tied to his continued leadership as CEO and stock performance.
- Nikesh Arora - Palo Alto Networks: Arora received an equity-heavy pay package of $151.43 million last year and has served as the company's chief executive for roughly six years.
- Stephen Schwarzman - Blackstone: Schwarzman's 2023 compensation was reported to be $119.78 million. Blackstone manages over $1 trillion in assets.
- Christopher Winfrey - Charter Communications: Winfrey's compensation in 2023 was $89.1 million, with stock and options with five-year vesting periods making up most of it.
- Will Lansing - Fair Isaac (FICO): Lansing received a total pay of $66.35 million in 2023, with $30 million having a five-year vesting period related to his continued leadership of the company5.
How much total compensation did Broadcom’s CEO Hock Tan receive in 2023, and what were the components of this compensation?
In 2023, Broadcom's CEO Hock Tan received a total compensation of approximately $161.83 million. The vast majority of this compensation came in the form of stock awards, totaling about $160.54 million. In addition to the stock awards, Tan received a base salary of $1.2 million, which had remained consistent over the previous three years. The stock awards are noted to represent the fair value of the maximum vesting opportunity under the company's stock award plan, indicating that these awards are tied to specific performance metrics and Tan’s continued role as CEO. This compensation structure reflects a significant increase from the previous year, where Tan's total compensation was $60.6 million.