How Intel's new CEO Lip-Bu Tan became a billionaire
What's the story
Intel's CEO, Lip-Bu Tan, has a net worth of at least $1.1 billion, according to the Bloomberg Billionaires Index. The bulk of his wealth comes from Cadence Design Systems Inc, where he served as CEO for 12 years before joining Intel. He has sold over $575 million worth of shares in the company and still holds a stake valued at around $500 million.
Reversal
Trump's initial ouster call
US President Donald Trump had initially called for Tan's ouster but changed his mind after a "very interesting" meeting with the executive. "His success and rise is an amazing story," Trump said in a Truth Social post. The reversal came as Tan's leadership has seen Intel's stock price rise by 15% since his appointment as CEO in March.
Background
Criticism over Chinese ties
Tan, a naturalized US citizen born in Malaysia in 1959, has faced criticism over his past ties with China. This includes Cadence's export-control violations during his tenure and the company's sale of products to a Chinese military university. Despite these allegations, Tan has maintained that he has always operated within the highest legal and ethical standards throughout his career.
Career path
Venture capital background
After graduating with a degree in physics from Nanyang Technical University, Tan earned a master's in nuclear engineering from MIT and an MBA from the University of San Francisco. He then entered the venture capital world and focused on semiconductors at a time when it was considered a "sunset" industry.
Financials
Tan's compensation package and stock options
Tan, who rejoined Intel's board, owns some 1.2 million shares of the company. About 99% of these were acquired after he agreed to become CEO. His compensation package includes a $1 million salary, a performance-based bonus worth 200% of his pay, and long-term equity awards and stock options worth $66 million.