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Home » Meta To Spend $14million On Mark Zuckerberg’s Personal Security
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Meta To Spend $14million On Mark Zuckerberg’s Personal Security

DigitalTimesNGBy DigitalTimesNG17 February 2023No Comments2 Mins Read4 Views
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Meta says it is increasing the amount of money it spends on Mark Zuckerberg’s personal security by $4 million, taking the total to $14 million.

Techspot reports that this comes as the company eliminates thousands of jobs and its CEO talks about 2023 being the “year of efficiency.”

Meta revealed in a filing with the Securities and Exchange Commission that the annual pre-tax allowance to cover Zuckerberg’s security costs has increased from $10 million, which had stayed the same since 2018, to $14 million.

Last week, Meta’s board of directors decided that the 40% increase was “appropriate and necessary under the circumstances.”

Meta said that the higher amount was “to address safety concerns due to specific threats to his safety arising directly as a result of his position as Meta’s founder, Chairman, and CEO.”

The $14 million per year is to pay for “additional personnel, equipment, services, residential improvements, or other security-related costs” for Zuckerberg and his family.

That’s a lot of money, but the final figure for keeping Meta’s CEO safe will be even higher as the filing doesn’t include other security expenses.

Last year, the company spent $16.8 million protecting Zuck on top of the $10 million allowance for a total of $26.8 million, and it spent $23.44 million protecting its founder in 2020.

Most big tech companies spend a lot of money keeping their CEOs and other top execs safe, but Zuckerberg’s costs exceed all others by a wide margin.

Meta spending millions of dollars to keep its boss and his family safe is unlikely to please the 11,000 people the company has laid off recently, a move that the CEO took accountability for.

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Zuckerberg’s talk of Meta becoming leaner while calling 2023 the “year of efficiency” now rings slightly hollow, too.

Meta’s filing also notes that its founder has a salary of just $1 per year, but his shares in the company mean his earnings are much higher.

Zuckerberg might not be in Bloomberg’s top ten billionaires list anymore, but his $64.2 billion fortune makes him the 18th richest person in the world.

#$14million #Mark Zuckerberg #Meta #Personal Security Featured
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