Facebook owner Meta spent an extra $4m (£3.3m) on Mark Zuckerberg’s personal security during the company’s ‘year of efficiency’, resulting in 11,000 people has been reduced.
Meta founder and CEO Zuckerberg has received $14 million from the company for his security bills as part of his overall compensation package, according to regulatory filings. I will receive it.
Meta’s Board of Directors declared the 40 percent increase “appropriate and necessary under the circumstances.”
A filing with the U.S. Securities and Exchange Commission (SEC) states that “Meta requires security measures for the benefit of the company because Mr. Zuckerberg is important to Meta.”
Mehta said the security clearance was “created to address security concerns due to specific threats to him.” [Mr Zuckerberg’s] A security that comes directly as a result of his position as founder, chairman and CEO of Meta. “
Previously, Mr Zuckerberg received $10m (£8.28m) a year to cover his personal security costs, which was last reviewed in 2018, according to the application.
This comes after Zuckerberg declared that Meta would be embarking on a “year of efficiency” after recording its first-ever annual decline in revenue. In November, the company announced that it would cut about 13% of its global workforce, or 11,000 jobs, in a rush to cut costs.
Zuckerberg’s security allowance far exceeds Meta’s actual spending on the safety and security of his wife, Priscilla, of 37, and their family.
The company spent $26.8m (£22.2m) on security for the Zuckerbergs in 2021, according to previous regulatory filings.
Meta covered the difference between the founder’s personal security allowance and actual expenses.
Zuckerberg also has a $1.6 million allowance for a private jet, Bloomberg reports.
He earns just $1 a year, but his sizeable stake in Facebook makes him worth around $65 billion (£53.9 billion).
Comparable tech companies spend far less money on security for their bosses.
Google CEO Sundar Pichai received $1.2 million in 2020, while Apple CEO Tim Cook claimed $630,000 in security bills and $712,000 in travel expenses, totaling about $1.3 million. Did.