Monday, April 12, 2021

Facebook spent $23 million on Mark Zuckerberg's security last year.

Facebook spent more than $25 million on CEO Mark Zuckerberg in 2020, according to a proxy statement
 which the social media giant filed on Friday.

BUSINESS INSIDER AFRICA

This is $2 million more than Facebook spent on Zuckerberg in 2019. This was largely down to more spending on personal security, thanks to rising costs during the pandemic and US elections, Facebook said.

In 2020, Facebook spent more than $13.4 million on personal security for Zuckerberg "at his residences and during personal travel pursuant to Mr. Zuckerberg's overall security program," the filing said.

He also received a pre-tax annual allowance of $10 million for his family's security, taking total security spend to $23.4 million, plus $1.8 million in costs for his use of private jets.

The $3 million rise in security spend from 2019 to 2020 was "primarily due to regular personal travel, costs relating to security protocols during the COVID-19 pandemic, increased security coverage during the 2020 US elections and other periods with increased security risk, and market increases in the costs of security personnel," Facebook said.

Zuckerberg accepted a $1 salary from Facebook, as he has in previous years, and didn't receive any bonus payments or incentive compensation, the company said in the filing.

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