Facebook spent $20 million last year on Zuckerberg’s personal protection
2018 was by all means a very rough year for Facebook. The company, which spent the year reeling from the Cambridge Analytica scandal and a general bubbling-up of public anger, also had to deal with animosity toward the company’s founder, and gave the executive a lot of cash to handle a full security detail for himself and his family.
While Facebook CEO Mark Zuckerberg takes a $1 annual salary and does not earn an annual bonus, he gets millions in “other compensation” largely related to security costs. In an SEC document published this afternoon, the company reveals that Zuckerberg earned more than $22 million in “other compensation” in 2018, up from more than $9 million in 2017.
About $2.6 million of the 2018 figure is compensation for Zuckerberg’s personal travel on a private jet, but nearly $20 million of that figure is related to Zuckerberg’s personal security costs.
He was awarded $9,956,847 in pre-tax 2018 income for security related to his personal travel and residential protection. Additionally the company game him another pre-tax allowance of $10 million to cover “additional costs” related to his and his family’s personal security. This all adds up to an amount that nearly triples the costs of personal protection he had in 2017.
“Because of the high visibility of our company, our compensation & governance committee has authorized an ‘overall security program’ for Mr. Zuckerberg to address safety concerns due to specific threats to his safety arising directly as a result of his position as our founder, CEO, Chairman, and controlling stockholder,” the company document reads.
Personal security program compensation was also given to Facebook COO Sheryl Sandberg, who earned $3.8 million in “other compensation” in 2018, $2.9 million of which was for her personal security costs.
Source : TechCrunch