An analysis shows that in 2020 alone, Facebook spent more than $20 million on security for its CEO, Mark Zuckerberg.
Research from protocolStudying the spending of 11 executives by large technology companies, it was found that personal security costs increased last year due to the pandemic. Zuckerberg’s security budget alone accounted for more than half of the total expenditures of the 11 executives, or $46 million.
According to Protocol’s analysis of U.S. Securities and Exchange Commission (SEC) documents, Facebook spent $23.4 million on personal security for its CEO last year, which is $3 million more than his spending in 2019.
The company provides Zuckerberg with a personal security allowance of US$10 million each year, which means that the social networking company has added another US$13.4 million in 2020 alone. According to Facebook, increased security needs and elections during the COVID-19 pandemic.
“We believe that Mr. Zuckerberg’s role puts him in a unique position: he is synonymous with Facebook, so the negative sentiment towards our company is directly related to Mr. Zuckerberg and is often transferred to Mr. Zuckerberg. Body,” Facebook said in its statement. Record.
By comparison, Facebook’s chief operating officer Sheryl Sandberg’s protection costs in 2020 are $7.6 million.
Followed by Google CEO Sundar Pichai and Lyft President John Zimmer, they spent 5.4 million US dollars and 2 million US dollars. Zoom paid more than $600,000 in personal security expenses for CEO Eric Yuan, and Apple paid $470,000 in security expenses for Tim Cook.
On the other hand, Amazon continues to pay $1.6 million for the safety of founder Jeff Bezos as in previous years. The former CEO bears any additional security costs.
The US Securities and Exchange Commission requires companies to disclose the expenses incurred for the personal benefit of their designated executives.
Compensia’s Mark Borges told the Protocol: “If an executive has a bodyguard, or a driver who serves as a bodyguard to accompany them on a business trip, this is often not disclosed.” “Although it happens. The situation is usually 24/7 security measures, so part of it is considered personal expenses because it is related to activities, locations, or time, when the administrative staff should be off-duty or involved in performing their role as administrative staff in the company.”
Zuckerberg has a net worth of US$138 billion and is currently the fifth richest man in the world. Bloomberg Billionaire IndexThe company reported last year’s revenue of $86 billion and monthly users of approximately 2.8 billion.
The 37-year-old currently owns about 400 million shares of Facebook, including 12 million shares of A and 365 million shares of B shares. Celebrity net worth Report.
Zuckerberg holds 81% of all B shares of the company and 53% of the voting rights in Facebook. He also controls the B voting rights of co-founder Dustin Moskovitz, bringing his total voting rights to 58%.
According to reports, Zuckerberg and his wife Priscilla Chan pledged in 2015 to donate 99% of their Facebook shares to charity during their lifetime. Forbes.
Mark Zuckerberg co-founded Facebook as a campus social network in 2004, but its user base has been aging
Photo: Getty Images North America/Kevin Dietsch
