Hot potato: Meta mentioned it was growing funding for Mark Zuckerberg’s private safety by $4 million, bringing the whole to $14 million. The firm reduce hundreds of jobs, and its chief govt spoke of 2023 as a “yr of effectivity.”
Meta revealed in a submitting with the US Securities and Exchange Commission that the annual pre-tax allowance to cowl Zuckerberg’s safety prices has elevated from $10 million to $14 million, a determine that has remained unchanged since 2018. Change. Last week, Meta’s board determined a 40% improve was “acceptable and needed within the circumstances”.
Meta mentioned the upper quantity was to “handle safety considerations arising from particular threats to his safety that have been a direct results of his place as Meta’s founder, chairman and chief govt officer.”
$14 million per yr to pay for “extra personnel, tools, companies, residence enhancements or different security-related bills” for Zuckerberg and his household. That’s some huge cash, however the last determine for securing Meta’s chief govt will probably be increased as a result of the submitting would not embrace different safety prices.Last yr, the corporate spent $16.8 million to guard Zuckerberg above The $10 million stipend totaled $26.8 million, and it spent $23.44 million in 2020 to guard its founders.
Most massive tech firms spend some huge cash to maintain their CEOs and different prime executives secure, however Zuckerberg’s prices far outweigh everybody else’s.
Meta’s spending thousands and thousands to maintain its boss and his household secure is unlikely to please the corporate’s not too long ago laid-off 11,000 workers, for which the CEO is accountable. Zuckerberg’s speak of a leaner Meta when he referred to as 2023 the “Year of Efficiency” additionally sounds hole now.
Meta’s submitting additionally states that its founder’s wage is simply $1 a yr, however his stake within the firm means he earns way more. Zuckerberg could now not seem on Bloomberg’s checklist of the highest 10 billionaires, however his $64.2 billion fortune makes him the 18th richest individual on the planet.