Mark Zuckerberg and Meta have confronted intense scrutiny over the corporate's enterprise practices.
AP
Fb mum or dad Meta spent a fortune on efforts to maintain its high boss Mark Zuckerberg and his household secure in 2021 – with safety bills that dwarfed these of different high executives within the tech sector.
Meta earmarked practically $27 million for what it described as an “general safety program” for Zuckerberg, the corporate disclosed in an SEC submitting. The whole included practically $15.2 million on “private safety for Mr. Zuckerberg at his residences” in addition to throughout his private journey.
An extra $10 million got here within the type of an “annual pre-tax allowance” meant for different security-related prices for Zuckerberg, his spouse Priscilla Chan and their kids. The remaining funds coated Zuckerberg’s personal air journey.
Within the submitting, Meta stated the safety bills have been needed as a result of Zuckerberg faces particular threats “because of the high-profile nature of being our founder, CEO, Chairman, and controlling shareholder.”
“We imagine that Mr. Zuckerberg’s position places him in a singular place: he's synonymous with Meta and, in consequence, adverse sentiment concerning our firm is immediately related to, and sometimes transferred to, Mr. Zuckerberg,” the submitting stated.
“Mr. Zuckerberg is among the most-recognized executives on this planet, largely because of the dimensions of our consumer base and our continued publicity to international media, legislative, and regulatory consideration.”
The safety prices comprised the majority of compensation for Zuckerberg, who takes a base wage of simply $1 and doesn’t obtain any stock-based awards. Zuckerberg has an estimated fortune of practically $78 billion, in keeping with Forbes.
Meta’s safety spending was even larger than the earlier yr, when the corporate spent roughly $23.4 million on his safety.
Whereas firms repeatedly spend important sums on safety and journey bills for high bosses, Zuckerberg’s safety spending is extra in depth than most.
For instance, Amazon spent about $1.6 million on safety and enterprise journey for its founder and chairman Jeff Bezos final yr. Apple spent $630,630 towards safety for its CEO Tim Prepare dinner, in addition to one other $712,488 on his private journey bills.
Meta has confronted intense criticism in recent times over its enterprise practices. The newest backlash stemmed from the Congressional testimony of whistleblower Frances Haugen, a former worker who accused the corporate of prioritizing income over the well-being of its customers.
Earlier this yr, Meta’s share worth cratered after the corporate reported the primary decline of its lively consumer base in its historical past.
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