Meta Company has announced, increasing the amount of money it spends on Mark Zuckerberg’s personal security by $4 million, bringing his total protection costs to $14 million. Meanwhile, this company is eliminating and firing thousands of job opportunities and employees, and its CEO also called 2023Year of performancehas named
- Laying off 11,000 Meta employees and Zuckerberg taking full responsibility
A 40% increase “in the existing conditions” is appropriate and necessary
Meta disclosed in a filing with the Securities and Exchange Commission that the annual pre-tax allowance to cover Zuckerberg’s security costs increased to $14 million from $10 million, which had remained unchanged since 2018. Last week, Meta’s board decided that a 40 percent increase was appropriate and necessary “under the current circumstances.” Meta stated that the fee increase “is to address security concerns due to specific threats to his safety that arise directly as a result of his position as founder, chairman and CEO of Meta.”
The $14 million a year is for “additional personnel, equipment, services, residential improvements or other security-related expenses” for Zuckerberg and his family. Although this is a large sum, the final figure for keeping the meta CEO safe will be even higher since the case does not include other security costs. Last year, the company spent $16.8 million on Mark Zuckerberg’s protection, in addition to $10 million in pre-announced grants, bringing the total to $26.8 million, as well as $23.44 million in 2020 for the founder’s personal security. He paid for it himself.
Of course, it is common practice for tech companies to spend heavily to protect CEOs and other senior executives, but what stands out here is the huge difference in Zuckerberg’s spending compared to other tech companies. Of course, if you pay attention, you will see that the second person is Shirley Sandberg, another senior manager of this company, which shows that Facebook cares a lot about the security of its managers.
Meta, which spends millions to keep its boss and his family safe, is unlikely to appease the 11,000 people the company recently laid off, a move the CEO took responsibility for. Zuckerberg’s talk of a leaner meta while calling 2023 “the year of efficiency” sounds a bit hollow and rhetorical even now.
Meta’s filing also notes that the founder is only paid $1 per year, but his stake in the company means his actual income is much higher. Zuckerberg may no longer be in Bloomberg’s top ten billionaires list, but his $64.2 billion fortune makes him the 18th richest person in the world.
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- Mark Zuckerberg’s belief that Apple’s walled garden is unstable and its failure
