Facebook Spends $22.6 Million For Mark Zuckerberg’s Safety

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Today, a regulatory filing revealed that Facebook Inc more than doubled the money that it spent on the security of Mark Zuckerberg, its Chief Executive Officer last year to $22.6 million (£17.3 million).

Zuckerberg has reported a base salary of $1 for the past three years, and his “other” compensation was listed at $22.6 million, the majority of which was for his personal security.

Almost $20 million went towards the security of Zuckerberg and his family, an increase from around $9 million from the previous year. Zuckerberg was also given $2.6 million for personal use of private jets, which the firm said was part of his overall security programme.

In the past few years, Facebook has faced public outcry over its role in the alleged influence of Russia on the U.S. presidential election in 2016 and has come under fire after the revelations that Cambridge Analytica obtained personal information from millions of Facebook profiles without the consent of the users.

Last year Sheryl Sandberg, the Chief Operating Officer of Facebook, took home $23.7 million compared to the $25.2 million that she received in 2017.

Separately, Facebook said that Reed Hastings, the Chief Executive Officer of Netflix, would vacate his seat on the board of the social media company and that he will not be nominated for re-election.

The departure of Hastings comes as the Menlo Park-based firm beefs up its push into videos. Hastings has served on the board of Facebook since 2011.

The social media giant also said that it would nominate Peggy Alford, the senior vice president of core markets of PayPal, to its board in place of Erskine Bowles, the President Emeritus of the University of North Carolina who will also not be re-nominated.

The shares of Facebook closed at $179.07 this evening.