Meta increases personal security spending for Mark Zuckerberg to $14 million amid layoffs...

[midian182]

A hot potato: Meta says it is increasing the amount of money it spends on Mark Zuckerberg's personal security by $4 million, taking the total to $14 million. It comes as the company eliminates thousands of jobs and its CEO talks about 2023 being the "year of efficiency."

Meta revealed in a filing with the Securities and Exchange Commission that the annual pre-tax allowance to cover Zuckerberg's security costs has increased from $10 million, which had stayed the same since 2018, to $14 million. Last week, Meta's board of directors decided that the 40% increase was "appropriate and necessary under the circumstances."

Meta said that the higher amount was "to address safety concerns due to specific threats to his safety arising directly as a result of his position as Meta's founder, Chairman, and CEO."

The $14 million per year is to pay for "additional personnel, equipment, services, residential improvements, or other security-related costs" for Zuckerberg and his family. That's a lot of money, but the final figure for keeping Meta's CEO safe will be even higher as the filing doesn't include other security expenses. Last year the company spent $16.8 million protecting Zuck on top of the $10 million allowance for a total of $26.8 million, and it spent $23.44 million protecting its founder in 2020.

Most big tech companies spend a lot of money keeping their CEOs and other top execs safe, but Zuckerberg's costs exceed all others by a wide margin.

Meta spending millions of dollars to keep its boss and his family safe is unlikely to please the 11,000 people the company has laid off recently, a move that the CEO took accountability for. Zuckerberg's talk of Meta becoming leaner while calling 2023 the "year of efficiency" now rings slightly hollow, too.

Meta's filing also notes that its founder has a salary of just $1 per year, but his shares in the company mean his earnings are much higher. Zuckerberg might not be in Bloomberg's top ten billionaires list anymore, but his $64.2 billion fortune makes him the 18th richest person in the world.

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https://www.techspot.com/news/97644-meta-increases-personal-security-spending-mark-zuckerberg-14.html

 

[Uncle Al]

Just a thought, but if these "top exec's" were required to go without protection or security, they might be a lot more careful about their decisions that had an impact on employee's .....

 

[Bl00dyMinded]

Just a thought, but if these "top exec's" were required to go without protection or security, they might be a lot more careful about their decisions that had an impact on employee's .....

Wont make a difference. Then those who don't agree with those decisions would be upset. You will never be able to please them all. And all it takes is just 1.

What I find crazy is why does he spend so much... Even Bezos doesn't even reach $3 million... and if anything his employees are mostly the pissed off ones. And he is the richest of them all.

 

[UdyrL]

What I find crazy is why does he spend so much... Even Bezos doesn't even reach $3 million

A wild guess: Bezos is 20 years older. He probably doesn't travel as much or limits his destinations, and his children are mostly big boys and girls that don't need daddy's direct protection, and probably stay out of the public's eyes. Also, he's not the CEO anymore, so "decisions" fall into someone else's shoulders.

Mark probably travels a lot more to many different places because of family holidays and what not.

 

[Kashim]

A wild guess: Bezos is 20 years older. He probably doesn't travel as much or limits his destinations, and his children are mostly big boys and girls that don't need daddy's direct protection, and probably stay out of the public's eyes. Also, he's not the CEO anymore, so "decisions" fall into someone else's shoulders.

Mark probably travels a lot more to many different places because of family holidays and what not.

Your ridiculous speculations are giving me a headache. You could've just as easily speculated that he likes to dress up as a superhero to prowl the streets at night, so he he needs extra protection. Would've made about as much sense.

 

[toooooot]

While I hate what happened to FB in years, 14m is not a big number. I suppose thousands of creeps send him threats for things including banning them of the platform.

 

[UdyrL]

Your ridiculous speculations are giving me a headache. You could've just as easily speculated that he likes to dress up as a superhero to prowl the streets at night, so he he needs extra protection. Would've made about as much sense.

It could well be. You never know.

I don't know why is it so ridiculous someone with a younger family needing a lot more protection, especially after so many workers lost their job because of this person's "mea culpa".

 

[rsmith222]

Some people are much more people than others.