Mark Zuckerberg Spent $23.4M On Security Alone In 2020

According to analysis, Facebook spent more than $ 20 million on security for CEO Mark Zuckerberg in 2020 alone.

Study from protocolA look at how big tech companies spent on 11 executives found that a pandemic increased personal security costs last year. Zuckerberg’s security budget alone accounted for $ 46 million, more than half of the total spent on 11 executives.

Facebook invested $ 23.4 million in CEO’s personal security last year, based on an analysis of protocol filings by the Securities and Exchange Commission (SEC). That’s $ 3 million more than it costs in 2019.

The company provides Zuckerberg with an annual benefit of $ 10 million for personal security. That means social network companies added an additional $ 13.4 million in 2020 alone. According to Facebook, the cost is the growing need for security during the COVID-19 pandemic and elections.

“I believe Zuckerberg’s role puts him in a unique position. He is synonymous with Facebook, and as a result, negative sentiment towards us is directly related to Zuckerberg and is often transferred. Will be done, “said Facebook. Filing..

By comparison, in 2020, $ 7.6 million was spent protecting Facebook COO Sheryl Sandberg.

Next, Google CEO Sundar Pichai and Lyft president John Zimmer spent $ 5.4 million and $ 2 million, respectively. Zoom paid CEO Eric Yuan over $ 600,000 in personal security, and Apple paid Tim Cook’s security in $ 470,000.

Meanwhile, Amazon continued to pay $ 1.6 million for the security of its founder Jeff Bezos. The former CEO bears the additional security costs.

Companies are required by the SEC to disclose spending for the personal benefit of nominated executives.

“If there are executives who act as bodyguards, or drivers who accompany them when they are in public service, it will not tend to be disclosed,” Compencia’s Mark Borges told the protocol. .. “But security measures are usually taken 24 hours a day, 7 days a week, so individuals are associated with activities, places, or times when executives are not working or are likely to be acting as executives. There are chunks that are considered costly. Company. “

With a net worth of $ 138 billion, Zuckerberg is currently the fifth wealthiest person in the world. Bloomberg Billionaire Index.. The company reported revenue of $ 86 billion last year and has approximately 2.8 billion monthly users.

The 37-year-old woman currently owns a total of about 400 million shares of Facebook, including 12 million shares in Class A and 365 million shares in Class B. Celebrity Network report.

Zuckerberg owns 81% of the company’s total B share and has 53% voting rights on Facebook. He also controls co-founder Dustin Moskovitz’s Class B voting rights, with his total voting rights at 58%.

In 2015, Zuckerberg and his wife, Priscilla Chan, promised to donate 99% of Facebook’s stake to philanthropy for the rest of their lives. Forbes..

Mark Zuckerberg co-founded Facebook as a campus-based social network in 2004, but its user base is outdated.

Mark Zuckerberg Spent $23.4M On Security Alone In 2020 Source link Mark Zuckerberg Spent $23.4M On Security Alone In 2020

Back to top button