Mark Zuckerberg Security Cost $22.6 million in 2018

Mark ZuckerbergFacebook CEO Mark Zuckerberg
  • Mark Zuckerberg Security Cost $22.6 million in 2018

Facebook Inc increased the cost of protecting its Chief Executive Officer Mark Zuckerberg in 2018 to $22.6 million, according to a regulatory filing.

Almost $20 million was spent on Zuckerberg’s security, up from $9 million in 2017. The CEO also received $2.6 million for personal use of private jets.

Zuckerberg has drawn a base salary of $1 for the past three years and ‘other’ compensation was listed at $22.6 million, largely for his personal security.

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

Chief Operating Officer Sheryl Sandberg took home $23.7 million in 2018 compared to $25.2 million last year.

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

Hastings’ departure comes as the Menlo Park-based company beefs up its push into videos. Hastings has served on Facebook’s board since 2011.

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

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: samed@investorsking.com.

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