Business Today
Loading...

Facebook spent $23.4 million on Zuckerberg's air travel, security in 2019, says report

There has been a considerable increase in Zuckerberg's air travel, security expenditure and the company has cited "concerns due to specific threats to his safety" as a reason for the increase.

twitter-logo Yasmin Ahmed   New Delhi     Last Updated: April 13, 2020  | 16:32 IST
(Source: Reuters)

Highlights

  • Facebook reportedly spent $23.4 million on Zuckerberg’s air travel and security in 2019.
  • Zuckerberg’s annual salary, however, remains to be $1.
  • Facebook’s COO Sandberg received a personal security compensation of $4.37 million in 2019.

Facebook has made security more stringent and is spending more than what it did as compared to 2017 and 2018 for its Chief Executive Officer (CEO) Mark Zuckerberg and Chief Operating Officer (COO) Sheryl Sandberg.

Facebook spent $23.4 million on CEO Mark Zuckerberg's travel and security in 2019. This was $3.4 million more than what Facebook spent on Zuckerberg for security and air travel in 2018, according to a report by CNBC.

Moreover, the social-media giant also spent $2.95 million on Zuckerberg's private travel. In 2018, this was $2.59 million and $1.52 million in 2017.

Even though Zuckerberg takes $1 as his annual salary, his compensation, for the year 2018, is $22.6 million. In 2017, Zuckerberg's total compensation was $ 9.1 million.

The funds include approximately $10,463,717 for costs related to personal security for Zuckerberg at his home and for his personal travel. These funds also include an additional $10 million for protection of Zuckerberg and his family.

IANS quoted the Facebook's financial filing saying, "Because of the high visibility of our company, our compensation, nominating and governance committee has authorized an 'overall security program' for Mr. Zuckerberg to address safety concerns due to specific threats to his safety arising directly as a result of his position as our founder, CEO, Chairman, and controlling stockholder."

According to a financial filing statement submitted by Facebook at the Securities Exchange Commission (SEC), Zuckerberg spent $7.5 million in 2017 and $9.95 million on private security in 2018.

These expenses have been marked under "other expenses" for Zuckerberg.

Facebook's Chief Operating Officer (COO), Sheryl Sandberg, took home a base pay of $8,75,000 which was a little higher than 2018's compensation of $8,43,000.

The bonus cost Sandberg received in 2019 was $9,02,740. It was $6,38,000 in 2018 with stock awards worth $19.67 million.

Sandberg received a personal security compensation of $4.37 million in 2019. This was $2.9 million extra from what she received in 2018.

"Our compensation, nominating and governance committee has also authorized a security program for Ms. Sandberg, including certain personal security measures, to address safety concerns resulting from her position as our COO," Facebook financial filing quoted by the IANS further read.

Sandberg's use of private aircraft cost Facebook $1.3 million in 2019. It was $9,08,677 in 2018.

According to Facebook, the costs of private aircraft include passenger fees, fuel, crew and catering costs reported by a charter company.

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close