Here's how much Meta pays for CEO Mark Zuckerberg's security

Meta Platforms Inc has increased the security allowance given to CEO and co-founder Mark Zuckerberg and his family, calling it 'appropriate and necessary'. The company increased Zuckerberg's security allowance on Wednesday by $4 million to $14 million. 

"This increased allowance, together with the costs of Zuckerberg's existing overall security program, are appropriate and necessary under the circumstances," Meta said in a filing.

Zuckerberg is currently number 16 on the Forbes Live Billionaire list with a net worth of over $63 billion. For the year 2021, he earned a compensation of about $27 million. His compensation for 2022 has not been revealed yet.

The increased spending is coming at a time when the company has announced layoffs of thousands of employees with reportedly more pink slips planned in the coming weeks. The company apparently has not revealed budgets for many of the teams for 2023, something that is usually clear at the beginning of the year. This has led to some speculation of more incoming job cuts. 

Meta laid off 11,000 employees or about 13 per cent of its global workforce in November last year. Zuckerberg has called 2023 the “year of efficiency" in an earnings call.

The Facebook spark

Zuckerberg founded Facebook in his dorm room at Harvard in 2004. The original idea for the site was to create a social network that allowed Harvard students to connect with each other online. However, the site quickly gained popularity and expanded to other universities, eventually becoming a global platform with over 2.9 billion monthly active users.

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Zuckerberg's leadership

Mark Zuckerberg has been the CEO of Facebook since its inception. He is known for his entrepreneurial spirit and his determination to build a successful company. Under his leadership, Facebook has grown from a small startup to a global social media giant.

Zuckerberg has also been criticized for Facebook's handling of user data and its role in spreading fake news and misinformation. He has been questioned by Congress and faced backlash from users and advertisers. He has remained committed to improving the platform and addressing the issues.

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