Facebook, Instagram, and Whatsapp’s parent company, Meta, paid CEO Mark Zuckerberg about $2.3 million in 2022 for his personal private jet travel. In the company’s 2023 SEC filings, Meta said that Zuckerberg received $27.1 million in so-called “all other compensation” in 2023, which included $14.8 million for what the business said as “costs related to personal security” at his residences and while he was travelling. Zuckerberg’s base income is $1 per year.
According to Meta, it had “identified specific threats to Zuckerberg as a result of the high-profile nature of [being] our founder, CEO, Chair, and controlling shareholder” in its filing.
“We believe that Mr. Zuckerberg’s role puts him in a unique position: he is synonymous with Meta and, as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg,” it added.
Media reports claim that Zuckerberg’s private jet cost was $700,000 higher than the $1.6 million paid out by Meta in 2021, and nearly $1.8 million paid out in 2020.
A Meta spokesperson said: “Maintaining Mark’s safety while enabling him to go about his life with minimal disruption requires comprehensive and sophisticated resources. Given the important role Mark plays at Meta, we have security measures in place for him that are in the best interest of the company”.
In the meantime, news of a new round of job cuts at Meta was followed by Zuckerberg’s extravagant budget. The company conducted another wave of layoffs on Wednesday, this time affecting engineering teams and related technical staff.
Notably, in March, Meta announced a second round of mass layoffs, claiming that 10,000 employees would be affected and that it was the first Big Tech company to do so.
After a pandemic-driven boom in digital advertising and cloud computing, Meta’s first round of layoffs in the fall affected more than 11,000 employees, or 13% of its workforce at the time, and occurred before other significant IT companies laid off thousands of employees.
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