Although Facebook may be under attack for not protecting user privacy, it’s clear that they’re spending a fortune to protect Mark Zuckerberg. The Facebook CEO recently made the news after spending $30 million to purchase the four homes surrounding his property in Palo Alto.
In July of 2018, Facebook approved a $10 million per year, pre-tax filing for costs related to the personal security of Mark Zuckerberg at his residences and during personal travel.
Although the security details of all billionaires are not disclosed, this seems to set the record for the most a company has spent to secure their CEO.
That’s an amazing of $2.7 million since 2017 and a 50% increase from the $4.9 million that was spent on his security in 2016.
In a filing, Facebook explained that, “This allowance will be in addition to the continued funding of Mr. Zuckerberg’s overall security program to cover the costs of security personnel for his protection; the procurement, installation, and maintenance of certain required security measures for his residences; and the usage of private aircraft for personal travel.”
The company also disclosed that they would pay Zuckerberg the allowance, which he can use towards his security detail, equipment, services, residential improvements, and more. Facebook took his “position and importance to Facebook,” as well as his salary, which was only $1 last year, into account.
“The Committee believes that this allowance, together with the costs of Mr. Zuckerberg’s existing overall security program, are appropriate and necessary under the circumstances,” the SEC filing said.
Facebook’s COO, Sheryl Sandberg, also has an authorized security program, which totaled $2.7 million last year.
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