Facebook spent close to $9 million on security and private jets for Zuckerberg in 2017

Facebook spent $8.9 million on CEO Mark Zuckerberg’s personal travel and security expenses in 2017. 
– Aside from his personal security program, Zuckerberg received a $1 salary in 2017, without bonuses or stock awards.
Facebook spent close to $9 million on security and private jets for Zuckerberg in 2017

Facebook CEO Mark Zuckerberg only made a salary of $1 in 2017, but his company spent close to $9 million for his personal security and use of private jets.

According to a proxy statement released on Friday, Zuckerberg’s “other compensation” jumped 53 percent last year from 2016 to $8.9 million. That figure includes $7.3 million for security at his home and during travel and $1.5 million “for costs related to personal usage of private aircraft.”

“Because of the high visibility of our company, our compensation & 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, Chairman, and CEO,” the filing said.

Read: Zuckerberg’s testimony raises new questions about Facebook’s lobbying practices

Zuckerberg is sometimes accompanied by others when traveling by private aircraft.

COO Sheryl Sandberg also has an authorized security program, according to the filing. Sandberg’s “other compensation” amounted to $2.7 million last year.

“We require these security measures for the company’s benefit because of the importance of Ms. Sandberg to Facebook,” the filing said.

Zuckerberg received a salary of just $1 last year, without bonuses or stock awards. Not that he needs the money. The Facebook co-founder owns shares in the social network valued at about $66 billion.

Source: CNBC

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