In comparison with the past year, the expenditure of Facebook CEO Mark Zuckerberg’ security has gone way more expensive. As per the reports of regulatory filling for the United States, Security and Exchange Commission, the chief executive officer of world’s biggest social media platform takes $7.3 million in the year 2017, in comparison with $4.9 million in the past year. This is indeed a significant boost in budget.
However, the board members of this popular social media platform were not having any issue with this hike in security expense of their CEO, Mark Zuckerberg. In fact, the compensation committee of the board acknowledged Zuckerberg’s security arrangement, and hence the expenditure, as they had to address certain safety aspects associated with specific concerns regarding the safety of the CEO. As per their official statement, they had to acknowledge the expense because, they had 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” and that the jump in costs “are appropriate and necessary.”
Some of the added segments of security aspects are the reasons that the expense has increased such significantly. Especially, the costs of purchase, installation, and maintenance of the Facebook CEO’s personal residence have increased the budget so much. These purchase, installations and maintenances have to be made for the residences of Zuckerberg in San Francisco and Palo Alto.
Apart from this, special security arrangements have been done for the personal usage of private aircraft by the CEO. Security installations of same level have been maintained here with the aircrafts as well. Security expenditures of the Facebook CEO constitute around 83% of his overall compensation package. Through the process, this overall package has increased by more than 50% in comparison with the year 2017. Interesting here is to mention that Zuckerberg’s base salary is still stuck at $1.
Zuckerberg indeed is going through one of the toughest phases of his life. He has recently given a testimony of around 10 hours in recent past only, regarding how data from millions of Facebook users might have been illegally shared among the political agent Cambridge Analytica. He was asked various questions regarding this. However, it is true that Zuckerberg has remained mostly unharmed by the unusual outing and has even enhanced the market worth of the company by 24 billion dollars powered by his performance.