Mark Zuckerberg may have a mixed record on how secure he keeps Facebook users’ data but when it comes to his own security, money appears no object.
A financial filing from Facebook has revealed it paid its chief executive $23.4 million (£17 million) for security at home and when travelling, due to the “identified specific threats”. The Facebook co-founder received a pre-tax allowance of $13.4 million for security last year, up from $10.4 million in 2019, while $10 million was assigned to cover “additional costs related to Mr Zuckerberg and his family’s security”.
Another $1.8 million was spent on jet costs for Zuckerberg, 36, which Facebook said was part of the security programme. Facebook said the costs were necessary due to his “unique position” as “one of the most recognized executives in the world”. It said he was “synonymous with Facebook and, as a result, negative sentiment regarding our company is directly associated with Mr Zuckerberg”.
The social media giant said the rise in costs was due to security protocols during the pandemic, an increase in personal protection during the US elections and the rising cost of bodyguards.
Zuckerberg, the world’s fifth-richest person, worth $118 billion according to Bloomberg Billionaires’ Index, receives $1 in annual salary from Facebook and no bonus or share awards. The bulk of his fortune comes from his 13 per cent stake in Facebook, which has a market value of $889 billion.
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In 2019 Business Insider reported that Zuckerberg had armed officers outside his home 24 hours a day, a team that sweeps anywhere he goes to beforehand and bullet-resistant office windows.
In 2018 it was revealed that the data of up to 87 million Facebook users had been collected without permission by Cambridge Analytica, the research agency. Facebook has also faced criticism for failing to curb hate speech.