For Mark Zuckerberg’s Security Facebook will spend $10M

For Mark Zuckerberg’s Security Facebook will spend $10M

Yesterday social network filed the report with the SEC that disclosed security allowance of CEO Mark Zuckerberg. As he is allotted $10 million, all extra trips to show to Congress this year must take their toll. He is being given more safety allowance compared to $7.3 million of last year. Being a billionaire himself, he doesn’t use his money for paying his private jet costs. Filing states,

It covers costs for the protection of his security personnel; installation, procurement, and maintenance of required safety measures for residences; and usage of any private aircraft for his personal travel.

He’s among top twenty billionaires with the net worth of over $71 billion, but he lost around $15.4 billion in a day and he is worth just $65 billion now. The Committee believes this allowance, with the expenses of Zuckerberg’s current overall security plan, is essential and appropriate under such circumstances,’ filing said.

Related Post: Mark Zuckerberg loses $16 Billion in a single day as Facebook Stock Drops 20 percent

Zuckerberg’s net worth is valued at over $74 billion, and dropping him at the 5th richest person of the world.

Comparing this to Jeff Bezos, CEO of Amazon, whose company spends over 1.6 million dollars on his personal security, the spending on Zuckerberg personal security is the vast amount.

Here are security allowances of some top CEOs

  • Tim Cook, CEO of Apple (2017) over $318,000
  • Jack Dorsey and Dick Costolo, CEO of Twitter (2016) over $68,506 and $43,424
  • Evan Spiegel, CEO of Snap (2017) over $890,000

Bezos took home the salary of over $81,840 unlike Zuckerberg, thus it makes sense to ignore the math. Also, whether spending 2 or 10 million, neither company gets close to the amount that taxpayers spend on President Donald Trump over $120 million.

Photo: Fortune


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