Social media monster Facebook Spent approximately $ 23 million on the safety of its CEO Mark Zuckerberg in 2020 according to a proxy statement to the US Securities and Exchange Commission.
According to a statement, Facebook’s annual security reviews identified “specific threats to Mr. Zuckerberg.” The cost of protecting Zuckerberg and his family has increased over the past year. The main reason for this was the COVID-19 travel logs due to the spread of the pandemic, the 2020 US elections and “other periods of increased security risk”. In addition, the cost of hiring and other expenses for security personnel also increased.
The $ 23 million the company spends on the security of Zuckerberg includes the safety of his family, homes, travel, etc. Zuckerberg received an additional $ 10 million for security guards and other security related expenses. The base security cost increased to $ 13.4 million in 2020 from $ 10.4 million in 2019.
“The Compensation, Nominating & Governance Committee believes that these costs are reasonable and necessary given the threat landscape and the fact that Mr. Zuckerberg only applied for an annual salary of $ 1 and does not receive bonuses, stock awards or any other incentive compensation,” added the explanation added.