Is Facebook CEO Mark Zuckerberg's base salary only Rs 83?

By Team Asianet Newsable | First Published Apr 28, 2024, 1:29 PM IST

Meta CEO Mark Zuckerberg took home a salary of just $1 in 2023, the lowest among all Meta employees. However, he received about $24.4 million in other compensation, primarily covering security costs.

Mark Zuckerberg, Meta's founder and CEO, is the company's lowest-paid employee on paper. According to the reports, Zuckerberg had a basic income of $1 (Rs 83) in 2023. This number may appear silly to many because, according to Fortune Business magazine, it is much less than the median compensation of a Meta employee.

The median salary is around $379,000 (approximately Rs 3 crore). Base salary is the fixed amount an employee must be paid for their work as agreed upon during the hiring process. The median wage is the midpoint amount among all the salaries analyzed.

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However, $1 (Rs 83) is only a starting point because Zuckerberg is entitled to significant sums of money under 'other remuneration' as well. The additional pay totals a startling $24.4 million (Rs 20 crore).

According to a Fortune report, the Meta founder's security expenditures account for a significant chunk of his 'other income'. The report revealed that in 2023, Meta increased his security pre-tax allowance by 40 per cent from $10 million (Rs 83.39 crores) in 2018 to approximately $14 million (almost Rs 320 crores).

However, Meta's pledge to a "year of efficiency" resulted in modest cutbacks in security spending. In 2022, he spent $14.8 million (Rs 323 crores) on security, but in 2023, the expenditure fell to roughly $9.4 million (Rs 78 crore).

Another significant component of this pay was allocated to expenses associated with private aircraft use, totaling over $1 million (Rs 8.24 crore).

These firm incentives allowed Meta CEO Mark surpass Elon Musk to become the world's third-richest person, according to Bloomberg's Billionaire Index rating. Zuckerberg and Musk have a net worth of $186.9 billion (Rs 1,550 crores) and $180.6 billion (Rs 1,500 crores), respectively.

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