Meta spent $2.3 million on Mark Zuckerberg's private jet flights, security: Report
Meta paid CEO Mark Zuckerberg some $2.3 million in 2022 for his personal private jet trips. Overall, Meta spent more than $27.1 million last year on what it called "all other compensation" for Zuckerberg, an amount that encompasses a range of security-related costs, according to the filing.
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FollowMeta, the parent company of Facebook, Instagram and Whatsapp, paid CEO Mark Zuckerberg nearly $2.3 million in 2022 for his personal private jet travel. According to Meta, Zuckerberg received $27.1 million in so-called "all other compensation" in 2023, which included $14.8 million for what the business said as "costs related to personal security" at his residences and while he was travelling.
Zuckerberg's base income is $1 per year. According to Meta, it had "identified specific threats to Zuckerberg as a result of the high-profile nature of [being] our founder, CEO, Chair, and controlling shareholder" in its submission.
According to the New York Post, Zuckerberg's private aircraft bill was $700,000 higher than Meta's $1.6 million in 2021 and $1.8 million in 2020.
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A Meta spokesperson said, "Maintaining Mark's safety while allowing him to go about his life with minimal disruption requires comprehensive and sophisticated resources. Given the importance of Mark's work at Meta, we have put in place security measures that are in the best interests of the firm."
Meanwhile, Zuckerberg's lavish spending comes on the heels of revelations of Meta's latest wave of layoffs. The business announced another wave of layoffs on Wednesday, this time affecting engineers and neighbouring IT teams.
Notably, Meta was the first big tech company to announce a second round of huge layoffs in March, which it predicted would occur in three major batches over many months and affect 10,000 people.
Meta's initial round of layoffs in the fall affected almost 11,000 people, or 13% of its staff at the time, and came on the heels of other large tech businesses laying off thousands of workers following a pandemic-led boom in digital advertising and cloud computing.
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