It’s not easy to be at the helm of one of the most valuable companies in the world, and it doesn’t come cheap.
For Mark Zuckerberg, the bill to keep himself and his family safe, as well as private jet costs for travel, came to just under $27 million in 2021, according to a filing with the Securities and Exchange Commission (SEC).
The $26.8 million Meta spent on security and travel details for the tech billionaire is a jump from previous years, when in 2020 it was $25.2 million and for 2019 it was $23.4 million.
The filing does not detail the exact breakdown of what security entails for Mr. Zuckerberg and his family, which would include protecting his wife, Priscilla Chan, and their two children, Maxima, 6, and August 5.
He notes, however, that $15.1 million of the nearly $27 million was spent on the Facebook founder’s personal security both at his residences and during periods of personal travel.
An additional annual pre-tax allowance of $10 million was used to cover additional security costs for the personal safety of Mr. Zuckerberg’s family.
The remaining funds, about $1.6 million, were “related to personal use of private aircraft,” the filing notes.
In particular, Mr. Zuckerberg’s personal travel expenses have declined slightly in recent years, the filing reports. In 2020, it totaled $1.8 million while in 2019, it soared to $2.9 million.
The company details the reasoning around Chief Meta’s security compensation package as being necessary due to the “high visibility of our business” and that its establishment is intended to “address security concerns due to specific threats to [Mr Zuckerberg’s and Sheryl Sandberg’s] security,” which they say grew out of their very public positions as CEO and COO, respectively.
“We believe the scope and costs of these security programs are appropriate and necessary,” the report continues.
“We believe that Mr. Zuckerberg’s role places him in a unique position: he is synonymous with Meta and therefore negative sentiment towards our company is directly associated with, and often transferred to, Mr. Zuckerberg. .”
Chief Meta is what the report describes as “one of the most recognized executives in the world”, stating that this is “largely due to the size of our user base and our continued exposure to global media, legislative, and regulatory attention”.
Compared to other big tech companies, Meta’s personal security spending for its CEO eclipses its rivals.
For example, Amazon, a company ranked as the fifth most valuable company in the world by market capitalization, according to companiesmarketcap.comspends about $1.6 million a year — the same amount Zuckerberg used in 2021 for personal travel — to keep Jeff Bezos safe, The daily beast reported.
And Apple spent just $310,000 on CEO Tim Cook’s personal security, despite being the world’s most valuable company by market capitalization, ranking atop a group of six industry giants. technology valued at over $1 trillion.