Facebook spent $23M on Mark Zuckerberg’s security in 2020.
By Thomas Barrabi | FOX Business
Facebook spent more than $23 million on security for CEO and founder Mark Zuckerberg during its 2020 fiscal year, the social media giant disclosed in an annual proxy filing on Friday.
The security costs comprised most of the $25 million Zuckerberg received in various forms of compensation last year. Facebook spent more than $13.4 million on “personal security for Mr. Zuckerberg at his residences and during personal travel. Zuckerberg also received $10 million pre-tax allowance to cover additional security equipment and personnel for his family.
The security costs rose slightly compared to 2019, when Facebook spent about $10.4 million as well as his $10 million allowance. Facebook said Zuckerberg is in a “unique position” because “negative sentiment regarding our company is directly associated” with him.
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“Increased costs in 2020 were primarily due to regular personal travel, costs relating to security protocols during the COVID-19 pandemic, increased security coverage during the 2020 U.S. elections and other periods with increased security risk, and market increases in the costs of security personnel,” the filing said.