Zuckerberg’s security and personal air trips cost Facebook $23.4M

Mark Zuckerberg
Mark Zuckerberg

Facebook spent more than $23 million on security and personal air trip for CEO Mark Zuckerberg in 2019. According to a financial filing published on Friday

That’s up from roughly $20 million spent in 2018 and $9.1 million Facebook spent in 2017. However, Zuckerberg’s annual salary still remains $1

These funds include “approximately $10,463,717” for “costs related expenses. For personal security for Zuckerberg at his home and during his personal travel.”

The expense incorporates an extra $10 million needed to protect him and his family. The previous report has indicated that Facebook spent $9.95 million on personal security in 2018 and $7.5 million in 2017.

The filing also reveals that Zuckerberg required $2.95 million for private airliner expenses. In 2018, he paid $2.59 million for private air travel and $1.52 million in 2017. 

All of the payments are filed under “Other compensation” for Zuckerberg, according to CNBC news.

Meanwhile, Facebook’s chief operating officer Sheryl Sandberg took home a little over $875,000 in core pay, up from $843,000 in 2018. Nevertheless, she received a $902,740 bonus, up from $638,000 in 2018, and $19.67 million in stock awards. She received $18.42 million in stock awards in 2018.

Sandberg also required private security, which cost $4.37 million in 2019, up from $2.9 million in 2018. And her use of a private aeroplane cost Facebook $1.3 million in 2019 versus $908,677 in 2018. The costs include passenger fees, fuel, crew and catering costs reported by a charter company, Facebook said. 

Regardless, in 2019, Facebook reported four straight quarters of sub-30% growth in a row, topping the year off with 24.7% revenue growth during the fourth quarter compared to the same time period in 2018.

Shares of Facebook hit an all-time high on January 29 at $224.20 per share, before declining with the residuum of the market to a new 52-week low on March 18 of $137.10 per share. It closed on Friday at $175.19, CNBC reported.

Source: CNBC