Facebook CEO's compensation jumps to $8.9 million as security costs soar

Facebook CEO's compensation jumps to $8.9 million as security costs soar

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(Reuters) – Fb Inc (FB.O) Chief Government Mark Zuckerberg’s compensation rose 53.5 p.c to $eight.9 million in 2017, a regulatory submitting confirmed on Friday, largely resulting from larger prices associated to the 33-year previous billionaire’s private safety.

FILE PHOTO: Fb CEO Mark Zuckerberg testifies earlier than a Home Vitality and Commerce Committee listening to concerning the corporate’s use and safety of person knowledge on Capitol Hill in Washington, U.S., April 11, 2018. REUTERS/Aaron P. Bernstein

About 83 p.c of the compensation represented security-related bills, whereas many of the relaxation had been tied to Zuckerberg’s private utilization of personal plane.

Zuckerberg spent a lot of final 12 months touring after he pledged to go to all of the U.S. states that he had not beforehand been to.

His safety bills climbed to $7.three million in 2017 from $four.9 million a 12 months earlier.

Menlo Park, California-based Fb paid to purchase, set up and preserve safety measures for Zuckerberg’s private residences, which embody properties in San Francisco and Palo Alto, the submitting confirmed.

The Fb board’s compensation committee licensed Zuckerberg’s safety program, the submitting stated, “to deal with security considerations resulting from particular threats to his security arising instantly on account of his place as our founder, Chairman, and CEO.”

Zuckerberg’s base wage was unchanged at $1, whereas his whole voting energy at Fb rose marginally to 59.9 p.c.

Fb, which has constantly reported stronger-than-expected earnings over the previous two years, has confronted public outcry over its function in Russia’s alleged affect over the 2016 U.S. presidential election.

Earlier this week, Zuckerberg emerged largely unscathed after going through hours of questioning from U.S. lawmakers on how the private data of a number of million Fb customers might need been improperly shared with political consultancy Cambridge Analytica.

Reporting by Munsif Vengattil in Bengaluru and David Ingram in San Francisco; Enhancing by Sai Sachin Ravikumar and Richard Chang

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