Mark Zuckerberg, the omnipresent face of Meta (formerly Facebook), might be the company’s lowest-paid employee on paper. With a base salary of a measly $1, he makes significantly less than the median Meta employee’s salary of a cool $379,000. But hold your horses because there’s more to this story than meets the eye.
Zuck’s Salary: $1. Security bill: $9.4M
The real story lies in “other compensation.” Meta’s recent proxy filing reveals Mark Zuckerberg raked in a staggering $24.4 million in 2023 under this category. Buckle up because a large chunk of this goes towards keeping the tech titan safe.
Security concerns are a major expense with Zuckerberg’s security pre-tax allowance jumping 40% in recent years. While Meta emphasizes spending cuts, Zuckerberg’s overall security spending dropped only slightly from $14.8 million in 2022 to $9.4 million in 2023.
Another million goes towards private jet usage – a perk justified by Meta, citing the unique threats Zuckerberg faces due to his high profile. Don’t forget, he’s the face of a company with over 4 billion users – that’s a lot of potential scrutiny.
Also read: Mark Zuckerberg Likely To Partner With Mukesh Ambani To Establish First Data Center In India
This low salary, high “other compensation” strategy isn’t new. Elon Musk, Larry Page, and Steve Jobs are all members of the “one-dollar club” when it comes to base salary. However, Zuckerberg’s hefty security bill highlights the complex realities faced by tech CEOs in today’s world. Leading a tech giant comes with a hefty price tag, not just in terms of stock options but also in terms of personal safety.
While Zuckerberg’s wealth is primarily fueled by his massive ownership stake in Meta (estimated at $158.7 billion), his pay package raises interesting questions about executive compensation and the evolving role of security in the digital age.
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