Facebook Spent Over $23 Million USD on Mark Zuckerberg's Security in 2020

Citing negative sentiments towards the company in recent events.

By
Tech
15,247 Hypes 7 Comments

In a new filing with the Securities and Exchange Commission (SEC), Facebook has revealed that the company spent more than $23 million USD for CEO Mark Zuckerberg‘s security detail in 2020.

In a proxy statement, the company “identified specific threats to Mr. Zuckerberg” in its annual company security reviews. The proxy further mentions that “he is synonymous with Facebook, and as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg.”

The report showed that due to COVID-19 travel protocols, the cost of Zuckerberg’s security programs and personnel for himself and his family rose to an all-time high in 2020. His security coverage spiked during the 2020 U.S. elections season, reportedly just one of many “other periods with an increased security risk.”

Under the “all other compensation” section in the statement, Facebook disclosed that the $23 million USD spending went towards the CEO’s personal security at his residence and for him and his family’s travel. Zuckerberg allotted an additional $10 million USD towards other security costs, pushing the company’s cost of base security up to $13.4 million USD from 2019’s $10.4 million USD.

The proxy goes on to justify the costs stating, “The compensation, nominating & governance committee believes that these costs are appropriate and necessary in light of the threat landscape and the fact that Mr. Zuckerberg has requested to receive only $1 in annual salary and does not receive any bonus payments, equity awards, or other incentive compensation.”

The company plans to unveil a new proposal that will allow non-employee directors to receive personal security details from time to time at the May 26, 2021 shareholder meeting. In January and February 2021, the company cited the “high level of scrutiny faced by our company and our executive officers and directors, as well as the dynamic and charged atmosphere following the 2020 U.S. elections and the attack on the U.S. Capitol Building on January 6, 2021” for the need for higher security for top execs at Facebook.

In other tech news, Samsung’s “iTest” turns an iPhone into an Android-powered Galaxy device.

Read Full Article

What to Read Next

Mark Zuckerberg Plans to Reduce Political Content on Facebook's News Feed
Tech

Mark Zuckerberg Plans to Reduce Political Content on Facebook's News Feed

But he insists he’s committed to safeguarding “free expression.”

Mark Zuckerberg Reveals New Ways For Instagram Creators to Make Money
Tech

Mark Zuckerberg Reveals New Ways For Instagram Creators to Make Money

Including a native affiliate program and personal merchandising windows.

Mark Zuckerberg Explains Infamous Excessive Face Sunscreen Photo
Tech

Mark Zuckerberg Explains Infamous Excessive Face Sunscreen Photo

Revealing it was a failed attempt to throw off paparazzi.


Was Your Phone Number Leaked in the Facebook Hack?
Tech

Was Your Phone Number Leaked in the Facebook Hack?

Here’s how to check.

Saweetie and Gwen Stefani Take It Back to the 2000s for "Slow Clap" Visual
Music

Saweetie and Gwen Stefani Take It Back to the 2000s for "Slow Clap" Visual

The Icy Girl hops on the remix.

Autodromo Spearheads Group B Series 2 Revival With Retro Tachometer-Inspired Model
Watches

Autodromo Spearheads Group B Series 2 Revival With Retro Tachometer-Inspired Model

With four other colorways for the motorsports fans.

Samsung's "iTest" Turns iPhone Into an Android-Powered Galaxy Device
Tech

Samsung's "iTest" Turns iPhone Into an Android-Powered Galaxy Device

“Sample the other side.”


Kodansha Releases 'Attack on Titan' Final Chapter Cover For Weekly Shōnen Magazine
Entertainment

Kodansha Releases 'Attack on Titan' Final Chapter Cover For Weekly Shōnen Magazine

After 11 years and 7 months of serialization.

Busta Rhymes Announces Deluxe 25th Anniversary Edition of 'The Coming'
Music

Busta Rhymes Announces Deluxe 25th Anniversary Edition of 'The Coming'

The special 36-track version of the rapper’s debut solo album features unreleased instrumentals and remixes.

'Game of Thrones' 10th Anniversary Special Hits HBO Max
Entertainment

'Game of Thrones' 10th Anniversary Special Hits HBO Max

The two, hour-long segments features interviews with Emilia Clarke, Kit Harrington and the rest of the cast.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.