Abu Dhabi, UAETuesday 25 February 2020

Facebook's Zuckerberg pay doubled in 2018 on higher personal security costs

Facebook COO Sheryl Sandberg was paid more than Zuckerberg last year

Mark Zuckerberg, chief executive officer and founder of Facebook. Photographer: David Paul Morris/Bloomberg
Mark Zuckerberg, chief executive officer and founder of Facebook. Photographer: David Paul Morris/Bloomberg

Facebook chief executive and founder Mark Zuckerberg's compensation more than doubled last year to cover the cost of personal security amid "negative sentiment" surrounding the social network company.

Mr Zuckerberg's compensation rose to to $22.5 million (Dh82.6m) in 2018 from $9.1m, according to a company filing to the US Security and Exchange Commission on Friday.

His reported compensation includes about $10m related to personal security costs at his residences and during personal travel, up from $7.6m in 2017.

His pay also includes an additional $10m annual pre-tax allowance to cover additional costs related to Mr Zuckerberg and his family’s personal security.

"Because of the high visibility of our company, our compensation and governance committee has authorised an 'overall security programme' for Mr Zuckerberg to address safety concerns due to specific threats to his safety arising directly as a result of his position as our founder, CEO, chairman, and controlling stockholder," the company said in the filing ahead of its annual shareholder meeting scheduled May 30.

The heightened security measures come as Facebook faces increasing criticism from the public and regulators following the Cambridge Analytica scandal over user privacy concerns, and fears it is not doing enough to curb the spread of harmful content and misinformation on its apps.

In contrast, Amazon founder and chief executive Jeff Bezos received $1.6m to cover his security arrangements in 2018, while Uber chief executive Dara Khosrowshahi got just over $2m, according to regulatory filings.

Facebook's chief operating officer Sheryl Sandberg’s 2018 total compensation exceeded Mr Zuckerberg's pay, reaching $23.7m compared with $25.2m the year before.

Facebook said the median of all its employees' annual total compensation, other than the chief executive, was $228,651, making it the top-paying employer among listed tech companies.

Updated: April 15, 2019 03:17 AM



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