Mark Zuckerberg's personal security allowance just increased by $4 million despite Meta's 'efficiency' push
- The Meta founder and CEO just received a large increase to a pre-tax allowance for security costs.
- Last year, Zuckerberg spent over $25 million on personal security, all of which was covered by Meta.
Mark Zuckerberg received a sizable increase to the annual allowance he receives from Meta to fund his personal security.
The annual, pre-tax allowance Zuckerberg gets to cover his security costs was just increased to $14 million from $10 million, according to a disclosure with the Securities and Exchange Commission. The 40% increase was approved last week by the board of directors at Meta, previously known as Facebook.
The last time Zuckerberg's security allowance went up was in 2018. The board decided it was due for another increase this year after considering the founder and CEO's "position and importance to Meta," and the fact that he only receives an annual salary of $1. However, as founder of Facebook with a controlling stake in the company, Zuckerberg's net worth is estimated to be around $64 billion.
Even with the increase, it is likely that Zuckerberg will spend much more than $14 million this year on security. His total security costs exceeded $23 million in 2020 and $25 million in 2021, the most recent years that Meta has disclosed the total costs. The difference in his approved allowance and overall cost is also covered by the company, according to financial disclosures, as it is considered "other compensation."
The bump to the security allowance comes shortly after Zuckerberg declared 2023 to be Meta's "year of efficiency" as the company goes about streamlining projects and its organizational structure. Another round of layoffs at the company is expected in the coming weeks, as Insider previously reported.
Leaders of major companies often travel with personal security as they and their families can be on the receiving end of threats or followed by paparazzi and aggressive fans. Jeff Bezos, Marc Benioff, Larry Ellison, Elon Musk and other well-known founders and executives attribute millions of dollars in security costs to their companies. Zuckerberg, however, racks up the highest price of them all.
Are you a Meta employee or someone else with insight to share? Contact Kali Hays at khays@insider.com, on secure messaging app Signal at 949-280-0267, or through Twitter DM at @hayskali. Reach out using a non-work device.