Meta (NASDAQ: $FB) spent $73K a day to secure Zuckerberg
April 19, 2022 (Investorideas.com Newswire) A StockApps.com data presentation has revealed that in 2021 Meta spent $26.8M on his and his family's security. That expenditure amounted to some $73.4 thousand a day.
StockApps drew its data from Meta's SEC filings in which Facebook's parent company indicated that it had spent $15.2M on Zuckerberg's security. That was beside the $10M pre-tax allowance for his and his family's security. It also spent another $1.6 on his air travels.
Zuckerberg's surging security budget
Zuckerberg's 2021 security budget has been increasing in the past decade. In 2020, the firm spent $25M protecting its founder and Chief Executive. Before that, it had spent $23M for the same cause.
"Mark Zuckerberg is one of the most well-known and highly scrutinized individuals in the world," stated StockApps' Edith Reads. She added, “Masses are watching and analyzing his every move. So it isn't a surprise that he has some of the most intense security measures in place."
Meta linked its increased expenditure on Zuckerberg's security to the strong negative sentiment he may draw to himself. The company stated that the CEO often shoulders the strong disapproval that his firm attracts sometimes.
Thus there was a justification for the 6% increase in that vote head.
How does Meta's security spending compare to other tech execs?
Besides the CEO and his family, Meta also caters for the security of its top brass. Its COO, Sheryl Sandberg, has a security allocation of nearly $9M. Moreover, she draws from a $2.3M kitty for private air travel.
The two Facebook senior figures' security budgets dwarf those of other prominent industry heads. For instance, Google's Sundar Pichai's security kitty isn't even half of Sandberg's allocation, and Mark's security spending is about 14 times more than Amazon's Jeff Bezos.
The full story and statistics can be found here: Meta spent $73K a day to secure Zuckerberg
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