Home » Business News » Meta CEO Mark Zuckerberg receives $26m in ‘other’ compensation

Meta CEO Mark Zuckerberg receives $26m in ‘other’ compensation

By Nithya Bose in Business News, posted April 13, 2022

Mark Zuckerberg has been paid a total of $26,823,016 from "other" Meta compensation.

Last year, the Meta CEO received a one-time payout of one dollar, and the board has agreed to do the same in 2022.

This is the case for many executives since the approach is based on hefty allowances rather than salary.

Zuckerberg can rely on his nearly 13 percent share in Meta for the majority of his personal wealth, making him one of the world's wealthiest people.

Although there were no bonuses or stock awards awarded to Zuckerberg in 2019, 2020, or 2021, the "other" figure climbed by roughly $2 million each year.

The greater part of this money is used to ensure Zuckerberg family's security at home and while abroad, even for personal reasons.

The proxy statement said: "We require these security measures for the company's benefit because of the importance of Mr. Zuckerberg and Ms. Sandberg to Meta, and we believe that the scope and costs of these security programs are appropriate and necessary."

Because of the scale of its user base and its sustained presence despite negative legal and media attention, Zuckerberg is in the unique position of being synonymous with the firm.

In early February, Facebook lost about $100 per share as a result of rumors of declining user numbers caused by greater competition, iOS privacy improvements, and declining engagement.

The company's valuation has yet to recover to where it was at the start of 2022.

Source: The Register

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