After being increased by $4 million, Meta’s CEO Zuckerberg now has a total security allowance of $14 million
Facebook and Instagram parent Meta on Wednesday announced that the company will be increasing the security allowance given to its founder and CEO Mark Zuckerberg and his family. Following the announcement, Zuckerberg’s security allowance has been increased by $4 million, thus making his total security allowance to be around $14 million.
Justifying the increase in security allowance, Meta said that “This increased allowance, together with the costs of Zuckerberg’s existing overall security program, are appropriate and necessary under the circumstances.”
Zuckerberg, who is currently the 16th richest man on the planet, had to face huge losses as a result of the Meta stock crash, which took place after a company rebrand and refocus towards the Metaverse.
According to financial information released by Meta, Zuckerberg earned a total of $27 million throughout the year 2021. Estimating that the Meta CEO earns around $30 million in 2023, he will be getting a security allowance of almost half his yearly salary.
While security is considerably important and so are its expenses, the internet doesn’t seem too happy with the timing of this security allowance increase. This is because, Meta just months ago, has laid off around 11,000 employees, saying it over-hired during the pandemic.