Meta solely paid Mark Zuckerberg $1 final 12 months, and the board not too long ago voted to do the identical in 2022.
That single Zuck Buck could function a speaking level, a token of humility, however that’s hardly the complete compensation story. As is the case with many execs the technique hinges on beneficiant allowances as a substitute of earnings, as seen in Meta’s 2021 proxy assertion.
For the majority of his private wealth, Zuckerberg can flip to his roughly 13 p.c stake in Meta, which makes him one of many richest folks on this planet. According to the Bloomberg Billionaires Index, Zuckerberg at present sits in thirteenth place with a fortune price $79.5 billion.
A fast have a look at the Meta proxy assertion reveals how a lot Zuck makes in “all other compensation”: $26,823,016.
There have been no bonus or inventory awards given to Zuckerberg in 2019, 2020, or 2021, however that “other” quantity elevated by practically $2 million annually. The bulk of this goes to pay for the Zuckerberg household’s safety at dwelling and whereas touring, even for private causes.
Zuckerberg is Meta
Zuckerberg and COO Cheryl Sandberg each get an allowance for private and household safety, which Meta stated is important to deal with particular threats to their security. “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,” the proxy assertion stated.
Zuckerberg is within the distinctive place, Meta stated, of being synonymous with the corporate due to the scale of its consumer base and its continued presence due to less-than-positive authorized and media consideration. “As a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr Zuckerberg.”
Facebook misplaced practically $100 a share in early February due to experiences of dipping consumer numbers triggered by elevated competitors, iOS privateness adjustments and reducing curiosity. Since then, the corporate’s valuation has but to return to the place it was at the start of 2022.
Of the practically $27 million that Zuckerberg constructed from Meta in 2021, the majority comes from “personal security for Mr Zuckerberg at his residences and during personal travel,” which value Meta $15,195,103 final 12 months. An further $1,627,957 allowance went towards prices related to Zuckerberg’s non-public jet, which wants hangar area, pilots and crew, gasoline, catering and extra.
As for which chores Zuck did to earn the opposite $10 million, Meta did not point out it. ®