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Facebook spent more than $7 million to protect CEO Mark Zuckerberg in 2017, according to Securities and Exchange Commission filings, potentially showing growing concerns of the company leader’s safety.
Zuckerberg’s security costs are way higher than others in the industry, and went up from the roughly $4,890,000 spent in 2016. Amazon, for example, paid $1.6 million to secure CEO Jeff Bezos in 2016, virtually the same as 2015.
Visibility - Company - Compensation - Governance - Committee
“Because of the high visibility of our company, our compensation & governance committee has authorized an ‘overall security program’ for Mr. Zuckerberg to address safety concerns due to specific threats to his safety arising directly as a result of his position as our founder, Chairman, and CEO,” the SEC report reads. “We require these security measures for the company’s benefit because of the importance of Mr. Zuckerberg to Facebook, and we believe that the costs of this overall security program are appropriate and necessary.”
Such official payments contribute to safety measures and installations for Zuckerberg’s personal residences. The corporate leader’s personal jet travel is also part of his security agenda, costing $1.5 million in 2017 and thus amounting to around $8.9 million in total. With the prior three years’ worth of expenses combined, Facebook spent approximately $20 million on security and travel for Zuckerberg.
While it’s not perfectly clear what caused this...
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