*Who wants to be a millionaire? A better question might be, who doesn’t? Money, lot’s of it, can ease a lot of problems. But it can also cause many more. Just ask Facebook CEO Mark Zuckerberg. The former college computer programming geek-turned-gazillionaire spends millions of dollars in corporate expenses not just to upgrade and update his giant social networking platform, but to keep enough security detail in place to protect him from vultures of the human kind, who continually threatened his life.
Kind of places greater appreciation on the value of life, yes?
Last year alone Facebook’s Annual Report shows $4.3 million dollars was spent on protecting the entrepreneurs life.
According to Fortune.com, the Facebook corporation’s amended annual report — which was published on Wednesday — states Zuckerberg, a billionaire who makes just $1 a year in salary, also spent more than $775,000 on personal usage of a private aircraft; which brings his total “other” compensation for the year to more than $5 million, Facebook FB 0.73% said.
The Fortune article also reports the figure spent on Mr. Z’s security is an extremely high figure in the social networking market, and overall technology industry, and compares the figure to what was spent on Twitter CEO, Jack Dorsey in 2015, which was published earlier this month, as TWTR -0.14%, $68,500.
The article also details a report from the executive compensation tracking agency, Equilar.
Still, the millions spent on Zuckerberg’s protection is much higher than the others. But Facebook stands by its cost, and justifies it this way.
“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,” Facebook says. “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.”
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