Meta CEO Mark Zuckerberg’s salary for 2023 stood at a mere $1, the lowest among all Meta employees. However, he received approximately $24.4 million in additional compensation, primarily allocated for covering security expenses.
Specific details regarding the precise amount allocated for his security were not disclosed, but Meta augmented its security budget for him to $14 million in 2023, an increase from $10 million in the preceding years.
Zuckerberg’s pre-tax security allowance saw a 40% rise compared to 2018. This adjustment followed a year of cost reductions for Meta, during which approximately 11,000 employees were laid off.
Meta indicated that Zuckerberg could utilize the expanded allowance for various safety-related necessities, including “additional personnel, equipment, services, and residential improvement,” according to the NY Post.
A segment of Mark Zuckerberg’s $24.4 million compensation in 2023 was designated for expenses related to his private jet, as reported by Fortune.
The 39-year-old purportedly opted to maintain his salary at $1 and declined participation in Meta’s Bonus Plan or receipt of any equity awards.
Despite receiving a nominal salary of $1 since 2013, Zuckerberg’s wealth has surged by over $47 billion this year alone.
According to Forbes, he currently ranks as the fourth wealthiest individual globally, boasting a net worth of $155 billion, trailing behind Bernard Arnault, Elon Musk, and Jeff Bezos.
Meta records surge in profits
Meta, the parent company of Facebook, recently announced a significant increase in quarterly profits.
The company disclosed that net profit for the January–March period soared to $12.4 billion, while total revenue, primarily generated from advertising sales, experienced an impressive 27% surge, reaching $36.5 billion.
“We estimate that more than 3.2 billion people use at least one of our apps each day and we’re seeing healthy growth in the US,” Zuckerberg told analysts on an investor call.
Meta said its global workforce now stood at 69,329, slightly more than last quarter, but down from a peak of more than 87,000 employees in 2022.
