Meta reveals the mind-boggling costs of Mark Zuckerberg’s private jet
- Meta spends eight figures every on something known as ‘other compensation’.
- Most of the budget is allocated towards Zuckerberg’s security.
- The CEO earns a symbolic salary.
Published on Oct 27, 2023 at 12:17 PM (UTC+4)
by Alessandro Renesis
Last updated on Oct 30, 2023 at 2:29 PM (UTC+4)
Edited by
Adam Gray
Like other billionaire CEOs, Mark Zuckerberg earns a symbolic salary of just $1.
However, his company Meta spent a whopping amount on expenses marked as ‘other compensation’.
And you’ll be shocked to hear what that is.
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Meta is a public company, which means it has to disclose certain costs and expenses.
In the proxy statement the company sent to the Securities and Exchange Commission (SEC), Meta spent $27.1 million last year on what the company refers to as ‘other compensation’.
It all has to do with expenses sustained by Zuck while running the company.
It’s a significant amount and it includes his travel expenses and security.
For starters, Zuck spent $2.3 million to use his private jet last year.
And that’s not all.
In addition to that, the company also allocated $10 million on Zuckerberg’s ‘pre-tax security allowance’.
In other words, the company has to spend eight figures a year on Zuckerberg’s security costs, including for example bodyguards and drivers.
And that number is going to go up.
As part of the filing, Meta announced it would be increasing the allowance to $14 million next year because it deems it “necessary in light of the threat landscape”, according to what Meta wrote in the note to the SEC.
Zuckerberg’s net worth nosedived when he announced Facebook’s rebranding to Meta, and the company stock hasn’t fully recovered yet.
Even so, Mark Zuckerberg still has a 12-figure net worth.
Yep, 12 figures, as in, $109 billion.
This is hardly surprisingly, though.
Since the start of the year, the world’s 500 richest people have collectively added nearly $1 trillion to their fortune.
Alessandro is an automotive journalist with 10 years of experience covering supercars, automotive history, emerging vehicle technology, and luxury transportation. He wrote the first article published on SupercarBlondie.com when the website launched in 2022 and has since built a reputation for insightful reporting across the automotive and transportation industries. His expertise is grounded in hands-on experience. Alessandro has driven every Tesla model ever produced, from the original Roadster to the Cybertruck, and regularly covers the latest developments in electric vehicles and automotive innovation. His passion for transportation extends beyond cars, he has even flown a Boeing 787 Dreamliner simulator in Addis Ababa, Ethiopia. His reporting spans everything from classic American muscle cars and rare automotive discoveries to luxury yachts, private aircraft, high-end watches, and cutting-edge vehicle technology. Known for his deep knowledge of automotive history and ability to uncover the stories behind iconic vehicles, Alessandro brings readers a blend of historical context, technical expertise, and first-hand experience.
