Meta, previously known as Facebook, confirms it spends millions on security for Mark Zuckerberg and COO Sheryl Sandberg.
The company released a statement claiming security costs reached $26.8 million in 2021, six percent more than the previous year.
Meta said the spike in expenses was primarily due to private travel, safety protocols due to the Covid-19 pandemic, and increased market prices for protection personnel.
The program also funds the purchase, installation, and maintenance of security systems for Zuckerberg’s private homes, in addition to a $10 million per year personal allowance for security beyond what the company offers. The funding goes towards additional personnel, equipment, services, property improvements, and more.
Meta also finances all private travel for Zuckerberg and his security personnel, totaling $1.6 million last year. The company explained these costs are necessary due to Zuckerberg being “synonymous” with the company.
Zuckerberg chose security over salary. The CEO only takes a one-dollar annual wage from the company and has opted out of all bonus programs.
Zuckerberg’s security costs are far greater than other prominent executives. For example, Amazon spent $1.6 million protecting Chairman Jeff Bezos in 2021, while Tesla hasn’t disclosed any security costs for protecting CEO Elon Musk.