scorecardMark Zuckerberg upped his spending on private jet travel last year
  1. Home
  2. tech
  3. news
  4. Mark Zuckerberg upped his spending on private jet travel last year

Mark Zuckerberg upped his spending on private jet travel last year

Sindhu Sundar   

Mark Zuckerberg upped his spending on private jet travel last year
Tech2 min read
  • Meta paid CEO Mark Zuckerberg some $2.3 million in 2022 for his personal private jet trips.
  • It was an increase from earlier years of the COVID-19 pandemic that saw travel disruptions.

Meta paid CEO Mark Zuckerberg nearly $2.3 million in 2022 for his personal private jet travel, up from prior years of the COVID-19 pandemic.

That's higher than the roughly $1.6 million that Meta spent on such trips for him in 2021, and the roughly $1.8 million in 2020, according to the company's 2023 proxy statement filed on Friday.

Overall, Meta spent more than $27.1 million last year on what it called "all other compensation" for Zuckerberg, an amount that encompasses a range of security-related costs, according to the filing.

"Maintaining Mark's safety while enabling him to go about his life with minimal disruption requires comprehensive and sophisticated resources," a representative for Meta told Insider in a statement on Monday.

"Given the important role Mark plays at Meta, we have security measures in place for him that are in the best interest of the company," the representative said.

Meta has said it covers Zuckerberg's security expenses, including staff and certain security infrastructure costs at his homes.

Besides the personal private jet travel costs, Zuckerberg's overall compensation figure last year also included some $14.8 million for security at his homes and during his travels — a little less than the roughly $15.2 million that Meta spent on that in 2021.

Zuckerberg's overall compensation figures in recent years have also included a $10 million pre-tax allowance for further measures to safeguard himself and his family, according to its 2023 proxy filing. In February, Meta bumped up that allowance to $14 million.

While Zuckerberg continues to draw a $1 annual base pay and doesn't receive annual bonuses, Meta's SEC filings indicate that certain security and travel costs have trended up over the years.

Meta spent the most on his personal private jet use in 2019, paying nearly $3 million for it that year, according to a review of Meta's proxy statement filings since 2013. That includes costs like fuel and catering, according to Meta's filings.

In its 2023 proxy statement, the company said it had "identified specific threats to Mr. Zuckerberg as a result of the high-profile nature of being our founder, CEO, Chair, and controlling shareholder."

"We believe that Mr. Zuckerberg's role puts him in a unique position: he is synonymous with Meta and, as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg," the company said in the filing.




Advertisement