USD22.6 million to keep Mark Zuckerberg and family safe

USD22.6 million to keep Mark Zuckerberg and family safe

MASSACHUSETS: Facebook Inc more than doubled the money it spent on chief executive officer Mark Zuckerberg’s security in 2018 to USD22.6 million, a regulatory filing showed on Friday.

Zuckerberg has drawn a base salary of USD1 for the past three years, and his “other” compensation was listed at USD22.6 million, most of which was for his personal security.

Nearly USD20 million went toward security for Zuckerberg and his family, up from about USD9 million the year prior. Zuckerberg also received USD2.6 million for personal use of private jets, which the company said was part of his overall security program.

Facebook has in the past few years come under fire over its role in Russia’s alleged influence on the 2016 U.S. presidential election and over how Cambridge Analytica obtained personal data from millions of Facebook profiles without consent.

Chief Operating Officer Sheryl Sandberg took home USD23.7 million in 2018 compared to USD25.2 million last year.

Separately, Facebook said Netflix Chief Executive Officer Reed Hastings would vacate his seat on the social media company’s board and not be nominated for re-election.

Hastings’ departure comes as the Menlo Park-based company beefs up its push into videos. Hastings has served on Facebook’s board since 2011.

The company also said it would nominate PayPal’s senior vice president of core markets, Peggy Alford, to its board in place of University of North Carolina President Emeritus Erskine Bowles, who will also not be re-nominated.

Facebook shares closed at USD179.07 Friday evening.

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