Mark Zuckerberg is the 16th richest person on the Forbes billionaires list. (File)
Meta Platforms Inc said Wednesday it had increased the security allowance for Chief Executive and co-founder Mark Zuckerberg and his family by $4 million to $14 million.
“This increased allowance, along with the cost of Zuckerberg’s existing overall security program, is appropriate and necessary given the circumstances,” Meta said in a document.
The move comes as the owner of social media platforms Facebook and Instagram has cut thousands of jobs and slashed spending plans for a period Zuckerberg has dubbed the “Year of Efficiency.”
The 38-year-old, who is the 16th richest person on the Forbes list of billionaires, earned a compensation of about $27 million in 2021. Meta has yet to announce its pay package for last year.
The Financial Times reported last week that Meta had delayed finalizing several teams’ budgets as it prepared for another round of job cuts.
(Except for the headline, this story has not been edited by NewsMadura staff and is being published from a syndicated feed.)
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