Zuckerberg

Technology


(Reuters) – Facebook Inc (FB.O) Chief Executive Mark Zuckerberg’s compensation rose 53.5 percent to $8.9 million in 2017, a regulatory filing showed on Friday, largely due to higher costs related to the 33-year old billionaire’s personal security.

FILE PHOTO: Facebook CEO Mark Zuckerberg testifies before a House Energy and Commerce Committee hearing regarding the company’s use and protection of user data on Capitol Hill in Washington, U.S., April 11, 2018. REUTERS/Aaron P. Bernstein

About 83 percent of the compensation represented security-related expenses, while much of the rest were tied to Zuckerberg’s personal usage of private aircraft.

Zuckerberg’s security expenses climbed to $7.3 million in 2017, compared with $4.9 million a year earlier.

His base salary was unchanged at $1, while his total voting power at Facebook rose marginally to 59.9 percent.

Menlo Park, California-based Facebook, which has consistently reported stronger-than-expected earnings over the past two years, has faced public outcry over its role in Russia’s alleged influence over the 2016 U.S. presidential election.

Earlier this week, Zuckerberg emerged largely unscathed after facing hours of questioning from U.S. lawmakers on how the personal information of several million Facebook users may have been improperly shared with political consultancy Cambridge Analytica.

(This story corrects to $8.9 million from $8.7 million in headline)

Reporting by Munsif Vengattil in Bengaluru; Editing by Sai Sachin Ravikumar



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