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Zuckerberg's compensation jumps to $8.9 million as security costs soar

Reuters 

By Munsif Vengattil

(Reuters) - Inc Chief Executive Mark Zuckerberg's compensation rose 53.5 percent to $8.9 million in 2017, a regulatory filing showed (https://www.sec.gov/Archives/edgar/data/1326801/000132680118000022/facebook2018definitiveprox.htm#s0D0D1B3F335A5E9D907447604DF4869E) on Friday, largely due to higher costs related to the 33-year old billionaire's personal security.

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 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.

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

(Reporting by in Bengaluru; Editing by Sai Sachin Ravikumar)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, April 14 2018. 03:51 IST
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