Nation & World

Facebook CEO Mark Zuckerberg Comp Jumps 54% in 2017, to $8.9 Million, on Higher Personal Security Costs

Facebook CEO Mark Zuckerberg testifies before the Senate judiciary and commerce committees on Capitol Hill over social media data breach, on April 10, 2018 in Washington, D.C. (Olivier Douliery/Abaca Press/TNS)
Facebook CEO Mark Zuckerberg testifies before the Senate judiciary and commerce committees on Capitol Hill over social media data breach, on April 10, 2018 in Washington, D.C. (Olivier Douliery/Abaca Press/TNS)

LOS ANGELES (Variety.com) — Mark Zuckerberg, chairman, CEO and co-founder of Facebook, had a compensation package of $8.9 million in 2017, up 54% from the year prior — which was almost entirely for personal security and use of a private jet, the company said Friday.

His salary for 2017 was just a token $1, as it has been since 2013, and he didn’t receive any stock awards or bonus. As of March 31, Zuckerberg owned 401.5 million shares of Facebook stock, currently worth $6.6 billion. He controls 59.9% of the board voting power of Facebook.

Zuckerberg’s pay package for 2017 comprised $7.3 million for personal security — up 50% from $4.9 million in 2016 — and $1.52 million for use of a chartered plane.

His total comp was nearly all “costs related to personal security for Mr. Zuckerberg at his residences and during personal travel pursuant to his overall security program and costs related to personal usage of private aircraft,” Facebook said in a regulatory filing.

Facebook COO Sheryl Sandberg last year took home a pay package worth $25.2 million, up 2.6%, per the filing. Her 2017 comp included $21.1 million in stock and $2.7 million for personal security.

Zuckerberg earlier this week testified before Congress, in Senate and House hearings that each lasted about five hours, to discuss the company’s mishandling of data that improperly ended up on the servers of Cambridge Analytica. That’s the British political data-analytics firm that conducted work for Donald Trump’s 2016 presidential campaign, which Facebook says bought data on up to 87 million users from a third-party researcher.

Earlier this year, Zuckerberg sold $357 million worth of Facebook shares to fund his philanthropic organization, the Chan Zuckerberg Initiative, after selling nearly $1 billion in stock last year.

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