- Meta Platforms Inc. increased Mark Zuckerberg’s security allowance by $4 million to $14 million.
- Zuckerberg has cut thousands of jobs and trimmed expenditure projections.
- Meta has yet to reveal his salary for last year.
Meta Platforms Inc (META.O) announced on Wednesday that it had increased the security allowance paid to CEO and co-founder Mark Zuckerberg and his family by $4 million to $14 million.
“This increased allowance, together with the costs of Zuckerberg’s existing overall security program, are appropriate and necessary under the circumstances,” Meta wrote in a filing.
The move comes at a time when Facebook and Instagram CEO Mark Zuckerberg has cut thousands of jobs and trimmed expenditure projections for a period dubbed the “Year of Efficiency.”
The 38-year-old, who is the 16th richest person on Forbes’ billionaire list, received around $27 million in 2021. Meta has yet to reveal his salary for last year.
The Financial Times reported last week that Meta had postponed finishing the budgets of numerous teams in order to prepare for a new round of layoffs.
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