India Markets closed

Facebook spent Rs 100 crore on Mark Zuckerberg security in last 2 years

1 / 1

Facebook spent Rs 100 crore on Mark Zuckerberg security in last 2 years

Facebook upped the budget for Mark Zuckerberg's security by 50 per cent in year 2017 from $5.8 million it spent in 2016.

Mark Zuckerberg is an important man. He is the CEO of arguably one of the most powerful companies in the history and he is one of the richest men ever. No wonder his security budget is huge. In the last two years, Facebook has spent over Rs 100 crore (around $20 million) on keeping the company CEO safe. The money has been mostly spent on security guards and private flights, which not only give Zuckerberg safety but also provides him with a degree of privacy.

Facebook upped the budget for Mark Zuckerberg's security by 50 per cent in year 2017 from $5.8 million it spent in 2016. In its filing to US regulators, the company has said that these security funds were required "due to specific threats to his safety arising directly as a result of his position as our founder, chairman, and CEO."

The Guardian reports that Facebook since 2015 has spent nearly Rs 100 crores on Zuckeberg's security including money spent on his travels abroad in private jets. "We require these security measures for the company's benefit because of the importance of Zuckerberg to Facebook," reads the filing.

The security budget of Zuckerberg, as per the filing, includes procurement, installation and maintenance of security measures at his home along. It also includes his private plane travels, which add to the fuel, crew and catering costs during the flights. Facebook also pays annually to his security personnel. The filing reveals that Zuckerberg, as per his request, continues to receive $1 annual base salary for his work at Facebook and he did not take part in the Bonus Plan of 2017.

Zuckerberg has of late come under fire for his company's inability to protect personal data of over 80 million users during the 2016 data leak. The CEO, last week, was grilled for 10 hours by the US congressional committee. The CEO was summoned by US Congress to explain Facebook data policies.

In the wake of the scandal, many have pointed out to the irony behind the privacy measures that Zuckerberg enjoys while his company tries to collect as much data as possible on Facebook users. During the Senate hearing last week in the US, Zuckerberg was asked if he would reveal the name of the hotel where he was staying in Washington DC. Zuckerberg said "no". He also said that he would not like anyone to know who he had called and messaged a week before the hearing.

Facebook is also facing allegations that it has done little to check the spread of fake news, hate speech and that it failed to properly asses company's unwitting role in allowing Russian meddling in American election and Britain Brexit vote in 2016. The recent most Facebook scandal involves a quiz app snooping personal data of over 80 million FB users without their consent. The data was then shared by the quiz app with data analysis firm Cambridge Analytica, which then used the data to build a psychological profile of the user and micro-target them during the US 2016 elections.