Meta CEO Mark Zuckerberg Might Have Opted For $1 Salary But He Pocketed A Cool $24 Million In 2023: Report

In 2023, Meta CEO Mark Zuckerberg opted for a salary of just $1, marking the lowest among all Meta employees. However, his compensation totalled around $24.4 million, primarily allocated towards covering security expenses.

While the exact amount designated for his security was not disclosed, Meta notably increased its security budget for Zuckerberg to $14 million in 2023, up from $10 million in previous years. This represented a 40% rise in his security pre-tax allowance compared to 2018. This increase followed a year of cost-cutting measures for Meta, which included laying off approximately 11,000 employees.

According to reports, Zuckerberg could utilize the enhanced allowance for various safety-related needs, including additional personnel, equipment, services, and residential improvements.

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A portion of Zuckerberg’s $24.4 million compensation in 2023 was reportedly allocated for expenses related to his private jet, as per Fortune. Despite his request to maintain a salary of $1 and abstain from participating in Meta’s Bonus Plan or receiving equity awards, his wealth surged by over $47 billion in the year.

Forbes ranks Zuckerberg as the fourth richest person globally, with a net worth of $155 billion, trailing behind Bernard Arnault, Elon Musk, and Jeff Bezos.

Meanwhile, Meta announced significant quarterly profits, with net profit reaching $12.4 billion in the January to March period and total revenue, mainly driven by ad sales, increasing by 27% to $36.5 billion.

Meta’s global workforce currently stands at 69,329 employees, slightly more than the previous quarter but down from its peak of over 87,000 employees in 2022.

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