Fri, 26 Apr 2019

Facebook Spends $22.6 Million on Security for Zuckerberg

Voice of America
13 Apr 2019, 16:08 GMT+10

Facebook Inc. more than doubled the money it spent on Chief Executive Officer Mark Zuckerbergs security in 2018 to $22.6 million, a regulatory filing showed Friday.

Zuckerberg has drawn a base salary of $1 for the past three years, and his other compensation was listed at $22.6 million, most of which was for his personal security.

Nearly $20 million went toward security for Zuckerberg and his family, up from about $9 million the year prior. Zuckerberg also received $2.6 million for personal use of private jets, which the company said was part of his overall security program.

Chief Operating Officer Sheryl Sandberg took home $23.7 million in 2018 compared to $25.2 million last year.

Facebook has in the past few years faced public outcry over its role in Russias alleged influence on the 2016 U.S. presidential election and has come under fire following revelations that Cambridge Analytica obtained personal data from millions of Facebook profiles without consent.

Russia fines Facebook $47

On Friday, a Russian court fined Facebook for failing to tell authorities where it stores Russian user data, Russian news agency reported.

The court fined Facebook 3,000 rubles ($47) for not providing the information in line with legislation that requires social media companies to store user data on servers located in Russia.

The only tools Moscow currently has to enforce its data rules are fines that often amount to very small sums or blocking the offending online services, an option fraught with technical difficulties.

Facebook shakes up its board

Separately, Facebook said Netflix Chief Executive Officer Reed Hastings would vacate his seat on the social media companys board and not be nominated for re-election.

Hastings departure comes as the Menlo Park-based company beefs up its push into videos. Hastings has served on Facebooks board since 2011.

The company also said it would nominate PayPals senior vice president of core markets, Peggy Alford, to its board in place of University of North Carolina President Emeritus Erskine Bowles, who will also not be re-nominated.

Facebook shares closed at $179.07 Friday evening.

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