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Facebook Spent $20 mn on Mark Zuckerberg’s Personal Security in 2018

The hike in security expenditure for its leaders is owing to Facebook facing the heat for growing cases of election interference and data misuse on its platform

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This photograph taken on May 16, 2018, shows a figurine standing in front of the logo of social network Facebook on a cracked screen of a smartphone in Paris. VOA

Facebook spent $20 million on its CEO Mark Zuckerberg’s personal security last year — four times more than what he received for security in 2016.

In a filing with the US Securities Exchange Commission (SEC) on Friday, Facebook said it spent $2.6 million on private plane costs — up from $1.5 million a year before, CNET reported.

The aircraft expenses went to charter companies and included “passenger fees, fuel, crew, and catering costs”.

Zuckerberg takes $1 as salary each year but his total compensation was $22.6 million in 2018 — more than double since 2017 when he made $9.1 million in total compensation.

Facebook
Facebook’s founder and CEO Mark Zuckerberg speaks at the Viva Tech start-up and technology summit in Paris, France, May 24, 2018. VOA

Facebook spent $2.9 million on personal security for its COO Sheryl Sandberg.The social networking giant spent more than $900,000 on her private plane costs.

The hike in security expenditure for its leaders is owing to Facebook facing the heat for growing cases of election interference and data misuse on its platform.

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“Because of the high visibility of our company, our compensation and governance committee has authorised an ‘overall security programme’ for Zuckerberg to address safety concerns due to specific threats to his safety arising directly as a result of his position as our founder, CEO, Chairman, and controlling stockholder,” read the company document. (IANS)

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Facebook Commits $130 mn to Build Global Oversight Board for Ensuring Accountability

Facebook intends to continue funding the board's operations in the future, and these reports will be used to assess the need for additional, substantive and long-term funding

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Facebook
Facebook said it has established the independent Oversight Board Trust to ensure the board can safeguard its ability to make independent decisions and recommendations. Pixabay

Facebook has made an initial commitment of $130 million to build a global oversight board that will ensure good governance and accountability across its services and platforms.

The initial funding will cover operational costs such as office space, staff and travel expenses and should allow the board to operate for at least its first two full terms, approximately six years, Brent Harris, Director of Governance and Global Affairs at Facebook, said in a statement.

The board will submit a yearly budget to the trust for approval and disbursement of funds.

Annual reports from the board and trust will help to document the health and effectiveness of the board, including its stewardship of these resources.

Facebook intends to continue funding the board’s operations in the future, and these reports will be used to assess the need for additional, substantive and long-term funding.

Last November, Mark Zuckerberg wrote about his vision for what content governance should look like for Facebook.

Facebook said it has established the independent Oversight Board Trust to ensure the board can safeguard its ability to make independent decisions and recommendations.

Facebook
Facebook has made an initial commitment of $130 million to build a global oversight board that will ensure good governance and accountability across its services and platforms. Pixabay

“The board will have its own staff, independent from Facebook. To start, we expect this staff to include a director, case managers and dedicated staff members (or contracted services) who can support things such as the board’s communications, legal, human resources and research needs,” said Harris.

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In addition, said Facebook, it will continue to work with outside experts to source and review candidates for board membership, including those who’ve been recommended through the public portal, which we opened in September.

“We are eager to see the Oversight Board take shape and start hearing cases next year,” said Facebook. (IANS)