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Facebook Spends More than Doubled the Money for Zuckerberg’s Security

Nearly $20 million went toward security for Zuckerberg and his family, up from about $9 million the year prior

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FILE - A 3D printed Facebook logo is seen in front of a displayed Russian flag in this photo illustration, Aug. 3, 2018. VOA

Facebook Inc. more than doubled the money it spent on Chief Executive Officer Mark Zuckerberg’s 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.

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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. VOA

Facebook has in the past few years faced public outcry over its role in Russia’s 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.

 

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

Facebook shakes up its board

Separately, Facebook said Netflix Chief Executive Officer Reed Hastings would vacate his seat on the social media company’s 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 Facebook’s board since 2011.

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The company also said it would nominate PayPal’s 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. (VOA)

Next Story

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 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.

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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)