Happy Birthday Mark Zuckerberg: Do You Know Meta CEO's Base Salary Is Rs 83 But Other Income Is Rs 199 Crore?
Mark Zuckerberg, the CEO of Meta, formerly known as Facebook, has risen from being a Harvard dropout to becoming a billionaire philanthropist with numerous successful tech ventures under his belt. As he celebrates his 40th birthday on May 14, Zuckerberg's journey serves as a testament to the transformative power of innovation and entrepreneurship. A key figure in the tech revolution, he continues to inspire individuals worldwide with his vision and accomplishments.
Mark Zuckerberg, the brain behind Meta, gets paid in a unique way. Even though he officially earns only $1 (Rs 83.30) as his salary, he actually gets a lot more. Recent reports from the Securities and Exchange Commission show that he gets around $24.4 million (Approx Rs 199 crore) in total, reported in Fortune.
How Zuckerberg¡¯s Pay Breaks Down
Let¡¯s break down how Zuckerberg gets his money. He gets $1 as his base salary, but the rest, about $24.4 million (Approx Rs 199 crore), comes from other compensation. Most of this extra money goes towards security expenses, but exactly how much isn't clear. This shows how important security is for someone like Zuckerberg, who¡¯s famous worldwide.
Zuckerberg's security expenses, linked to what Meta called a "year of efficiency", have been up and down. In 2023, Meta said that his personal security money before tax went up by 40%, from $10 million in 2018 to about $14 million. This happened not long after the company laid off 11,000 employees, making people wonder if there's a connection between the two things.
Even though Meta has been cutting jobs, Zuckerberg has spent a bit less on security. In 2022, he shelled out $14,829,245 (Approx Rs 120 crore) for his safety, both at home and when he travels personally. But in the next year, during Meta¡¯s "year of efficiency," his security costs went down to $9,431,139 (Rs 78 crore). This also covered nearly $1 million (Approx Rs 8 crore) for using private planes for personal reasons.
Meta said that spending a lot of money on keeping Zuckerberg safe is important because he's so important for the company. They mentioned that when people don't like Meta, they often blame Zuckerberg. In their official documents, Meta said, ¡°We believe that Mr. Zuckerberg's role puts him in a unique position: he is synonymous with Meta and, as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg,¡± the company wrote in the filing.
They added, "Mr Zuckerberg is one of the most recognised executives in the world, largely due to the size of our user base and our continued exposure to global media, legislative, and regulatory attention."
$1 salary club
When it comes to his pay, Zuckerberg has been in the "$1 salary club" since 2013, along with people like Larry Page, Larry Ellison, and the late Steve Jobs. This club includes those who get a symbolic $1 salary. In over ten years, Zuckerberg has only made $11 in salary.
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Zuckerberg might not get a big salary, but he¡¯s still super rich. His net worth goes up and down a lot, especially depending on how well Meta is doing in the stock market. In February, in just one day, his net worth shot up by $28 billion! But there are bad days too, like when he lost almost $30 billion in one day because Meta¡¯s stock price went down.
As of April 23, Zuckerberg¡¯s net worth is $176 billion jumped up from around $78 billion this time last year.
Mark Zuckerberg¡¯s pay might seem strange at first glance, but it¡¯s actually pretty common for big CEOs. They often get most of their money from other sources besides their salary.
How much share Mark Zuckerberg holds in Meta
Mark Zuckerberg holds approximately 350 million shares in Meta, which means his share of the quarterly dividend would be approximately $175 million before taxes, according to Bloomberg data. This substantial amount underscores the significant wealth accumulated by Zuckerberg through Meta's dividend policy.
In 2022, the 39-year-old tech mogul received a total compensation package of $27.1 million, which included expenses for private security and a nominal base salary of $1, based on Meta's filings with the US Securities and Exchange Commission. However, Meta has not yet disclosed executive compensation for the fiscal year 2023, leaving Zuckerberg's earnings for that period undisclosed.
Mark Zuckerberg's Net worth, houses, and car collection
Mark Zuckerberg boasts a staggering net worth of $167.1 billion, which is approximately Rs 14 lakh crore in Indian rupees. As the youngest self-made billionaire and the ninth richest person globally, his wealth is awe-inspiring.
Despite his preference for a modest lifestyle and simple attire, Mark Zuckerberg's car collection holds a surprise. While it mainly consists of practical everyday cars like the Honda Fit, Acura TSX, VW Golf GTI, and Infiniti G25, there's one standout vehicle: the Pagani Huayra. This limited edition car, with only 100 units ever built, adds an exotic touch to his collection.
In terms of real estate, Mark Zuckerberg's Hawaiian estate is particularly noteworthy. Wired's investigation uncovered intriguing features, including an underground bunker secured with a reinforced metal door, a cluster of 11 interconnected treehouses accessible via rope bridges, and extensive security measures. The compound, comprising approximately 12 structures, includes guest accommodations and amenities related to agriculture and ranching, with enough space to accommodate "at least 30 bedrooms and 30 bathrooms," according to reports.
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