NEW YORK- Facebook has disclosed the amount it spent on its CEO, Mark Zuckerberg security last year. It amounted to $4.26 million.
The expense reveals the total cost from 2013 to 2015 to $12.5 million. The cost was “”to address safety concerns due to specific threats to his safety arising directly as a result of his position as our founder, chairman, and CEO,” the company said in a regulatory filing.
Mark Zuckerberg is the eighth-richest man in world with $47 billion net worth. The company spent $5.6 million on its CEO’s security and $2.65 million in 2013. Last year’s expense surpasses the $ 1.53 million Oracle Corp expended to protect executive chairman Larry Ellison in fiscal 2015 and Amazon.com Inc.’s $1.6 million for Jeff Bezos, according to data compiled by Bloomberg.
Facebook provides a home security system to its CEO and guards to protect his home in San Francisco’s Mission District. The team is overseen by a former US Secret Service agent who protected Barack Obama. ]
Security “should be a board of directors’ first and foremost concern,” especially at companies built around a central figure, said Peter Martin, chief executive of security consultancy Afimac Global.