Facebook spends $22.6 million to keep Mark Zuckerberg safe

FILE Impression: Facebook’s founder and CEO Mark Zuckerberg speaks at the Viva Tech commence out-up and engineering summit in Paris, France, May perhaps 24, 2018. REUTERS/Charles Platiau

(Reuters) – Fb Inc more than doubled the earnings it expended on Main Govt Officer Mark Zuckerberg’s balance in 2018 to $22.six million, a regulatory distributing confirmed on Friday.

Zuckerberg has drawn a foundation wage of $a single for the previously three a lengthy time, and his “other” payment was talked about at $22.six million, most of which was for his very own balance.

Just about $20 million went towards balance for Zuckerberg and his wife or husband and little ones, up from about $nine million the 12 months prior. Zuckerberg also obtained $two.six million for very own use of non-public jets, which the corporation reported was ingredient of his all spherical balance plan.

Fb has in the previously handful of a lengthy time confronted group outcry over its intent in Russia’s alleged effects on the 2016 U.S. presidential election and has get there down below fireplace adhering to revelations that Cambridge Analytica attained very own details from hundreds and hundreds of Fb profiles devoid of consent.

Main Operating Officer Sheryl Sandberg took dwelling $23.seven million in 2018 in distinction to $25.two million last 12 months.

Independently, Fb reported Netflix Main Govt 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-principally dependent corporation beefs up its drive into movie clips. Hastings has served on Facebook’s board considering that 2011.

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The corporation also reported it would nominate PayPal’s senior vice president of main marketplaces, Peggy Alford, to its board in region of College of North Carolina President Emeritus Erskine Bowles, who will also not be re-nominated.

Fb shares shut at $179.07 Friday night time.

Reporting by Sayanti Chakraborty in Bengaluru Modifying by Shounak Dasgupta and Cynthia Osterman

Our Specs:The Thomson Reuters Think in Rules.

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