Facebook Spent $12.5 Million to Protect Zuckerberg Since 2013
- Three-year security cost is first disclosure for company
- SEC questioned why expenses weren't listed as taxable perk
Facebook Revenue Jump Supports Zuckerberg's Growth Plan
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Facebook Inc. revealed that it spent $4.26 million on security for Mark Zuckerberg last year, its first disclosure of such costs, and the highest among companies in the Standard & Poor’s 500 Index that have filed proxy statements for fiscal 2015.
The expense brings the total cost from 2013 to 2015 to $12.5 million, according to a regulatory filing. 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 the filing. Zuckerberg is the world’s eighth-richest person with $47 billion, according to the Bloomberg Billionaires Index.