Meta said Wednesday that it has increased the personal security allowance for CEO and co-founder Mark Zuckerberg and his family to $14 million from $10 million.
"The increased benefits, along with the cost of Zuckerberg's existing comprehensive security program, are reasonable and necessary given the circumstances," the US tech giant said in a filing with the US Securities and Exchange Commission.
Most recently, Zuckerberg increased his safety allowance in 2018, and last week Meta's board decided to add another $1 salary increase after reviewing the "status and significance of Meta's co-founder and CEO."
But the founder of Facebook, the holding company, Zuckerberg has an estimated net worth of $67.3 billion and is currently ranked 15th on the Forbes list of the richest people in the world.
Even with that increase, Zuckerberg could spend more than $14 million on security this year, with total security costs estimated at $23 million in 2020 and $25 million in 2021.
The increased security benefits come shortly after Zuckerberg declared 2023 Meta's "year of efficiency" as the company streamlines its software and organizational structure. A new round of layoffs is expected in the coming weeks.
In particular, executives of large corporations often travel for security reasons, as they and their families may be threatened or stalked by paparazzi and aggressive fans.
Jeff Bezos, Marc Benioff, Larry Ellison, Elon Musk and other notable founders and CEOs have collected millions of dollars in security fees from their companies. However, Zuckerberg's allocation is the largest.