The social media giant Facebook founded by Mark Zuckerberg where he also holds the positions of chairman and CEO, just announced that it will spend as much as $10 million each year for the security of the family of Mark Zuckerberg. The amount spent on security has been increased by the company from $7.3 million which was spent last year for the same purpose. This security budget has been increasing each year with a significant margin as it was only $4.2 in 2015.
This is actually in addition to the pre-existing security program for Mark Zuckerberg that basically covers all the costs for the installation, procurement as well as maintenance of the residential security systems. The usage of the private aircraft which is often used for personal travel is also covered in the same security program. Facebook announced that this additional amount would be paid to Zuckerberg and family for the security personnel, services, equipment, as well as residential improvements if any.
The company declared that it took the decision considering the importance of Mark and his position in the company too, along with his salary which was surprisingly just $1 for the last year, which he himself has declared to continue, and he does not even receive any equity rewards or bonus payments as well. The company also said that this allowance is absolutely appropriate and necessary as well, under the circumstances.
Speaking of Facebook, it recently observed the worst ever drop in the market value of the company which is attributed to many reasons and incidences that happened in the last few years including the questions raised about privacy of the fellow users that made Zuckerberg to appear before the jury. The company just erased $119.1 billion in the overall market value.