JOIN OUR WHATSAPP CHANNEL
The Truth Behind Mark Zuckerberg's USD 1 Salary; KNOW More About How Much The Facebook CEO Earns
Explore the paradox of Mark Zuckerberg's $1 salary at Meta amidst soaring security costs and his skyrocketing personal wealth. Learn how he manages to earn an extraordinary figure.
-
Mark Zuckerberg's nominal $1 salary contrasts sharply with his multimillion-dollar security expenses
-
Despite his modest salary, Zuckerberg's personal wealth has surged
The head of Meta, Mark Zuckerberg may seem to be an example of humility with a base salary of $1 but this is not entirely true. While most employees at Meta earn an average of $379,000 per year, his pay package extends far beyond just the dollar.
The million-dollar secret
For his security expenses alone, Zuck’s total income adds up to $24.4m in 2023. During ‘the year of efficiency’ when thousands were laid off from the company formerly known as Facebook, these costs remained high; they dipped slightly from $14.8m in 2022 to $9.4m this year as jobs were slashed.
Several years back, it seemed absurd that Meta had to justify the high costs of ensuring the safety of its CEO by citing credible threats made against him. Undoubtedly, he is the prominent figure of the company; however, there are individuals who may have reasons to prefer not having Mark Zuckerberg as their dinner companion.
Now, these men are required to pay for their security for themselves; but will they? The CEO steps in, paying for their security which eventually during the turn over becomes company’s / CEO’s profit because the taxation is clearly avoided.
The one dollar salary club
Zuckerberg joins a rarefied group among technology executives who take only token annual earnings while amassing great fortunes elsewhere through stock options or other equity grants tied directly to their companies’ performance. Zuckerberg pays himself such a minimal fee to avoid taxation as earned income is considered as the most highly taxed income.
His net worth has surged especially after Meta did well financially lately; in one day alone last week his wealth grew by over 28 billion dollars which made him one of planet earth’s richest humans without question.
Meta's comeback success story
This recent financial turnaround at meta has had another positive impact on how much money Mark Zuckerberg is worth. Because now even though lots got laid off world wide and savings were doubled; operating margin reduced expenses 8% YoY etc; all this moving around of capital ultimately ended up benefiting one person.
He now sits comfortably as Earth’s third wealthiest individual having amassed a fortune totaling $176bn as at April 23rd. Mark Zuckerberg may have a base salary of only one dollar but both his compensation package and personal fortune speak differently.
To this day, as the company faces its share of challenges while still pursuing growth under its new name Meta, he remains an icon for frugality in addition to being considered among the richest people within technology circles.
ALSO READ: What is the viral Quit-Tok trend? Employees live stream their resignation on TikTok
FAQs
Latest Articles
