Facebook and Instagram’s parent company Meta Platform’s CEO Mark Zuckerberg didn’t get a pay raise or receive a bonus last year, but he did receive more than $27 million in compensation due to the increased use of private aircraft. Meta in its 2022 proxy statement said that Zuckerberg‘s base salary remained at $1, the same as in 2021 and 2020. And in 2022 too he did not receive any bonus or stock awards.
Zuckerberg's total compensation increased from $26.82 million in 2021 to $27.11 million in 2022 as a result of a rise in "all other compensation."
This included $14.82 million for personal security at Zuckerberg’s residences and during personal travel, which was down $275,758 from $15.20 million the year before. Additionally, $10 million was included to pay for the costs of extra security measures connected to Mark Zuckerberg's and his family's personal security.
The total amount of all other compensation increased by $653,215 to $2.28 million in 2022 from $1.63 million in 2021 in order to cover costs associated with personal use of private aircraft.
“Mr. Zuckerberg uses private aircraft for personal travel in connection with his overall security program (including, beginning in 2022, a private aircraft that is indirectly and wholly owned by Mr. Zuckerberg and operated by an independent charter company,” the proxy statement stated.
“On certain occasions, Mr. Zuckerberg may be accompanied by guests when using private aircraft.” it added.
The costs for use of private aircraft include passenger fees, fuel, crew and catering costs, as provided by the charter company.
Meanwhile, Meta last month announced that it would be reducing its workforce by 10,000 employees. This comes only four months after the company let go of 11,000 workers. Following the layoff, employees have been posting their mental state and angst with the company on LinkedIn.
Andi Allen, a senior technical recruiter at Meta who was laid off during the second round of layoff said that getting laid off during maternity leave was the most shocking aspect.
In a LinkedIn post, Allen wrote how employees have to go through the outcomes of Meta’s management failure to foresee the economic downturn.
"I was part of today’s #metalayoffs while on maternity leave. I understand changes in market trends and focus on the business’s bottom line. I don’t understand how #metaleadership miscalculated so badly that they had to lay off thousands of employees, and yet still want to claim that they care about the people who work for them. Has Mark Zuckerberg taken a pay cut?” posted Allen.
FAQs
On paper, Mark Zuckerberg is Meta's lowest-paid employee, with a $1 salary and no bonus. Mark Zuckerberg is Meta's lowest-paid employee—at least on paper. The tech entrepreneur's base salary for 2023 was a humble $1, while the median worker at the tech giant took home a staggering $379,000.
How much did Mark Zuckerberg get paid? ›
Over more than a decade, Zuckerberg has earned just $11 in salary. Mark Zuckerberg holds the distinction of being Meta's lowest-paid employee, at least on paper. In 2023, his base salary was a modest $1, a stark contrast to the $379,000 median income for other employees at the tech giant, Fortune reported.
What is the salary of the CEO of Facebook? ›
His salary is $1 and follows a trend Zuckerberg established in 2013. However, the filing reveals a different story when it comes to total compensation. The $1 salary is just a sliver of Zuckerberg's total package, which came in at $24.4 million in 2023. This represents a decrease from 2022's total of $27.1 million.
What is a $1 dollar salary? ›
The concept of a one-dollar salary arises when top chief executives worldwide choose to receive only $1 as compensation from their companies. Despite working without direct financial rewards, these CEOs adhere to legal requirements necessitating a minimal salary.
Who is the highest paid CEO? ›
A look at the highest paid CEOs in the US by “compensation actually paid" in 2023 –
- Tesla's Elon Musk - $1.4 billion.
- Palantir Technologies' Alexander Karp - $1.1 billion.
- Broadcom's Hock Tan - $767.7 million.
- Coinbase Global's Brian Armstrong - $680.9 million.
- Oracle's Safra Catz - $304.1 million.
At Meta, the highest paid job is a Group Product Manager at $285,000 annually and the lowest is a Receptionist at $40,000 annually. Average Meta salaries by department include: Engineering at $169,047, IT at $109,602, Marketing at $107,718, and Design at $157,834. Half of Meta salaries are above $149,718.
How many billionaires has Facebook made? ›
Facebook made a lot of people millionaires but it made 10 people billionaires. The stock opened today at $38 per share. Using that price, Bloomberg calculated the net worth of Facebook's richest employees and investors. They're now worth ten or eleven figures.
How does Mark Zuckerberg earn through Facebook? ›
How does Mark Zuckerberg actually make money? In short: he owns a very large amount of Facebook stock, and he sells it on a pre-determined, fixed, schedule. The current amount of stock he has is around $80 billion; exact numbers follow in the body of this response.
When Mark Zuckerberg became a millionaire? ›
Mark Zuckerberg: 22
The Facebook cofounder and CEO became a millionaire in 2006 at age 22. It didn't take long for him to make the leap from self-made millionaire to billionaire. At the age of 23, Facebook's IPO made Zuckerberg the youngest self-made billionaire in history.
Who is the highest paid employee at Meta? ›
The highest-paying job at Meta is a Senior Vice President with a salary of $876,392 per year (estimate).
The highest-paying job at Facebook is a Technical Lead with a salary of ₹104.2 Lakhs per year. The top 10% of employees earn more than ₹120.07 lakhs per year. The top 1% earn more than a whopping ₹705.40 lakhs per year.
What is Facebook's typical salary? ›
The average facebook salary ranges from approximately $85,135 per year for Lead Developer to $288,000 per year for Capacity Manager. Average facebook hourly pay ranges from approximately $15.00 per hour for Advertising Coordinator to $103 per hour for User Interface Designer.
What salary is $100 a day? ›
If you make $100 per day, your Yearly salary would be $26,031. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 40 hours a week.
How much is $30 an hour a year? ›
$30 an hour is how much a year? If you make $30 an hour, your yearly salary would be $62,400.
How much is $20 an hour annually? ›
$20 an hour is how much a year? If you make $20 an hour, your yearly salary would be $41,600.
What is the highest paying job at Meta? ›
The highest-paying job at Meta is a Senior Vice President with a salary of $876,392 per year (estimate).
How does Facebook Meta Pay? ›
Meta Pay is a seamless and secure way to make payments on Facebook, Messenger, Instagram, and in participating online stores. Enter your payment card or account information just once and then use Meta Pay to make purchases, send money or donate.
How much did Meta Pay for Instagram? ›
Meta bought Instagram for $1 billion in 2012. Instagram's two founders, Kevin Systrom and Mike Krieger, moved to join Facebook as CEO and chief technical officer of Instagram following the merger. Both executives resigned in 2018 reportedly over disagreements with their boss, Mark Zuckerberg.
How much does Meta make in profit? ›
Meta Platforms gross profit for the twelve months ending March 31, 2024 was $116.221B, a 26.34% increase year-over-year. Meta Platforms annual gross profit for 2023 was $108.943B, a 19.25% increase from 2022. Meta Platforms annual gross profit for 2022 was $91.36B, a 4.11% decline from 2021.
