Zuckerberg spends $14 million a year on security

The chief executive of Meta Platforms Inc. Mark Zuckerberg has called 2023 "the year of efficiency", signalling that the social network plans to cut costs and increase speed, but spending is rising in at least one area: his personal security.

Meta, the parent company of Facebook and Instagram, is increasing its pre-tax spending on Zuckerberg's personal security to $14 million in 2023, up from $10 million in the past few years, according to a regulatory report released Wednesday.

The payment does not include other security costs the company will incur on Zuckerberg's behalf. The CEO has faced criticism in the past for spending more on security than similar CEOs. In 2021, for example, the social media giant spent more than $26.8 million on security-related expenses for Zuckerberg and his family, including a pre-tax allowance of $10 million.

Meta is aiming for its biggest profit in a decade thanks to a leaner vision.

Meta noted on Wednesday that Zuckerberg receives an annual salary of $1 and receives no other compensation.