In 2023, Mark Zuckerberg, CEO of Meta Platforms Inc. and the fourth wealthiest individual globally, opted for a nominal salary of only $1. Despite this, his overall compensation reached a substantial $24.4 million.
Since 2013, Zuckerberg has been part of an exclusive group of executives who have taken a symbolic $1 salary, a list that includes tech luminaries such as former Google CEO Larry Page, Oracle Co-Founder Larry Ellison, and the late Steve Jobs of Apple. Similarly, Tesla’s Elon Musk did not take any salary but was compensated via stock options.
Zuckerberg’s “other compensation” of $24.4 million primarily covered personal security, costing about $14 million, and private aircraft expenses, which were around $1 million. This information was disclosed in a Securities and Exchange Commission (SEC) filing.
The filing highlighted Zuckerberg’s integral association with Meta, stating, “Mr. Zuckerberg’s role places him at the forefront of the company, making him a focal point for both positive and negative public sentiment towards Meta. His high-profile status is a result of our extensive user base and the significant attention we receive from media, lawmakers, and regulators worldwide.”
In recent developments, Zuckerberg’s net worth soared to $177 billion but experienced a $22 billion setback following an 11% decrease in Meta’s stock value after the earnings report on April 25. Despite this, Zuckerberg maintains his position as the world’s fourth-richest person, trailing behind Bernard Arnault of LVMH, Jeff Bezos of Amazon, and Elon Musk.
Zuckerberg commented on the stock’s volatility, noting that fluctuations are common during periods of investment in new products that have yet to generate revenue.
Holding approximately 345 million shares of Meta’s Class A and B stock, Zuckerberg’s stake contrasts sharply with the average Meta employee’s salary of $379,000, as reported by Fortune magazine.