Meta CEO Mark Zuckerberg Receives $1 Salary, $24.4 Million in Other Compensation in 2023

Mark Zuckerberg, Meta's CEO, received a $1 salary in 2023, but his $24.4M "other compensation" package sparked discussions on executive pay and wealth inequality in tech.

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Sakchi Khandelwal
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Meta CEO Mark Zuckerberg Receives $1 Salary, $24.4 Million in Other Compensation in 2023

Meta CEO Mark Zuckerberg Receives $1 Salary, $24.4 Million in Other Compensation in 2023

Mark Zuckerberg, the CEO of Meta, received a base salary of $1 in 2023, making him the lowest-paid employee at the tech giant. However, his total compensation package included $24.4 million in 'other compensation,' primarily allocated towards covering his personal security costs.

Meta increased Zuckerberg's security pre-tax allowance by 40% from $10 million in 2018 to approximately $14 million in 2023, citing 'specific threats' to him as the face of the brand. The compensation also included nearly $1 million for costs related to his personal usage of private aircraft.

Despite his modest base salary, Zuckerberg's net worth has surged to $176 billion, making him one of the world's wealthiest individuals. This is largely due to his 13% stake in Meta, which owns Facebook, Instagram, and WhatsApp. The company reported $134.9 billion in revenue in 2023.

Why this matters: The disclosure of Zuckerberg's compensation package has sparked discussions around executive compensation and wealth inequality within the tech industry, especially amidst Meta's workforce reduction and the company's efforts to address changing challenges and opportunities.

Zuckerberg is not the only CEO to receive a $1 salary, as other tech leaders like Elon Musk, Jeremy Stoppelman, and the Google co-founders have also taken the same approach. Despite the impressive financial results, Meta's metaverse division continued to lose money, with a $3.8 billion loss in the last quarter.

Key Takeaways

  • Zuckerberg's 2023 base salary was $1, making him Meta's lowest-paid employee.
  • Zuckerberg's total compensation included $24.4M for personal security and private jet costs.
  • Zuckerberg's net worth is $176B due to his 13% stake in Meta, which earned $134.9B in 2023.
  • Zuckerberg's compensation sparked discussions on executive pay and wealth inequality in tech.
  • Meta's metaverse division lost $3.8B in the last quarter despite the company's overall financial success.