Facebook owner Meta increases Zuckerberg's security allowance by $4 million

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Facebook owner Meta increases Zuckerberg's security allowance by $4 million
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Meta Platforms Inc said on Wednesday it had increased the security allowance given to Chief Executive and co-founder Mark Zuckerberg and his family by $4 million to $14 million.

The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman//File Photosaid on Wednesday it had increased the security allowance given to Chief Executive and co-founder Mark Zuckerberg and his family by $4 million to $14 million.

"This increased allowance, together with the costs of Zuckerberg's existing overall security program, are appropriate and necessary under the circumstances," Meta said in a filing. The move comes at a time when the owner of social media platforms Facebook and Instagram has cut thousands of jobs and slashed spending plans for a period that Zuckerberg has called the "Year of Efficiency."

The 38-year-old, who ranks as the 16th richest person in the Forbes billionaire list, earned a compensation of about $27 million in 2021. Meta is yet to disclose his pay package for last year.

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