Meta CEO Mark Zuckerberg’s Base Wage Is Solely Rs 83, However There’s A Catch

Mark Zuckerberg, the founder and CEO of Meta, is the corporate’s lowest-paid worker on paper. As per the stories, Zuckerberg obtained a base wage of $1 (Rs 83) in 2023. This quantity may sound absurd to many as a result of in response to Fortune Enterprise journal, it’s considerably decrease than the median wage of a Meta worker. The median wage is round $379,000 (roughly Rs 3 crore). Base wage is the mounted quantity an worker have to be paid for his or her work as agreed upon through the hiring course of. The median wage represents the center worth between all salaries thought of. Nevertheless, $1 (Rs 83) is only a nominal base as Zuckerberg is entitled to obtain hefty quantities of cash underneath ‘different compensation’ as nicely. The opposite compensation quantities to a staggering $24.4 million (Rs 20 crores).

As per the report printed within the Fortune, a significant portion of this ‘different compensation’ covers the safety bills of the Meta founder. The report reveals that in 2023, Meta elevated his safety pre-tax allowance by 40 per cent from $10 million (Rs 83.39 crores) in 2018 to roughly $14 million (nearly Rs 320 crores). Nevertheless, there have been some reductions on this safety spending because of Meta’s dedication to a “12 months of effectivity”. In 2022, he spent $14.8 million (Rs 323 crores) on safety, whereas in 2023, this value dropped to round $9.4 million (Rs 78 crores).

One other essential portion of this compensation was channelled in direction of the expenditure associated to the non-public use of plane, amounting to nearly $1 million (Rs 8.24 crores).

These perks from the corporate had helped the Meta CEO Mark surged previous Elon Musk to grow to be the third-richest particular person on the earth in response to Bloomberg Billionaire’s Index rating. Zuckerberg and Musk’s internet price is $186.9 billion (Rs 1,550 crores) and $180.6 billion (Rs 1,500 crores), respectively. In 2024, Tesla inventory has seen a 34 per cent drop making it the poor performer within the S&P 500 Index. In distinction, shares of Meta Platforms Inc. have surged by 49 per cent. Musk, who ranked on the primary place on the Bloomberg Billionaires Index as lately as early March, got here to fourth.