Mark Zuckerberg's Net Worth Grew By $84 Billion In 2023, But His Salary Was Just $1
Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg, the world's fourth-richest person, received a salary of just $1 in 2023, but his total compensation amounted to $24.4 million.
Zuckerberg has been a member of the $1 salary club since 2013. Over the years, he has officially earned $11 on paper. Former Google CEO Larry Page, Oracle Corp. Co-Founder Larry Ellison and the late Apple Inc. Co-Founder Steve Jobs are also part of the $1 salary club. Tesla Inc. CEO Elon Musk, who earned a $0 salary in 2023, is compensated through stock options.
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About $14 million of Zuckerberg’s $24.4 million "other compensation" was allocated to personal security, and approximately $1 million was designated for costs related to his use of private aircraft, according to a filing with the Securities and Exchange Commission (SEC).
“We believe that Mr. Zuckerberg’s role puts him in a unique position: He is synonymous with Meta and, as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg,” the filing stated. “Mr. Zuckerberg is one of the most recognized executives in the world, in large part as a result of the size of our user base and our continued exposure to global media, legislative, and regulatory attention.”
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Zuckerberg’s wealth recently reached its peak at $177 billion, before plummeting by $22 billion following Meta’s earnings report on April 25. The decline was attributed to an 11% drop in Meta stock price. Zuckerberg's current net worth is $155.2 billion.
Despite the drop, Zuckerberg still kept his spot as the world's fourth-richest person behind LVMH's Bernard Arnault, Amazon.com Inc.'s Jeff Bezos and Musk.
During the call, Zuckerberg said, "We've historically seen a lot of volatility in our stock during this phase of our product playbook where we're investing in scaling a new product but aren't yet monetizing it."
Zuckerberg holds approximately 345 million Class A and B shares in Meta.
In contrast to Zuckerberg’s minimal salary, the average Meta employee earned $379,000, according to Fortune magazine.
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