Mark Zuckerberg ranks because the sixteenth richest particular person within the Forbes billionaire checklist. (File)

Meta Platforms Inc stated on Wednesday it had elevated the safety allowance given to Chief Government and co-founder Mark Zuckerberg and his household by $4 million to $14 million.

“This elevated allowance, along with the prices of Zuckerberg’s current general safety program, are acceptable and mandatory beneath the circumstances,” Meta stated in a submitting.

The transfer comes at a time when the proprietor of social media platforms Fb and Instagram has minimize 1000’s of jobs and slashed spending plans for a interval that Zuckerberg has known as the “12 months of Effectivity.”

The 38-year-old, who ranks because the sixteenth richest particular person within the Forbes billionaire checklist, earned a compensation of about $27 million in 2021. Meta is but to reveal his pay bundle for final 12 months.

The Monetary Instances reported final week that Meta had delayed finalizing the budgets of a number of groups because it was making ready for a contemporary spherical of job cuts.

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