Zuckerberg Spent $700,000 of FB Cash on Private Jets

Facebook's Mark Zuckerberg garnered almost $800,000 in "other compensation" in 2011 -- $700,000 for private jets for him, family and friends, company documents show.

By Barbara E. Hernandez

| Tuesday, Aug 14, 2012 | Updated 3:50 PM PDT

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Zuckerberg Spent $700,000 of FB Cash on Private Jets

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Mark Zuckerberg, founder of Facebook Inc., reacts during the internet session of the G8 summit on May 26, 2011 in Deauville, France. Guess how he got there?

Facebook chief Mark Zuckerberg was given almost $700,000 for private jets in 2011 -- effectively doubling his salary as chief executive, according to company filings.

Zuckerberg was paid a base salary of $483,333, a performance bonus of $445,500, and $783,529 in "all other compensation." What that meant was written in very tiny print in Facebook's prospectus, so tiny that it might have been missed by almost anyone:

The amount reported represent approximately $692,679 for costs related to personal use of aircraft chartered in connection with his comprehensive security program and on which family and friends flew during 2011. For purposes of reporting the value of such personal usage in this table, we use costs provided by the applicable charter company, which include passenger fees, fuel, crew and catering costs. The amount reported also represents approximately $90,850 for costs related to estate and financial planning during 2011.

Essentially, Zuckerberg got his private jets and stockbroker fees for free. Seems like a nice work if you can get it.

But Zuckerberg isn't the only tech CEO that has expensive travel habits. Zynga's Mark Pincus has a $1 million security detail, according to Business Insider. The report suggested that Zuckerberg can't fly commercial because he would be subject to "stalkers and other kinds of crazy."

Be that as it may, it still doesn't explain why Pincus has such a hefty security bill -- especially when Zynga stock is trading at less than $3 a share.

Related Topics Facebook, Mark Zuckerberg, private jets, Mark Pincus, Zynga

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