Here’s one little bit from Facebook’s initial public offering that were reminded of last night: Facebook spent about $700,000 on private charter flights for CEO Mark Zuckerberg last year.It’s not like Zuckerberg is jet-setting, though. The flights are private because the intent is to keep Zuckerberg, the CEO of a company whose service is used by nearly a billion people, safe from stalkers and other kinds of crazy people.
This includes trips with friends and family members that in other circumstances would be on regular commercial flights—it’s just that going private is the safer option, since security can control every aspect of the flight. SEC regulations require companies to disclose the value of these flights as if they were compensation.
Zuckerberg’s security costs seem low compared to other CEOs. Zynga CEO Mark Pincus, for example, has a security detail that costs more than $1 million. Jeff Bezos at Amazon also appears to have a security detail that costs more than $1 million, according to a filing with the Securities and Exchange Commission.
Here’s the full brief from the company’s most recent filing with the Securities and Exchange Commission:
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.