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Mark Zuckerberg Spent $700,000 On Private Jets In 2011
Big-name IPOs are those rare events that let you peel back the curtain and see what has been going on inside the walls of these big corporate entities. Such is the case with Facebook who due to its impending IPO has had to be revealing intimate details of its operations. The latest details to catch the eye of everyone are the compensation and perks that Facebook’s employees have enjoyed over the last year.
No employee gets more attention than Zuckerberg and the Facebook IPO detailed some juicy details about how much he earns and what he spends money on. According to the S-1 filing, Zuckerberg earned a base of $483,333, plus a $220,500 bonus. Other compensation worth $783,529 was also listed but details are sketchy. But perhaps the most salacious bit of information is the fact that Zuckerberg spent nearly $1 million ($700,000) on private jets over the course of 2011.
News from the fling also revealed that Facebook’s COO, Sheryl Sandberg who earned a base salary of $300,000 last year, actually made in total compensation over $30.87 million. This means she earned more than Zuckerberg but in the grand scheme of things and with Zuckerberg’s 28% stake in the company, this is peanuts. After the IPO Zuckerberg will be worth at least $1 billion and everyone knows that corporate luminaries don’t take much in terms of direct salaries since they are taxed too heavily. It’s all in the perks, grants and funds.