Facebook CFO tops Zuckerberg's pay

Been browsing Facebook's IPO prospectus. Trawled over this week by commentators, the document,read in depth, produces some fascinating snippets. Here's some that kept me reading.

First, Mark Zuckerberg, Facebook's founder and CEO, appears to have settled for a base salary of just $1 (yes, that's right a single dollar) from January 2013. His salary in 2011, the prospectus reveals, was a handy half a million. One assumes Zuckerberg feels that money made on flotation and presumably bonuses, will be ample reward.

Also interesting is the sum spent ferrying Zuckerberg around in private jets, which ran to $690,00 last year. The prospectus declares it was part of a comprehensive security plan for the CEO.

According to a declaration on the board's remuneration chief financial officer David Ebersman was paid much more than Zuckerberg. 2011 saw the finance chief bag salary and stock options worth $18.6m, against his CEO's $1.4m. Base salary for Zuckerberg was $500,000 while Ebersman took home £300,000. Zuckerberg, let's not forget, is the largest stock holder with a  28.4% share, though he controls a tad over 57%.

With revenues of $3.7bn last year, Facebook appears to have an enviable balance sheet too. $6.6bn of assets against $1.4bn of liabilities. That includes $2.3bn of cash, or cash equivalents.

Which makes you wonder. Why bother with an IPO?


Post a Comment