The Blubber

Per Fortune

In total, S&P 500 companies spent $41.3 million on private jets, according to Financial Times, with Meta spending the most, as it was responsible for $2.3 million of that amount on Mark Zuckerberg alone. The company also spent for other executives as well.

As reported, Meta spent more on another executive, the company's chief operating officer, Sheryl Sandberg, as the company paid over $4 million for her private flights, according to Meta's annual report.

It was reported that only three other companies in the S&P 500 spent over $1 million on private jets for its CEOs. This included Netflix, Lockheed Martin, and Las Vegas Sands.

The total spent on private flights in 2022 was reportedly a 22% increase from its 2021 spending. During that time, spending on private jets was already at a 10-year high.

In April, it was reported that Meta cut back on free cafeteria meals. This came after the company had already eliminated free laundry and dry cleaning for its staff.

It was also reported that although Meta's Mark Zuckerberg decided to retain his $1 salary, his compensation reportedly increased from $26.82 million to $27.11 million, with $14.82 million alone spent on his personal security detail.

See flow at unusualwhales.com/flow.

Other News:

• META has cut back on free cafeteria meals, having previously eliminated free laundry and dry cleaning for staff
• Meta's Mark Zuckerberg retained his $1 salary but increased his compensation

Resources:

Fortune