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Meta increases its budget by $4 million to protect Mark Zuckerberg

Meta defended the company’s decision to increase this budget. | Fountain: AFP

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Target announced that it would increase the CEO and Founder’s allowance by $4 million. Mark Zuckerberg.

The entry, which brings the security total to $14 million a year, comes amid new rumors of new layoffs at the company.

Security for Zuckerberg

Target notes that “this increase in appropriations, along with spending on Zuckerberg’s existing security program, is appropriate in the circumstances.”

The CEO of the company, at age 38, is the 16th richest person in the world according to the Forbes list of billionaires.

However, the move comes at a difficult time when Zuckerberg has cut thousands of jobs and several of his projects.

The Financial Times reported that the Meta is even preparing for a new round of staff cuts that would delay the finalization of budgets for several teams.

Numbers

Earlier this month Target announced that it expects its 2023 spending to be between $89 billion and $95 billion, with chief executive Mark Zuckerberg described this period as “The Year of Efficiency”.

Target, despite being in the red with his foray into the metaverse, wants to compete in a new and growing market: artificial intelligence. The company itself is already working on generative artificial intelligence, which creates works from text.

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Source: RPP

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