News: Amazon expends $1.6 million on CEO Jeff Bezos' security

Compensation & Benefits

Amazon expends $1.6 million on CEO Jeff Bezos' security

Reportedly, Amazon has spent $1.6 million on security of CEO Jeff Bezos last year.
Amazon expends $1.6 million on CEO Jeff Bezos' security

As per the company filing, e-commerce major, Amazon has spent around $1.6 million on the security of their CEO and Founder Jeff Bezos, according to the media report. The money expended is nearly accounting for all of his compensation. 

The payment made towards his security cost is additional to other facilities bestowed by Amazon including his cost on business travel etc. This information is obtained from company filing made to the Securities & Exchange Commission.

Amazon has reportedly declared Bezos' security expenses as "reasonable" highlighting that equivalent amount was spent in 2015 on his security.

Jeff Bezos is the largest shareholder of Amazon with compensation of $1.68 million, which reportedly he earned last year. Bezos earned only $81,840 in salary for the year and no stock options.He is notably listed as World’s second richest person with net worth of approximately $75.6 billion besting Warren Buffet in the index. 

Looking at the trend closely, Oracle had spent $1.5 million for Founder and Chairman Larry Ellison in 2015 and Apple had spent just over $200,000 in 2015 for CEO Tim Cook.

Amazon entered Indian e-commerce market quite late in June 2013 and gave good competition to existing thriving online retailers including Flipkart (2007) and another rival Snapdeal (2010). In terms of sales and operations, in 2016, Amazon India raced ahead Snapdeal and Flipkart, making its presence felt in the market.

 

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Topics: Compensation & Benefits

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