Former UK politician Nick Clegg has made millions from his role at Meta, the company that owns Facebook, despite facing criticism for taking the job.
Nick Clegg was heavily criticised for taking the role of Facebook ’s vice‑president for global affairs and communications in 2018. He has made almost $19m (£15.3m) from the sale of shares in Meta since he joined the owner of Facebook , Instagram and WhatsApp six years ago. His total pay at Meta has not been disclosed but he still holds almost 39,000 of the company’s shares, worth about $21m at their current price.
The former leader of the Liberal Democrats was heavily criticised for taking a role as Facebook’s vice‑president for global affairs and communications in 2018. At the time he was a leading supporter of the People’s Vote campaign and part of a high-powered pro-remain group of former politicians lobbying to stop Brexit.for his abrupt exit from the fight, Clegg said that, once he had signed up to join the Silicon Valley company and decided to relocate to the US, he might as well leave as soon as possible. “I have mixed feelings about leaving the UK’s public debate about the future of our country’s relations with the rest of Europe,” he said, “The Brexit drama will soon move to – and possibly culminate in – the place where it arguably belonged all along, in parliament. I will no longer seek to play a public role in that debate. Once I had decided to accept a new role in Facebook, there was little merit in delaying my move any longer.” Nonetheless, his decision to accept the high-profile role, at a time when the company was struggling to cope with mounting political pressure over issues including fake news, data protection and government regulation, has proved to be hugely lucrative. Filings at the US Securities and Exchange Commission (SEC) showed that Clegg’s most recent sale of shares was in November at a market value of just over $4m, although the exact gross proceeds of the latest transaction have yet to be made publi
BUSINESS POLITICS TECH META FACEBOOK
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shares of Grupo Elektra Plunge, Richest Mexican Loses FortuneShares of Grupo Elektra have fallen to a 15-year low, wiping $US5.8 billion from the fortune of its controlling shareholder Ricardo Salinas Pliego and pushing him out of the world’s top 500 wealthiest list. Salinas’ lawyers claim a creditor used the company’s shares for a $US110 million loan, leading to a sharp decline in the stock price.
Read more »
Axon CEO Rick Smith's Fortune Surges to $2.5 BillionAxon Enterprise modelled its CEO pay package after Elon Musk's incentives at Tesla, leading to a significant increase in Rick Smith's net worth to approximately $2.5 billion. The company's rising stock price and Smith's high-risk, high-reward pay package are credited for the surge.
Read more »
A Furby now worth $180,000: The vintage toys that are now worth a small fortuneSome of these toys might well be kicking around in a box in your attic. Depending on how good their conditi...
Read more »
Business World's Brightest Lights of 2024: Fame, Fortune, and ScandalAs the year 2024 draws to a close, Agenda page reflects on the most notable figures in the business world. From Rupert Murdoch's sudden death to Rachel Reeves' historic rise, the article highlights the triumphs, controversies, and enduring impact of key players in the year's economic landscape.
Read more »
New York Misadventures: Fortune Tellers, Missed Connections, and Unexpected EncountersA traveler in New York City experiences a series of comical mishaps. From a fortune teller's ominous prediction to a string of unanswered texts from a friend, the traveler finds themselves navigating the city's chaos. Amidst the confusion, a chance encounter on a dating app sparks an unexpected connection.
Read more »
Keir Starmer Pays Tribute to Brother Nick Who Died at 60Prime Minister Keir Starmer has mourned the loss of his younger brother, Nick, who passed away on Boxing Day at the age of 60 after a battle with cancer. Nick faced numerous challenges throughout his life, including learning difficulties stemming from complications during his birth. Despite these obstacles, he persevered and worked in various trades. Starmer fondly remembers his brother as a courageous and optimistic individual who touched the lives of many.
Read more »