Home Business Matter Sir Nick Clegg wins ‘£10m promotion bonus’ with new Meta function

Sir Nick Clegg wins ‘£10m promotion bonus’ with new Meta function

Sir Nick Clegg wins ‘£10m promotion bonus’ with new Meta function

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Sir Nick Clegg was paid a bonus value virtually £10 million when he was promoted to his new function at Meta, the proprietor of Fb, it was reported yesterday.

The previous deputy prime minister acquired the sum as a part of a inventory bundle this 12 months, based on Bloomberg. The bonus coincided along with his promotion to president of world affairs on the firm and comes on prime of his annual wage, which has been reported as being about £2.7 million.

It additionally doubled the entire worth of shares he has acquired since becoming a member of the corporate three years in the past, Bloomberg mentioned.

Clegg, 55, has led Meta’s response to the conflict in Ukraine, the place he modified the social media big’s guidelines to permit Ukrainians to induce violence in opposition to Russian troops.

Nonetheless, he rejected requests by President Zelensky to dam Fb and Instagram in Russia to cease the Kremlin utilizing the platforms to put up state propaganda, arguing that it will forestall folks within the nation organising protests and receiving dependable details about occasions in Ukraine.

Clegg has additionally had negotiations with Russian authorities officers, who demanded Fb cease fact-checking posts from state-backed media accounts akin to RT and Sputnik, which he rejected. He has blocked RT and Sputnik from Fb in Europe and the UK. The Kremlin retaliated by banning Fb and Instagram.

Clegg, who has been criticised within the UK over his function in opposing plans to control social media firms, has mentioned that his promotion makes the corporate extra agile in its response to the conflict in Ukraine as he can act independently of Mark Zuckerberg, Meta’s chairman and chief govt. Meta didn’t touch upon Clegg’s reported bonus.

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