What is Nick Clegg’s Salary & Net Worth?

As Deputy Prime Minister, Nick Clegg would have had a salary of about £134,565 annually according to BBC’s Newsbeat — not too shy of the £142,500 that then prime minister David Cameron would have received when they were in coalition together.

He’s since moved on from his political era into the world of the private sector, and is enjoying the monetary benefits that come forthwith.

How much is Nick Clegg making at Facebook as VP?

It was reported in 2019 that Nick Clegg was earning about £498,289 annually for his role as ‘Vice President, Global Affairs & Communications’, a steep increase from his old salary as Deputy Prime Minister of the United Kingdom.

On his move to the US, he also bought a luxury house for his family in late 2018 for £7m:

Nick Clegg’s house in Atherton, near San Francisco, California

His neighbours include Eric Schmidt, former chairman of Google, and Facebook deputy Sheryl Sandberg is also believed to live nearby.

The Sun

He also owns a townhouse in London worth about £2 million:

Nick Clegg’s £2million townhouse in South West London

What is Nick Clegg’s Net Worth?

With a house alone in South West London worth £2m and a house in California worth £7m, he’s worth at least £9m on paper. Though a sizeable mortgage was reportedly taken out to purchase the house in California, according to The Sun.


Nick Clegg Reaffirms Support of Mark Zuckerberg on Twitter

Nick Clegg was trending on Twitter on the 8th after he had tweeted a Facebook message supporting Mark Zuckerberg’s move at Facebook to ban / suspend Donald Trump on Facebook.

More directly, Nick Clegg reaffirmed the Facebook boss and said:

After yesterday’s violence at the U.S. Capitol, we’ve determined that the risks of allowing President Trump to continue using our service are simply too great.

Nick Clegg

The move to block the President on social media was after the violence that occurred in the U.S Capitol where 5 people died and more were seriously injured on January, 6th 2021.

Social media giants like Facebook have been announcing bans on Mr. Trump’s social media profiles – with Twitter even going as far as removing content on the @POTUS handle.


Does Facebook Benefit From Hate?

In July, Nick Clegg posted on Facebook’s corporate website that “Facebook does not benefit from hate“. In the article, he starts with the following opener:

When society is divided and tensions run high, those divisions play out on social media. Platforms like Facebook hold up a mirror to society — with more than 3 billion people using Facebook’s apps every month, everything that is good, bad and ugly in our societies will find expression on our platform. That puts a big responsibility on Facebook and other social media companies to decide where to draw the line over what content is acceptable.

Nick Clegg, Vice President, Facebook

It covers off the societal divisions, and how Facebook has 3 billion active users accessing its app every month. This is important as Facebook obviously have a scale issue. With so many people using Facebook, moderating and managing what gets posted, hate or not, they are unable to see and action everything that goes on the platform.

In fact, Andrew Marr highlighted a case where user reports were used to take down a page soliciting physical harm to others. Nick said that they had not taken down the page & post fast enough, so this confirms that they do manual interventions and have a ‘queue’ to address things that have been reported that perhaps Facebook’s internal systems were unable to flag.

Nick Clegg highlighted this in his interview today with Andrew Marr and in the Facebook post:

Unfortunately, zero tolerance doesn’t mean zero incidences. With so much content posted every day, rooting out the hate is like looking for a needle in a haystack. We invest billions of dollars each year in people and technology to keep our platform safe. We have tripled — to more than 35,000 — the people working on safety and security.

We’re a pioneer in artificial intelligence technology to remove hateful content at scale.

Nick Clegg, Vice President, Facebook

So, does Facebook benefit from hate?

Facebook made an eye watering $69bn in revenue from ads in 2019 and made a profit of about $18.4bn in profits.

Nick mentions that Facebook ‘invests billions of dollars each year in people and technology to keep our platform safe’; however, data isn’t available to see what the actual cost of them policing the platform amounts to vs what they make from ads that would fall under the “hate” category.

It’s likely that Facebook do initially benefit (at least monetarily) from “hate ads”, and whether it costs in after Facebook pay for everything to try and combat “hate ads” by employing people and spending a significant amount of time building machine learning algorithms is only something that Facebook would be able to calculate and confirm.