Nick Clegg has pocketed £12million in two years selling shares in Meta where he is a boss after quitting politics.
Our discovery triggered outrage among families campaigning to protect kids on social media in the wake of tragedies like the death of schoolgirl Molly Russell.
Meta owns Facebook, Whats-App and Instagram – where Molly viewed suicide and self-harm posts before killing herself aged 14. Sir Nick, who led the Lib Dems and was deputy PM in the coalition government, is now president of global affairs at Meta. We can reveal he has made £11.99million by selling over 60,000 shares in nine transactions since May 2022. Last night Molly’s dad Ian said: “As Nick Clegg cashes in, Meta continues to rake in colossal profits while failing to invest sufficiently in children’s safety.”
Nick Clegg with Facebook founder Mark Zuckerberg (AFP via Getty Images)Mr Russell, chair of the Molly Rose Foundation, set up in memory of the teenager who died in 2017, added: “Every day, thousands of children encounter harm on Facebook and Instagram because of the business decision to put the bottom line before taming toxic algorithms and taking down appalling suicide and self-harm posts.
“Perhaps Meta might be more on the front foot when it comes to children’s safety if its bosses’ bonuses and share options were linked to long overdue safety improvements.”
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Molly's father Ian Russell (Humphrey Nemar /daily mirror)Last week Mr Russell, from Harrow, north London, was among a group of bereaved parents who warned the Government’s Online Safety Act does not go far enough. And on Thursday, the European Commission announced it was probing Meta over concerns it is failing to protect children. Esther Ghey, whose daughter Brianna was murdered in Warrington, Cheshire, by teens said to be obsessed with violence online, said: “I passionately believe we need to create a safer environment for our children online.”
Brianna Ghey and mother EstherLisa Kenevan and Hollie Dance from the Bereaved Families for Online Safety said: “It just proves it’s profit over safety. Nick Clegg’s silence through the whole Online Safety Act is disgraceful and just proves his global affairs are truly ruled by his financial interests.”
Sir Nick, 57, lost his Sheffield seat in 2017 and joined Facebook the next year. He reportedly bought a California mansion for £6.7m and flogged it nearly four years later for £10.3m. He is said to have bagged a £10m bonus after he was promoted to Meta’s global affairs head in February 2022. Meta, whose first quarter profits more than doubled this year, said: “We are deeply committed to helping keep teens safe.”
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