Facebook Inc. and Amazon.com Inc. record highs last year, with social media firm Mark Zuckerberg leading so-called FAANG companies in discounts aimed at impressing Washington, according to recorded publications late Thursday.
Facebook FB,
it raised $ 19.7 million last year, well above the 2019 total of $ 16.7 million, its publications show. Amazon AMZN,
reported to have spent at least $ 18.5 million in 2020 vs. $ 16.1 million a year earlier.
The other three FAANG companies – Apple Inc. AAPL,
GOOG at Alphabet Inc.,
GOOGL,
Google Business and Netflix Inc. NFLX,
– did not set records with their 2020 lobbying costs.
Apple said it paid out $ 6.7 million last year, down from a high of $ 7.4 million in 2019. Google spent $ 8.7 million last year, down sharply from a record high of $ 7.7 million last year. $ 21.7 million back in 2018, before the research giant reorganized its lobbying efforts. Netflix revealed that they spent just $ 750,000 in 2020, down from a 2015 high of $ 1.3 million.
The spending has come as Big Tech increasingly finds itself at the crossroads of U.S. lawmakers and regulators on a number of issues, with both Republicans and Democrats questioning the power of Silicon Valley companies.
See: Big Tech has a trust target on its back, and it’s not going to grow
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But FAANG investors aren’t looking so scared about Washington, as the stock of all five companies has surpassed the S&P 500 increase of 16% over the past 12 months. Facebook stock has traded 23% over that period, Amazon shares have gone up 75%, and Apple is up 72%. Netflix has got 78% and Alphabet 27%.
Facebook revelations show that he lobbied on issues such as internet privacy, election security, employee visas and freedom of expression, while Amazon said there was a focus on issues ranging from mail reform to unmanned aerial vehicles, and from payroll processing to autonomous vehicles and the annual protection bill.