The most important tech corporations on the earth are shelling out thousands and thousands of {dollars} yearly to guard their CEOs—however some pay greater than others, and for good purpose.
Among the many beneficiant perks awarded to high executives, safety prices will be among the many priciest, particularly on the subject of high-profile enterprise leaders. These safety prices embrace every thing from dwelling monitoring to private bodyguards and safety consulting which come at a giant value to corporations, relying on the chief.
Invoice Herzog, the CEO of Arizona-based LionHeart Safety Companies, informed Fortune that it’s vital for corporations to put money into defending their CEO, particularly in the event that they’re among the many richest folks on the earth, like Meta’s Mark Zuckerberg and Tesla’s Elon Musk. Herzog, whose firm has supplied safety for politicians and different excessive profile people, mentioned that these sorts of movie star CEOs may particularly be focused. And if one thing had been to occur to them, the corporate will be the one to take the hit financially and reputationally, he added.
“When you’re talking about somebody who’s worth millions of dollars or billions of dollars, and they are in charge of an entire company, there is a real possibility of kidnapping, there’s a real possibility of extortion, there’s a real possibility of attempts on their lives,” Herzog mentioned.
For round the clock safety, a service that requires specifically educated safety specialists and particular assets, Herzog mentioned his firm would cost $60 an hour or extra, a sum that would deliver the entire invoice to upwards of $1 million per 12 months for 2 guards.
But, some corporations pay out way more than that to guard their chief executives. Listed here are a few of the tech corporations that pay essentially the most:
Meta
Meta pays over thrice greater than the following closest tech firm on the checklist to guard its longtime CEO and founder Mark Zuckerberg. In 2023, the corporate spent a complete of $23.4 million for Zuckerberg’s private safety, together with $9.4 million in direct safety prices and one other $14 million in an annual pre-tax allowance meant to “cover additional costs related to Mr. Zuckerberg and his family’s personal security.”
In earlier years, Meta has paid out much more to guard Zuckerberg, with the invoice for his private safety exceeding $24 million and $25 million in 2022 and 2021, respectively, in response to a submitting with the Securities and Alternate Fee (SEC).
The corporate paid these massive safety funds, “for the company’s benefit because of the importance of Mr. Zuckerberg to Meta,” in response to the submitting. Zuckerberg is particularly in danger due to his place, the corporate argues.
“We believe that Mr. Zuckerberg’s role puts him in a unique position: he is synonymous with Meta and, as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg,” the corporate wrote within the SEC submitting.
Fortunately, Zuckerberg can be a giant aficionado of blended martial arts.
Alphabet
Alphabet CEO Sundar Pichai talks rather a lot about cybersecurity, however his private safety can be high of thoughts for his firm. In 2023, the tech large forked over $6.8 million for Pichai’s private safety, in response to a submitting with the SEC.
The corporate additionally pays for an organization automobile and his use of “non-commercial aircraft,” e.g. the non-public jet.
Tesla
Tesla’s Elon Musk isn’t any stranger to the limelight, and his private safety invoice displays that. Tesla paid $2.4 million in 2023 to a safety firm owned by Musk for safety companies, together with one other $500,000 by means of February of this 12 months, in response to an SEC submitting.
The bombastic CEO’s steep safety prices are apparently very mandatory. In July, Musk mentioned in a submit on X that two separate folks had tried to kill him within the final eight months.
“They were arrested with guns about 20 mins drive from Tesla HQ in Texas,” Musk wrote.
After the failed assassination try on Donald Trump in July, Musk mulled taking his safety into his personal arms.
“Maybe it’s time to build that flying metal suit of armor [sic],” Musk mentioned in a submit on the time.
Nvidia
For one of many star CEOs of the second, Nvidia spends comparatively lower than its tech friends on CEO Jensen Huang’s safety. In its fiscal 2024, the corporate spent about $2.2 million on residential safety and session charges for Huang, plus lots of of 1000’s on safety monitoring companies and automobile and driver companies, in response to a submitting with the SEC.
Whereas Huang as soon as mentioned Jackie Chan could be greatest suited to play him in a film, Huang undoubtedly doesn’t have Chan’s martial arts abilities.
Apple
Though Tim Prepare dinner will not be as well-known as his predecessor, the long-lasting Steve Jobs, he’s nonetheless Apple’s most profitable CEO, and the corporate needs him round for a few years extra.
Apple paid $820,309 for bills associated to Tim Prepare dinner’s safety in 2023, which, whereas not a pittance, was nonetheless lower than the $1.6 million it paid for his non-public jet use.
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