The largest tech firms on the planet are shelling out thousands and thousands of {dollars} yearly to guard their CEOs—however some pay greater than others, and for good cause.
Among the many beneficiant perks awarded to high executives, safety prices could be among the many priciest, particularly relating to high-profile enterprise leaders. These safety prices embody every little thing from dwelling monitoring to non-public bodyguards and safety consulting which come at an enormous value to firms, relying on the manager.
Invoice Herzog, the CEO of Arizona-based LionHeart Safety Providers, instructed Fortune that it’s vital for firms to put money into defending their CEO, particularly in the event that they’re among the many richest individuals on the planet, like Meta’s Mark Zuckerberg and Tesla’s Elon Musk. Herzog, whose firm has offered safety for politicians and different excessive profile people, mentioned that these sorts of movie star CEOs may particularly be focused. And if one thing have been to occur to them, the corporate would be the one to take the hit financially and reputationally, he added.
“Whenever you’re speaking about anyone who’s value thousands and thousands of {dollars} or billions of {dollars}, and they’re in control of a complete firm, there’s a actual chance of kidnapping, there’s an actual chance of extortion, there’s an actual chance of makes an attempt on their lives,” Herzog mentioned.
For round the clock safety, a service that requires specifically educated safety specialists and particular sources, Herzog mentioned his firm would cost $60 an hour or extra, a sum that might carry the entire invoice to upwards of $1 million per 12 months for 2 guards.
But, some firms pay out way more than that to guard their chief executives. Listed below are among the tech firms that pay essentially the most:
Meta
Meta pays over 3 times greater than the following closest tech firm on the listing 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 “cowl further prices associated to Mr. Zuckerberg and his household’s private safety.”
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, based on a submitting with the Securities and Change Fee (SEC).
The corporate paid these massive safety funds, “for the corporate’s profit due to the significance of Mr. Zuckerberg to Meta,” based on the submitting. Zuckerberg is particularly in danger due to his place, the corporate argues.
“We consider that Mr. Zuckerberg’s function places him in a singular place: he’s synonymous with Meta and, in consequence, destructive sentiment relating to our firm is immediately related to, and sometimes transferred to, Mr. Zuckerberg,” the corporate wrote within the SEC submitting.
Fortunately, Zuckerberg can also be an enormous aficionado of combined martial arts.
Alphabet
Alphabet CEO Sundar Pichai talks rather a lot about cybersecurity, however his private safety can also be high of thoughts for his firm. In 2023, the tech big forked over $6.8 million for Pichai’s private safety, based on a submitting with the SEC.
The corporate additionally pays for a corporation automobile and his use of “non-commercial plane,” e.g. the non-public jet.
Tesla
Tesla’s Elon Musk is not 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, based on an SEC submitting.
The bombastic CEO’s steep safety prices are apparently very obligatory. In July, Musk mentioned in a submit on X that two separate individuals had tried to kill him within the final eight months.
“They have been arrested with weapons about 20 minutes 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 palms.
“Perhaps it’s time to construct that flying metallic swimsuit 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 a whole bunch of hundreds on safety monitoring companies and automobile and driver companies, based on a submitting with the SEC.
Whereas Huang as soon as mentioned Jackie Chan could be greatest suited to play him in a film, Huang positively doesn’t have Chan’s martial arts expertise.
Apple
Though Tim Cook dinner isn’t as well-known as his predecessor, the long-lasting Steve Jobs, he’s nonetheless Apple’s most profitable CEO, and the corporate desires him round for a few years extra.
Apple paid $820,309 for bills associated to Tim Cook 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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