We thought trustworthy childcare was expensive, but protecting adults can break the bank. It’s a good thing these billionaire CEOs can afford to pay for a little extra protection.
Providing security for high-profile business leaders can encompass everything from monitoring residences to providing personal bodyguards and security advisory services, reported Fortune.
“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,” Bill Herzog, the CEO of Arizona-based LionHeart Security Services, told Fortune.
Let’s take a look at Meta CEO and Founder Mark Zuckerberg.
Meta allocated $23.4 million in 2023 for the personal security of Zuckerberg, comprising $9.4 million in direct security expenses and an additional $14 million as an annual pre-tax allowance intended for “covering extra expenses associated with Mr. Zuckerberg and his family’s personal security.”
What about Tesla’s Elon Musk? In 2023, Tesla provided $2.4 million to a security firm owned by Musk for security services. Additionally, they also paid an additional $500,000 through February of the current year, as reported in an SEC filing cited by Fortune.
Musk has needed this extra protection, as in July, he stated that two different people had tried to kill him in the last eight months.
Dangerous times ahead.
Two people (separate occasions) have already tried to kill me in the past 8 months. They were arrested with guns about 20 mins drive from Tesla HQ in Texas.
— Elon Musk (@elonmusk) July 14, 2024
In 2023, Apple incurred expenses of $820,309 for CEO Tim Cook’s security, which, interestingly, was still lower than the $1.6 million spent on his private jet usage, per Forbes.
Providing extra security for individuals like Zuckerberg, Musk, and Cook appears warranted, given that their passing could significantly affect their companies.
Musk is currently ranked the richest man in the world, according to Forbes India, last updated on September 12. Zuckerberg ranked No. 4, and Cook didn’t make the top ten.
Here are the “Top 10 richest people in the world” per Forbes, their net worth in billions:
1. Elon Musk $250.5 – Tesla, SpaceX, X, United States
2. Jeff Bezos $198.0 – Amazon, Blue Origin, The Washington Post, United States
3. Larry Ellison $191.0 – Oracle Corporation, United States
4. Mark Zuckerberg – $174.9 Meta Platforms, Inc. (Facebook, Instagram, WhatsApp), United States
5. Bernard Arnault & family – $172.3 LVMH, France
6. Warren Buffett – $144.3 Berkshire Hathaway, United States
7. Bill Gates – $137.2 Microsoft, United States
8. Larry Page – $124.6 Alphabet Inc., United States
9. Steve Ballmer – $121.9 Microsoft, United States
10. Sergey Brin – $119.5 Alphabet Inc., United States