The murder of UnitedHealthcare CEO Brian Thompson has cast a spotlight on the extensive security measures employed by Wall Street's elite to ensure their safety. With the increasing risks associated with high-profile roles, companies are shelling out significant amounts to protect their top executives. Big tech firms like Google, Amazon, and Tesla are among the many that prioritise personal security for their CEOs. These measures often include personal security details, private transportation, and state-of-the-art security systems, adding millions to operational costs annually.
Microsoft CEO Satya Nadella
A prime example is Microsoft's CEO, Satya Nadella. Microsoft ramped up security for its CEO, allocating over $58,000 for his travel security this year. This figure was disclosed in the company's SEC filing on October 24. Mr Nadella, set to earn $79.1 million this year, had previously requested a pay reduction to offset rising security expenses after multiple incidents earlier in the year, CNBC first reported.
Tesla CEO Elon Musk
In the first two months of 2024, Tesla spent $500,000 on Elon Musk's security, more than five times what was spent in the same period in 2019. This follows a significant increase in security costs, with Tesla disclosing $2.4 million spent on Mr Musk's protection in 2023. Between 2015 and 2018, Mr Musk's monthly security expenses averaged $145,000. His protection is managed by high-profile firms, including Gavin de Becker & Associates and his own Foundation Security.
BlackRock CEO Larry Fink
World's largest asset manager, BlackRock, doubled its security spending for CEO Larry Fink in 2023, as per security filings. The company spent $216,837 on personal security guards and $563,513 on upgrading Mr Fink's home security system.
Google CEO Sundar Pichai
Last year, Alphabet spent over $6.7 million on CEO Sundar Pichai for expenses, including security, retirement contributions, company vehicles, and other benefits, as per a Securities and Exchange Commission filing. These expenditures formed the bulk of his total compensation package, exceeding $6.8 million.
Amazon CEO Andy Jassy
In 2023, Andy Jassy's transportation costs totalled $986,164, covering business travel and security upgrades, as per a Quartz report. His compensation dropped compared to 2022, largely due to a decline in Amazon's stock price and fewer restricted stock units. The stock price fell from $156.51 in 2022 to $143.90 in 2023, as per filings.
