The target exceeds 10 million, and Musk defends himself

Large technology companies have achieved such economic power that some of them command annual operating budgets that exceed the GDP of small countries such as Andorra, Monaco or Luxembourg. Their leaders have thus acquired a strategic importance similar to that of heads of state.

Companies like Meta, Tesla, Google or Intel spend fortunes protecting the security of their top managers.

1. Mark Zuckerberg (goal): $10,399,967

Those responsible for Meta must be genuinely concerned about the safety of its CEO and founder, Mark Zuckerberg. In addition to warnings about the high-risk activities its top management is exposed to, Meta adds astronomical budgets to protect Mark Zuckerberg’s safety.

Meta has allocated $9,431,139 to enhance Zuckerberg’s personal security at his residences and during his travels in 2023. To this figure must be added the $968,828 that the millionaire billed Meta for private jets and transportation. Overall, US$10,399,967.

Over the past three years, that figure has been gradually declining. In 2022, more than $14.83 million was paid out against collateral, and in 2021, that figure rose to nearly $15.2 million. But that’s not all.

Meta budgets $14 million annually (in addition to $9.4 million for the CEO’s personal security) to cover additional costs associated with the personal security of Mark Zuckerberg and his family. According to Meta’s public filings, including the amount set aside for additional expenses (which do not always occur), Meta has set aside a total of $24,399,967 to protect the security of its CEO and founder.

2. Sundar Pichai (“Alphabet”): $6.77 million.

Some may think that the safety of these “star managers” is somewhat exaggerated. However, companies have beefed up security for their top executives following past incidents. Google has beefed up security for Sundar Pichai after an armed woman stormed YouTube’s offices, leaving three employees injured before the woman killed herself.

Since then, Sundar Pichai’s security budget has continued to increase. As published Business InsiderIn 2021, Alphabet paid $4,309,583 to defend its CEO. In 2023, this figure increased to 6,775,631 US dollars is intended for the personal safety of Alphabet’s CEO, as reflected in the public reports the company shares with its shareholders.

3. Marc Benioff (Salesforce): $4.64 million.

Salesforce takes the safety of its CEO Marc Benioff very seriously, so much so that the company has set aside a whopping $3,052,683 in 2023 just to ensure his safety. Part of that budget is used to enhance the security of senior management while they are in the office or traveling for work, which is reflected in the public reports the company is required to provide to its shareholders.

According to the software company, in addition to the security budget, $1,593,667 was allocated to cover Benioff’s “work-related travel on a private jet, primarily between his permanent residence and the company’s headquarters in San Francisco, California , or other commercial destinations.” “

The total amount Salesforce has committed in 2023 to defend its CEO is US$4,646,350.

4. Jensen Huang (NVIDIA): $2.46 million

NVIDIA is one of the most publicly traded companies in the world, and Jensen Huang is the architect of this business miracle. Given the company’s strategic importance to the company, NVIDIA has spent a significant amount of money on its security.

As a publicly traded company, you can find a section in the annual report to shareholders detailing that NVIDIA allocated $2,229,935 in 2023 for housing security and consulting services for the CEO.

In addition, the company spent $234,134 on security checks and private transportation services with a trained driver to ensure the safety of its CEO. The total amount allocated for Jensen Huang’s security is $2,494,973 USD.

5. Elon Musk (Tesla): $2.4 million.

One of Elon Musk’s common practices at his companies is to hire others while they are running their businesses. Tesla, for example, bought ads on X before voting at a shareholder meeting, and SpaceX routinely rents The Boring Company’s private jet for executive travel. In essence, the money changes pockets, but it’s always Musk’s.

Following this strategy, Tesla hired the security services of Elon Musk’s company to protect Elon Musk himself, according to what was published by the company itself in a public document. Possibly after the alleged threats that, according to Business Insiderits CEO has recently suffered, the company decides to increase these allocations, or perhaps this is just another Elon Musk ploy.

According to Tesla, “In December 2023, we entered into a service agreement with a security company owned by Elon Musk and arranged for the provision of related security services, including his responsibilities and employment at Tesla. Tesla incurred expenses of approx. $2.4 million for such security services in 2023 and approximately US$500,000 through February 2024, which represents a portion of the total cost of security services associated with Elon Musk.”

6. Tim Cook (Apple): $2.44 million.

In 2023, Apple will spend 2,441,777 US dollars in ensuring the safety of its top manager. Of that more than $2.44 million, $820,309 was for Tim Cook’s personal security, and $1,621,468 corresponds to expenses associated with the use of a private jet for the CEO.

As detailed in a document the company sends to its shareholders, “for safety and efficiency reasons, the board of directors requires Mr. Cook to use a private aircraft for all business and personal travel.”

These allocations are a significant increase from the budget Apple has reserved for the concept. In 2022, $591,196 was allocated to pay for his personal security, and $767,319 was allocated to maintain the private jet that his CEO is to use.

7. Jeff Bezos (Amazon): $1.6 million.

Although Jeff Bezos no longer officially holds the position of CEO, a position held by Andy Jassy (which we’ll get to in a moment), Amazon continues to bear the security costs of its founder and largest individual shareholder.

According to a document filed with the SEC, Amazon has been allocating a fixed annual budget of at least 2020 $1.6 millionThe company’s goal is to ensure Jeff Bezos’ personal safety, even though he is no longer the company’s CEO.

According to a breakdown of that premium, the amount “represents the approximate aggregate additional cost to Amazon of Mr. Bezos’s security premium in addition to the security premium provided at commercial facilities and on business travel,” Amazon’s report clarified.

How published Business InsiderAmong the security measures Jeff Bezos would take in his offices is installing bulletproof panels that can withstand bullets from a military assault rifle.

8. Andy Jassy (Amazon): $975,123

According to a public filing Amazon is required to make with the U.S. Securities and Exchange Commission (SEC), the company has set aside an annual budget of $975,123 USD for the security of Andy Jassy as CEO under the designation “Other Remuneration”, justifying this by the costs of ensuring the security of company facilities and during work trips.

That budget has grown significantly in recent years, from $35,000 in 2020, when Jassy began taking over from Bezos at the helm of the company. In 2021, when Jeff Bezos stepped down as Amazon CEO and Andrew Jassy took over, his security bonus soared to $592,649.

9. Pat Gelsinger (Intel): $227,200

Processor maker Intel has set a budget for 2023 US$227,200 for the transportation of vehicles and a trained driver for the safety of its CEO. The budget is an increase from 2022, which was allocated $147,600.

As Intel stated in a public filing with the Securities and Exchange Commission (SEC), the company considers the funds necessary, stating: “Our board of directors has decided to provide for the personal security of Mr. Gelsinger. We do not consider these additional security measures to be a personal benefit to our executives, but rather an appropriate expense to Intel that is consistent with the duties of our executives and necessary to enable them to do their jobs.”

In addition, the company allocated an additional budget of $1,500 to protect the permanent residence of the CEO of Intel.

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Image | Flikr (Government of India), Nvidia