How much does it cost to protect executives?

High profile executives and celebrities spend a lot on their personal security whether it is safeguarding their assets at home or protecting their personal data in a private server or their personal self. However, personal security is often overlooked. For instance, a technology tycoon such as Bill Gates learned the value of personal protection when he was hit by a pie on the face a few years ago. Luckily it was just a pie but could have been worse. People at the top management, famous stars or important government officials need better security from the likes of a top personal security agency than their security alarm system at home.

Being a top exec or a famous personality brings you to the radar of the news. Paparazzi alone is troublesome to deal with. They would go to any lengths just to get a scoop at some sizzling news. It is quite common for celebrities to find one around their house and sometimes even to drop off the porch to take pictures. This is why people like Mark Zuckerberg pay six or seven figures to fend off such stalker attacks or paparazzi. The personal security for an executive would include with full proof home security systems, a round the day security detail, bulletproof cars and even a personal bodyguard.

It would cost you up to $1000 to have a trained team of bodyguards with you for a day whether you have to go to meetings around the town or dinner at night. Just like any product or service, you can get more expensive bodyguard services as well. Your home security right from the security cameras and guards would cost you at around half a million USD. Celebrities such as Angelina Jolie and Brad Pitt spend over 2 million dollars a year on their personal security. And say you have someone following you everywhere you go? It would cost you extra to keep a surveillance on it which is needed as a proof to get a restraining order.

Although this cost is certainly high, but as they say, you can’t put a price on your life’. Security firms and companies provide such security solutions for many CEOs. A few years ago, Larry Ellison, CEO for Oracle corporation paid over 1.5 million USD to secure his private residence. Amazon’s CEO Jeff Bezos pays over 1.6 million USD for his security. The concept of personal security has grown on many such CEOs and execs who would justify their need for personal security from the company in exchange for a lower salary.

The personal security budget for any CEO would also depend on their fear of safety or nature of paranoia. While personalities like Social media genius Mark Zuckerberg spend over 4.2 million dollars last year for his security, the increasing personal security in now becoming a trend and luxury for the wealthy and high profile executives. For people who are more private like Mark Zuckerberg, personal security should make sense. However, the nature of its budget is an entirely different problem that depends on your judgment and need for personal safety.