The world’s biggest tech companies are shelling out millions of dollars every year to protect their CEOs, but some pay more than others, and for good reason.
Among the generous perks afforded to top executives, security costs can be among the most expensive, especially when it comes to high-level business leaders. These security costs include everything from home monitoring to personal bodyguards and security consulting, which can add up to a hefty cost for companies, depending on the executive.
Bill Herzog, CEO of Arizona-based LionHeart Security Services, told Fortune that it is important for companies to invest in protecting their CEOs, especially if they are among the richest people in the world, as Mark Zuckerbergyes Metae Elon Muskyes Tesla. Herzog, whose company has provided security for politicians and other prominent individuals, said these types of high-profile CEOs could be especially targeted. And if something were to happen to them, the company could be the one to suffer the financial and reputational hit, he added.
“When it comes to someone who is worth millions or billions of dollars and is in charge of an entire company, there is a real possibility of kidnapping, there is a real possibility of extortion, there is a real possibility of attempts on their lives,” Herzog said.
For 24-hour security, a service that requires specially trained security experts and specific resources, Herzog said his company would charge $60 an hour or more, a figure that could push the total bill to more than $1 million a year for two bodyguards.
However, some companies pay much more than that to protect their top executives. Here are the tech companies that spend the most on their leaders.
Meta
Meta pays three times more than the next closest tech company on the list to protect its CEO and founder, Mark Zuckerberg. In 2023, the company spent a total of $23.4 million on Zuckerberg’s personal security, including $9.4 million in direct security costs and another $14 million in an annual pre-tax allowance intended to “cover additional costs related to the personal security of Zuckerberg and his family.”
In previous years, Meta has paid even more to protect Zuckerberg, with the bill for his personal security exceeding $24 million and $25 million in 2022 and 2021, respectively, according to a filing with the Securities and Exchange Commission (SEC).
The company paid these high security fees “for the benefit of the company due to the importance of Zuckerberg’s position to Meta,” according to the document. Zuckerberg is especially at risk because of his position, the company argues.
“We believe Zuckerberg’s role places him in a unique position: he is synonymous with Meta, and as a result, negative sentiment toward our company is directly associated with Zuckerberg and often transferred to him,” the company wrote in the SEC filing.
Luckily, Zuckerberg is also a big fan of mixed martial arts.
Alphabet (Google)
The CEO of Alphabetdona do Google, Sundar Pichaitalks a lot about cybersecurity, but his personal safety is also a priority for his company. In 2023, the tech giant shelled out $6.8 million for Pichai’s personal security, according to an SEC filing.
The company also pays for a car and the use of “non-commercial aircraft.”
Tesla
Tesla’s Elon Musk is no stranger to the spotlight, and his personal security bill reflects that. Tesla paid $2.4 million in 2023 to a security firm owned by Musk for security services, plus another $500,000 through February of this year, according to an SEC filing.
The bombastic CEO’s high security costs are apparently very necessary. In July, Musk said in a post on X that two different people had tried to kill him in the past eight months.
“They were arrested at gunpoint about a 20 minute drive from Tesla HQ in Texas,” Musk wrote.
After the failed assassination attempt on Donald Trump In July, Musk considered taking his security into his own hands.
“Maybe it’s time to build that flying metal armor (sic),” Musk said in a post at the time.
Nvidia
For one of the top CEOs of the moment, Nvidia spends comparatively less than its tech peers on CEO security Jensen Huang. In its 2024 fiscal year, the company spent about $2.2 million on home security and consulting fees for Huang, plus hundreds of thousands more on security monitoring services and car and driver services, according to an SEC filing.
Although Huang once said that Jackie Chan would be best suited to play him in a movie, Huang definitely does not have Chan’s martial arts skills.
Apple
Although Tim Cook is not as famous as its predecessor, the iconic Steve Jobshe is still the most successful CEO in Appleand the company wants him for many more years.
Apple paid $820,309 for Tim Cook’s security-related expenses in 2023, which, while not a pittance, was still less than the $1.6 million paid for the use of his private jet.
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