A large number of dollars are spent by large companies on executive protection

Security has been at the forefront these days after the shooting death of UnitedHealthcare CEO Brian Thompson.

Some of the US companies with the largest market capitalizations allocate large sums of personal security and other measures to help keep their executives safe.

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The iPhone maker said in its proxy statement that it is “providing[s] risk-based, business-related, and personal security services for our employees, including our named officers, as determined appropriate by our security team.”

For longtime CEO Tim Cook, personal security services accounted for $820,300 for Apple last year.

The company is having him fly on the private jet, which cost more than $1.6 million by 2023, “in the interests of safety and efficiency based on our global profile and the highly visible nature” of Cook’s work, according to the filing.

CEO Jensen Huang acquires more than 2.4 million security solutions from Nvidia.

The only “residency security and consulting fees” that Nvidia gave him for the 2024 fiscal year cost the chipmaker $2.2 million.

Nvidia “believe[s] these arrangements and costs are reasonable, appropriate, necessary and beneficial to Nvidia and its shareholders, as they do to Mr. Huang was able to focus on his duties at the Company while mitigating security threats and, therefore, mitigating risks to our business.”

The company’s market capitalization reached $3.42 trillion as of Monday.

According to the SEC filing, Microsoft sees security CEO Satya Nadella’s acquisition as “an important part of our risk management program” and “a necessary and reasonable business expense.”

The company paid about $58,300 to secure Nadella through the 2024 financial year.

“We believe that the personal safety and security of our senior executives is of the utmost importance to Microsoft and its shareholders,” the company said in the filing.

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Amazon CEO Andy Jassy has run Amazon since 2021. Last year, his security was estimated at $ 986,200, according to a statement from a representative of the e-commerce giant.

The company also saw the cost of protecting three other people – Executive Chairman Jeff Bezos, Worldwide Amazon Stores CEO Doug Herrington and Amazon Web Services CEO Adam Selipsky.

“We believe that all security costs incurred by the Company are reasonable and necessary and in the best interests of the Company,” Amazon said.

The company was founded in 1994 by Bezos.

Alphabet, Google’s parent company, disclosed in its proxy statement that it covered CEO Sundar Pichai’s personal security last year at a cost of nearly $6.8 million.

Photos has led Google for almost a decade. He also sits on the board of directors.

Mark Zuckerberg, CEO of the parent company of Facebook, Instagram, Whatsapp and Threads, gets a “complete security plan” as part of his job. Some high-ranking leaders at the company are receiving protective measures, according to their representative statement.

Meta said it “needs” Zuckerberg’s security “because of Mr. Zuckerberg’s importance to Meta” and believes “the scope and cost of this security program is appropriate and necessary.”

Meta said it is providing money for Zuckerberg’s security “at his residences and during personal travel, including the annual cost of security personnel to protect and accommodate him, and the maintenance of certain security measures at his residence.” Spending on his family’s security and private jet as well.

In 2023, the company reported about $24.4 million in Zuckerberg’s security costs. The annual amount may change “depending on the necessary safety measures, his travel schedule, and other factors,” according to the company.

Zuckerberg earns a salary of $1. His net worth stands at $211.5 billion.

Tesla paid $2.4 million for CEO Elon Musk’s security services last year, the electric car maker disclosed in its proxy statement.

It noted that it has entered into an agreement with a security company “owned by Elon Musk and plans to provide security services for him” by the end of 2023.

In addition to Tesla, Musk also leads SpaceX and xAI. He will run the Department of Public Works under the incoming Trump administration along with Vivek Ramaswamy.

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Warren Buffett gets personal and home security as part of his decades-long tenure as CEO of Berkshire Hathaway.

“Berkshire’s Board of Directors believes that because of Mr. Buffett’s significant role as Berkshire’s CEO and because Mr. Buffett spends so much time at home on Berkshire’s business matters that such expenses represent business expenses,” the company said. in its proxy statement.

The company spent about $313,600 on security for the “Oracle of Omaha” last year.