Mark Zuckerberg’s Security Costs Rise to 10 Million Dollars

Last year, Facebook spent 7.33 million dollars on the security of Mark Zuckerberg, at home and while traveling around the world, and last week announced that it would spend 10 million dollars for the private security of its CEO, which will be the largest amount in history for the security of a CEO of a Fortune 100 company, according to Daily Mail.

Already, the costs of protecting the young billionaire far exceed the amounts that other companies spend on their CEOs – protecting billionaire Warren Buffett costs a comparatively modest 375,000 dollars – although for Facebook, this multi-million dollar amount for the protection of its chief does not make much of a difference, writes Bloomberg.

CEO security involves securing various properties where they reside, security during travel, cyber-security, and if the person is married and has children, the costs increase significantly, explains Roderick Jones from Concentric Advisors, risk consultants.

However, there are also CEOs who avoid public appearances, do not give interviews, and make donations anonymously, making it much easier for them to blend into the public.

>>>Zuckerberg’s Wealth Reduced by 6 Billion Dollars in One Day

On the other hand, Zuckerberg is the founder and head of one of the most valuable companies in the world, regularly sharing photos and videos of himself playing with his daughters, meeting with world leaders, and has assets worth 68 billion dollars.

His company believes that the security program for Zuckerberg is “appropriate and necessary” considering his “position and importance” to the company, especially since he receives no other compensation besides a salary of one dollar.

The homes of wealthy individuals are usually surrounded by walls, fences, and other barriers, equipped with cameras and motion detectors, the space between the outer fences and the houses usually contains an additional layer of security, while inside the house there are typically ballistic windows, cameras, security rooms, walls, and locks, as well as simple things like strong hinges to prevent door break-ins.

>>>Oxfam: A New Billionaire Every Other Day

Bodyguards in black suits with sunglasses and earpieces can cost up to a million dollars. At one job that lasts 24 hours a day and 7 days a week, four workers are employed, paid in six-figure sums, in dollars, of course, and such a worker is never alone, meaning that one CEO has a security staff of about ten people. When family members are added – the CEO’s family, of course – the number of people and the amount of money further increases.

CEOs are most vulnerable while traveling, with security being particularly cautious about the dangers of kidnapping or terrorist attacks. Security usually goes on-site in advance to scout it out, familiarize themselves with evacuation routes, and meet with local security professionals and government services. Part of the security in such cases may also include the rental of armored vehicles.

Just for air travel, Facebook spent 1.5 million dollars last year, as reported by Guardian.

Importance is also placed on the protection of the protected person’s devices, such as mobile phones, tablets, and computers, as well as smart devices like toilets or refrigerators.

>>>Last Year’s Billionaire Earnings Seven Times Greater Than the Amount Needed to Eradicate Poverty

However, the differences among CEOs are truly enormous – the protection of Zuckerberg currently costs the aforementioned 7.3 million dollars and is going up to 10 million, which means that his security will cost 27,000 dollars a day, as calculated by Business Insider. The protection of his Facebook colleague, Sheryl Sandberg, costs 2.6 million dollars, and the aforementioned Buffett, therefore, around a tenth of that amount. The protection of Lloyd Blankfein, CEO of Goldman Sachs, costs exactly 63,056 dollars, Sheldon Adelson from Las Vegas Sands, the company that owns casinos and hotels, costs 3.9 million dollars, Jeff Bezos from Amazon 1.6 million, and Darren Woods, CEO of oil giant Exxon Mobil, 107,763 dollars.