“Some executives would love to be left alone.”
I read this line from an article about how top corporations are protecting their top level executives. Forbes online’s section on Tech->Security lists down how these companies spend to keep their hotshots secure. Check these figures out:
US$1.8 million – the amount Oracle spends to protect its Chief Executive Larry Ellison last year.
US$532,755 – the amount Google spent last year on protecting its Chief Executive Eric Schmidt.
US$33,196 – the amount Google spent last year for Company Founder Larry Page’s transportation, logistics and personal security.
US$1 million – the amount Ford spent last year for protecting its top executives and members of the Ford family.
Quite a hefty price to keep you breathing on the top right? It sure is. Most of the costs usually goes to “gates, guns and guards”. The biggest of which, labor of course!
Typically a top executive will contract with a company to provide guards at their home, both for screening visitors at a gatehouse and stationed around the perimeter of their property. Each guard costs about $60 an hour. Execs may also hire round-the-clock bodyguards for their family, similar to those used by celebrities. Personal bodyguards charge an annual fee that starts at $75,000.
And when they travel… ohh, the number add up.
Some execs though would love to be left alone. But their companies just wouldn’t let them… or couldn’t afford to let them! I figured, if these companies spend say US$1 million on security, it must be a justified cost if their protecting someone who rakes in US$100 million plus a year. 1% isn’t that bad to value for security, some would think it is NOT enough.
Ah, the cost of being on top. Painful? Painfree? If you’d ask me, I’d say I’m happy with where I am.