"Receiving 3 Billion Annually"... The Company Protecting the CEO's Life [New Jobs]

Elon Musk Spending 3.1 Billion Won Annually on Personal Security
As Wealth and Fame Grow, Personal Threats Increase
Big Tech Haven US Also Has Massive Security Industry

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Elon Musk, CEO of Tesla, reportedly spends about 3.1 billion KRW annually on personal security. Twenty trained professional bodyguards surround him daily, operating like a mini "Secret Service."

The more central a political figure or the greater the wealth one holds, the higher the risks they face. This is why top global conglomerates and businesspeople spend astronomical amounts on security costs every year. There are also experts who provide "security services" resembling intelligence operations for these important individuals.

Life at Risk with Wealth and Fame... Bodyguards Even Hired by Musk

Elon Musk, Tesla CEO, moving with a bodyguard last year [Image source=EPA Yonhap News]

On the 13th (local time), the US daily newspaper The New York Times (NYT) reported after analyzing public data from Tesla and SpaceX that Musk’s annual personal security expenses were revealed.

Musk entrusts his personal security to a famous private security company called "Gavin de Becker & Associates (GDBA)." GDBA deploys about 20 to 40 professional bodyguards around Musk daily, following him wherever he goes. The amount GDBA received for protecting Musk CEO reaches 2.4 million USD annually. Just in January and February of this year, an additional 500,000 USD was spent.

In the past, Musk showed a casual side, going alone to get his car keys or greeting fans without reservation. However, as his wealth and fame accumulated, he now focuses on personal protection. In 2022, after providing the "Starlink" low-earth orbit satellite communication service to the Ukrainian military, he was indirectly threatened by Russian officials. Afterwards, he wrote on X, "If I die under suspicious circumstances, it was a pleasure knowing you."

America, a Heaven for Star CEOs, Also Has a Massive VIP Security Industry

Mark Zuckerberg, CEO of Meta, during his visit to Korea earlier this year [Image source=Yonhap News]

Including former US President Donald Trump, who faced a second assassination attempt sparking controversy, prominent American politicians receive protection services from the Secret Service. These personal security services are usually provided by federal government authorities, but private security services modeled after their organizational structure and expertise also exist. Private security companies like GDBA offer "mini Secret Service" services for conglomerate families, corporate CEOs, and celebrities.

Because they must protect famous individuals, the personnel these companies hire are said to possess top-level skills in the industry. In fact, many GDBA security personnel have real combat experience from the US military, and they also secure contracts from government agencies such as the CIA and FBI. Moreover, as teams operating across the US where firearms are legalized, the job risks are extremely high.

In return, the compensation these security teams receive is enormous. Especially since the US is home to the world's largest big tech companies, there is a significant amount of work for VIP security firms.

For example, Apple CEO Tim Cook spent 820,000 USD on security last year, Amazon founder Jeff Bezos spent 1.6 million USD, and Meta founder Mark Zuckerberg allocated a staggering 23.4 million USD annually for personal security.