What’s the story
Leading tech giants like Apple, Google, Meta, Tesla, and others are spending huge amounts on security and private transportation for their top executives.
These costs are included in the overall compensation packages given to these high-profile leaders.
The expenses have been revealed in filings with the US Securities and Exchange Commission (SEC).
Tesla’s agreement with Musk-owned company for Musk’s protection
Tesla signed a service agreement with a security company owned by its CEO, Elon Musk, in December 2023.
The company agreed to provide him with security services in connection with his work and duties for Tesla.
The services cost about $2.4 million in 2023 and roughly $500,000 through February 2024.
Apple’s security and travel expenses for Tim Cook
Apple spent $820,309 on personal security services for its CEO, Tim Cook, in 2023. His personal air travel cost $1,621,468.
These expenses were included in Cook’s “All Other Compensation,” which was $2,526,112 in 2023.
The company’s board requires Cook to travel on private aircraft for all his business and personal trips.
Google’s and Meta’s spending
According to the SEC filing, Alphabet and Google CEO Sundar Pichai‘s personal security cost the tech giant $6,775,631 in 2023.
This amount was included in his “All Other Compensation,” which totaled $6,802,824 for the year.
Meta CEO Mark Zuckerberg‘s personal security at his residences and during travel cost $9,431,139 in 2023. His private aircraft usage amounted to $968,828.
These expenses were part of his “All Other Compensation,” which totaled $24,399,967 for the year.
Microsoft and Oracle’s expenditure for CEOs
Microsoft spent $58,291 on CEO Satya Nadella‘s security, during his personal travels in fiscal year 2024.
The expense was included in Nadella’s “all other compensation” package which amounted to $169,791 for the same period.
Oracle spent $200,086 on non-business travel for CEO, Safra Catz, on the company’s private aircraft. This was included in Catz’s “all other compensation” package which totaled $221,974.
The software company also incurred security-related costs and expenses of nearly $3 million for CTO Larry Ellison’s primary residence.
NVIDIA’s spending for its CEO
NVIDIA spent more than $2.2 million on residential security and consultation fees for its CEO, Jensen Huang, in fiscal year 2024.
An additional $234,134 was spent on security monitoring services and car and driver services.
These expenses were included in Huang’s “All Other Compensation,” which amounted to $2,494,973 for the same period.
Amazon’s security costs for Andy Jassy
According to the SEC filing, Amazon spent $986,164 on security arrangements and business travel for its CEO Andy Jassy in 2023.
The expenditure was included in Jassy’s “All Other Compensation,” which amounted to $992,764 in the same year.
Amazon defended the costs as “reasonable and necessary and for the Company’s benefit.”
Salesforce’s security arrangements for Marc Benioff
Salesforce also provided security arrangements for its CEO, Marc Benioff, which cost $3,052,683 in fiscal year 2024.
The company also paid for his work-related travel on private aircraft mainly between his permanent residence and the Company’s headquarters in San Francisco, California.
These expenses were included in Benioff’s “All Other Compensation,” which totaled $4,651,350 during the same period.
