CEO protection takes center stage

TODAY’S STORY

In the wake of the assassination of UnitedHealthcare CEO Brain Thompson, companies are scrambling to beef up their security for executives.

About 20% of S&P 500 companies disclose security services for their CEOs, roughly seven percentage points higher than a decade ago. According to regulatory filings, Moderna spent over $1 million last year on executive protection, and Pfizer spent $800,000 to protect its CEO.

This should become the norm, not the exception, after last week’s tragic incident.

Another area that will see an uptick in spending is home security services. Tech elites are transforming their homes into bunkers, incorporating drones, facial recognition, and high-tech sensors to provide what can be described as military-grade protection.

The cost of making CEOs safe is growing, and the market is rushing to meet that demand.

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Kieran & Justin Ryan