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Increase in violent incidents targeting influential figures
Mark Zuckerberg, CEO of Meta, exits a U.S. federal courthouse in April last year. [AFP PHOTO/Getty Images]
The number of U.S. companies providing security services to their top executives has significantly increased in recent years, the Financial Times (FT) reported on the 22nd (local time).
Citing analysis from research firm ISS Corporate, the FT reported that the percentage of U.S. companies listed on the S&P 500 that offer executive protection benefits has nearly doubled, rising from 12% in 2020 to 22.5% in 2024.
Among them, Walmart, the largest retailer in the U.S., disclosed in its proxy statement last year that it spent $76,779 (approximately 110 million Korean won) to hire an external security firm for the personal safety of CEO Doug McMillon. This marks the first time Walmart has disclosed its CEO's security expenses.
Meta Platforms (Meta), the operator of Facebook and Instagram, spent $10.4 million (approximately 15.2 billion Korean won) on security for its founder and CEO, Mark Zuckerberg, for the fiscal year 2024, and provided an additional $14 million (approximately 20.5 billion Korean won) for the safety of Zuckerberg and his family.
Mark Zuckerberg and his wife. [AP PHOTO/Yonhap]
Amazon, the world's largest e-commerce company, also spent $1.1 million (approximately 1.6 billion Korean won) on security for CEO Andy Jassy in the same year. Additionally, it incurred $1.6 million (approximately 2.3 billion Korean won) for the personal safety of its founder, Chairman Jeff Bezos, the FT reported.
Pharmaceutical and consumer goods company Johnson & Johnson, and AI chip company Broadcom, are among those that revealed they introduced executive protection programs for their CEOs for the first time last year.
Johnson & Johnson has arranged for the CEO to use company security vehicles and deploy armed security drivers when traveling for both public and private reasons.
There has been an increase in violent incidents targeting prominent figures in the United States recently, the FT reported.
In December 2024, Brian Thompson, CEO of health insurer UnitedHealthcare, was shot and killed in Midtown Manhattan, New York, by a man in his 20s who was reportedly dissatisfied with the insurance industry's exploitative practices. The incident sent shockwaves through American society.
UnitedHealthcare Group reportedly spent $1.7 million (approximately 2.5 billion Korean won) solely on executive protection in 2024, but this failed to prevent the attack.
Wanted photo of the suspect in the murder of Brian Thompson, CEO of UnitedHealthcare. [New York Police Department]
Jeremy Baumann, president of Corporate Security Advisors, a corporate security consulting firm, analyzed in an interview with the FT that companies have significantly increased their comprehensive reviews of security protocols following the UnitedHealthcare incident.
"Compared to the past, there has been a substantial increase in individuals publicly threatening CEOs via social media," he explained. "The tendency to express grievances without reservation and to further translate that animosity into real action is stronger than ever."
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