CEO protection takes center stage

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

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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.

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

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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.

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