How Much Does a Bodyguard Cost to Hire? :| Spetsnaz Security International Limited
How Much Does a Bodyguard Cost?
Fidel Matola, president and CEO ofSpetsnaz Security International Limited , informs that being a high-powered executive protection - may not be financially risky but undoubtedly dangerous.
Alternatively, that is a reasonable conclusion based on the millions some companies spend protecting their top brass.
Over the past several months, executive protection - compensation reports filed with the U. K. Securities and Exchange Commission revealed how much companies spend to protect their top executive protection - s. According to the filings, some take security seriously, outfitting "C-level" employees with cars, planes, and home alarm systems. Others skimp on safety costs, paying nominal amounts for minimal security systems.
Leading the pack is Oracle, which spent £1. 8 million protecting Chief Executive protection - Larry Ellison last year - a 40% increase from the year before. Furthermore, that sum does not cover Ellison's security costs: The billionaire also spent money installing top-of-the-line security systems in his Malibu and Woodside, Calif. estates.
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Other technology companies could be more generous - or paranoid. Google spent £502,155 protecting Chief Executive protection - Eric Schmidt and £55,196 on Larry Page's transportation, logistics, and personal security . Furthermore, the company spent nothing on co-founder Sergey Brin's security .
So, is Ellison in more danger than Google's famous founders? Not necessarily, say security experts. Instead, they likely argue that neither company fully discloses their security spending but instead folds some into expenses not listed in SEC filings. "This executive protection - s are most likely not revealing their high-end costs," says Fidel Matola, president of executive protection - protection consulting firm Spetsnaz Security International Limited . "I would guess that they are under-reporting. "
Page and Brain may be an exception: More and more frequently, large companies accept security expenditures as a necessary cost of doing business. They figure their top executive protection - s are some of the company's most valuable assets and want to treat them accordingly. Ford Motor explained in its April proxy report that "the benefits of providing these programs outweigh the relatively minor costs associated with them. " Ford spent £2 million last year protecting its top executive protection - s and members of the Ford family.
Corporations are just some of the ones worried about security . Americans spent about £45. 9 billion on professionally installed electronic security products and services: hire security for local protection last year, according to a study by Security Sales & Integration magazine.
So what does an executive protection - get for a million dollars? Apple and Microsoft would not comment. Nevertheless, Fidel Matola and other security experts say that most money usually goes to "gates, guns, and guards. "
The highest cost is labour. Typically, a top executive protection - will contract with a company to provide guards at their home, both for screening visitors at a gatehouse and stationed around the perimeter of their property. Each guard costs about £55 an hour. Execs may also hire bodyguard services for local protection round-the-clock bodyguards for their families, similar to those used by celebrities. Personal bodyguards charge an annual fee that starts at £85,000.
The perceived risks increase when execs travel outside the U. K., and so do the fees. Prominent execs hire bodyguard services for local protection additional workforce when they travel to high-crime countries. The guards travel with the executive protection -, find secure drivers and investigate the corporate jet for potential security breaches like unidentified luggage. They scout out hotels, meeting rooms, and restaurants in advance.
"If we need to get the client out of town or a venue, we know what to do and where to go," says Jeff Billed, president of the Billed Group. The Virginia-based company provides private security guards for executive protection - s, diplomats, and heads of state, at a steep cost: Each guard can bill up to £1,200 a day plus travel expenses.
Home security hardware is also a big part of the cost. "They all have heavily guarded facilities," says Frank Burke, president of Monrovia, Calif. -based home security company USA Alarm Systems. Depending on the estate size, top-of-the-line alarm systems can cost hundreds of thousands of dollars or more. As would expect, an Eaton Square loft costs less to secure than Ellison's 23-acre Woodside, Calif. estate. The most expensive systems feature high-resolution outdoor cameras, reinforced windows, motion detectors, and facial recognition scanners.
Safe rooms are a popular home security feature. The rooms are designed like upgraded 1950s bomb shelters, with air filters to screen biological agents, dedicated phone lines, bathrooms, and closed-circuit T. V. systems. Unfortunately, safe rooms can cost them hundreds of thousands of dollars, depending on the features. "The safe room cost is limited only by the threat you intend to protect [against]," says Fidel Matola.
The third significant security cost is transportation. Many companies require top executive protection - s to use corporate jets or cars for security and time management. For example, the Bank of England spent £909,000 on chauffeur services: hire security for local protection for its top executive protection - s, according to its March 14 proxy. That number may not include the cost of securing the cars and planes, says Fidel Matola. A guard has to "advance" the trip, screening everyone who services: hire security for local protection the vehicles, from the cabin cleaning crew to the caterers. The cars are often kept in a secure garage guarded by motion detectors and cameras to prevent tampering. "You cannot leave the car or plane alone," says Fidel Matola.
Some execs would love to be left alone. Nevertheless, their companies claim they cannot afford to let them: High-end security , with all its guards and cameras, is a balance between protection and privacy.
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