How The Ultra-Wealthy Are Protecting Themselves Against Arson Attacks, Kidnapping And Worse

Forbes

As resentment of the rich and powerful surges, billionaires and CEOs are using everything from secret trackers to full security squads to protect themselves and their families.  Read the full story on Forbes: https://www.forbes.com/sites/monicahunter-hart/2025/05/09/how-the-ultra-wealthy-are-protecting-themselves-against-arson-attacks-kidnapping-and-worse/  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Transcript

00:00Today on Forbes, how the ultra-wealthy are protecting themselves against arson attacks,

00:06kidnapping, and worse. Billionaires are more concerned than ever about the safety of themselves

00:12and their families. Tensions spiked after the fatal shooting of United Healthcare CEO Brian

00:18Thompson in December. Then came the January kidnapping of French cryptocurrency founder

00:23David Balland, who was held for ransom for two days while assailants mutilated his hand,

00:29followed by an April arson attack on the home of billionaire Steve Sarowitz by a suspect who

00:34also made ransom and kidnapping threats, according to prosecutors. These assaults have come as

00:40resentment toward the rich and powerful, increases amid wealth inequality, overseas wars, and

00:46hyper-polarized politics. A recent Emerson survey, for instance, reported that 41% of voters aged 18

00:54to 29 believe Luigi Mangione's alleged murder of Thompson was, quote, acceptable. Mangione has

01:01pleaded not guilty. Risk management company Nisos found that online threats against CEOs increased

01:0841% as well in the six weeks following the shooting. All of this has led the nation's wealthiest people

01:15and the companies that employ them to seek out personal security at increased rates over the

01:20past few months, 13 firms tell Forbes. Five companies said the number of inquiries for their

01:26services was among the highest ever, while four said it was the highest. Allied Universal, the biggest

01:32provider of private security guards in the world, says it's getting 1,500% more threat assessment requests

01:38than this time last year. James Hamilton, a consultant at Gavin DeBecker and founder of Hamilton Security

01:45Group, says, quote, a lot of companies are nervous right now. The firms that are newly investing in

01:52protection for their executives are at a disadvantage, he explains, because there aren't enough credible

01:57security outfits to cover everyone, and many are already tied up with long-term clients. He says,

02:03quote, if you say to me, hey, we just want to hire a guy for the next 90 days until things die down,

02:09well, I don't want to do that as a business owner. The shortage has also caused a spike in people

02:16pretending to be security experts online. The industry is regulated at the state level.

02:22Some jurisdictions have rigorous licensing requirements, while others do not. The lack

02:26of national standards means many prospective clients have trouble distinguishing between specialists

02:31and scammers. Chris Falkenberg, founder of Insight Risk Management, says, quote, it's really,

02:39really easy to impersonate an executive protection person. There's a low barrier to entry. It requires

02:44you to get a state license, but that's just a few days for the training. To get a firearms permit,

02:50also quite easy. Then, you know, you go buy a pair of sunglasses, and for all intents and purposes,

02:55you look like an EP person. Hiring a somewhat reputable bodyguard on the cheap

03:01might cost as little as $120,000 per year, but that's rarely what experts recommend to mitigate

03:07risk. In fact, most U.S. billionaires don't have a full-time bodyguard. Among the more common services,

03:15a team that monitors the internet for threats and leaked personal information, the typical cost for

03:20that at the most elite firms is $200,000 to $300,000 per year for sophisticated 24-7 coverage.

03:27Another common service is personal drivers who also have security training.

03:31Cost is $250,000 to $500,000 for two drivers. Then there's residential security, including cameras

03:39and armed guards, costing $750,000 to over $1 million. And of course, there's protection while

03:46traveling. Costs vary based on location. A full executive protection team, which tends to involve

03:54all of the above, plus part-time bodyguards who have medical training and professionals who secure

03:59sites before a billionaire arrives, costs at least $2 million, and frequently much more,

04:06with team members often making $200,000 each. This according to the experts polled by Forbes.

04:13These costs are sometimes covered by companies as part of executives' compensation packages.

04:18The U.S. tax code allows employees to write off that benefit as long as there is a demonstrable

04:23cause for safety concerns. Last year, Snap paid $2.8 million for CEO and co-founder Evan Spiegel's

04:30personal security. Alphabet paid $8.3 million for CEO Sundar Pichai. And Meta paid $24.4 million

04:40to protect Mark Zuckerberg and his family. For full coverage, check out Monica Hunter Hart's piece

04:47on Forbes.com. This is Kieran Meadows from Forbes. Thanks for tuning in.

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