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FB also pays $12M a year for Zuckerberg's security details? In comparison, Amazon pays $1.2M for Bezos. So, I was wondering what kind of security could possibly
by hintymad 5y ago
FB also pays $12M a year for Zuckerberg's security details? In comparison, Amazon pays $1.2M for Bezos. So, I was wondering what kind of security could possibly cost $12M. Sounds like a tax-free way of spending on house decoration?
- 93po 5y agoIf you want a few guys for security at any given time, and you want security 24/7, and you need security at multiple locations, then this all adds up really fast. 3 people in three shifts is 9 people needed per day. Given that people aren't going to work 7 days a week, you need extra people for coverage and weekend shifts. Let's be conservative and say 15 total. This is per location. Office, house, second house. That's 45 people. That's $266k per year in cost per person. Given the expenses of the motor pool, motor pool maintenance, travel accommodations and expenses for personal, the admin overhead of managing 45 people, etc etc this sounds fairly reasonable to me. If I was a billionaire I'd be spending at least that much too.
- missedthecue 5y agothe Secret Service has an annual budget of almost $2.5 billion (though they do have some responsibilities aside from protecting POTUS)
- runevault 5y agoI mean, the protect EVERY living president not just the current one.
- MerelyMortal 5y agoThey also protect visiting foreign dignitaries. And they get to use more exciting/expensive tools that would otherwise be illegal for private citizens/companies to use.
- CivBase 5y agoAnd the extent of their protection is not comparable to anything some rich CEO should have. Zuck doesn't need snipers on the roof and armed soldiers hiding in bushes around his house.
- missedthecue 5y agoAnd he doesn't have to transport a 20,000lbs limousine and ~40 other vehicles behind a private jumbo jet wherever Zuckerberg travels.
- MagnumOpus 5y agoUS Presidents don't have to, either. No other elected officials apart from the POTUS do, not even similarly-hated ones like Xi, Bolsonaro or Putin. They spend the money because it's not their money, because they can, and to flex on other leaders who are more budget conscious. Even for Zucks a billion a year on security theater would be a bit rich - because he spends his own money.
- favorited 5y agoWhatever private security firm Zuckerberg uses is going to be closer to mall cops than the Secret Service.
- e-clinton 5y agoPretty naive considering the amount of money FB and Zuck roll in
- GravitasFailure 5y agoHe probably has mostly off duty/retired cops working for him so they can bypass concealed carry permit restrictions and let them all carry firearms in every state under LEOSA. It's also a good way to avoid jurisdictions that are very restrictive with issuing CCWs since they sometimes require bribes as part of the application process[0][1]. [0]https://www.sccgov.org/sites/da/newsroom/newsreleases/Pages/NRA2020/CCW-Undersheriff-Sung-.aspx https://www.sccgov.org/sites/da/newsroom/newsreleases/Pages/... [1]https://sanfrancisco.cbslocal.com/2021/08/17/update-embattled-santa-clara-county-sheriff-laurie-smith-says-she-wont-resign/ https://sanfrancisco.cbslocal.com/2021/08/17/update-embattle...
- fedreserved 5y agoOne if their main duties is to go after counterfeiting of the currency. In fact it's what they were founded to do https://www.secretservice.gov/about/history https://www.secretservice.gov/about/history We are one of America’s oldest federal law enforcement agencies, originally created in 1865 to stamp out rampant counterfeiting in order to stabilize America's young financial system. By the end of the Civil War, nearly one-third of all currency in circulation was counterfeit. As a result, the country’s financial stability was in jeopardy. To address this concern, the Secret Service was established in 1865 as a bureau in the Treasury Department to suppress widespread counterfeiting.
- GravitasFailure 5y agoAnother bit of trivia: Lincoln signed the bill creating the secret service on the day of his assassination, which is why the Treasury is tasked with executive protection.
- snowwrestler 5y agoWell, they were. Secret Service moved from Treasury to DHS after 9/11.
- JohnJamesRambo 5y agoWill you ever address this counterfeiting? https://fred.stlouisfed.org/series/M2SL https://fred.stlouisfed.org/series/M2SL
- snowwrestler 5y agoThe Secret Service is one of the largest federal law enforcement agencies, responsible for investigating most financial and computer crimes. They have thousands of investigators and over 100 field offices in the U.S. (more than the FBI).
- bigiain 5y agoSome people get paid to investigate financial and computer crimes, other people get paid better to commit them... "Hey Sheryl, where are we gonna hide our offensive computer security team's budget?" "Let's put them dozen as 'personal security' for Mark."
- dragonwriter 5y ago> the Secret Service has an annual budget of almost $2.5 billion (though they do have some responsibilities aside from protecting POTUS) In much the same way that the USMC has some functions besides providing West Wing sentries.
- xyzzy21 5y agoNot that high. Unless it's premium plus kick-backs plus slush fund.
- GravitasFailure 5y agoYour estimates are pretty spot on. I'd also add that security companies generally contract at double the hourly rate for officers, and $133,000/yr, $66.50/hr is simply not a mind-boggling number to be paying good quality armed security that need significant vetting and training.
- ip26 5y agoI had always thought military pay was pretty low, but apparently $133,000/yr is around what a First Lieutenant with 10yrs service makes. So perhaps that is quite reasonable for real security. https://myarmybenefits.us.army.mil/Benefit-Library/Federal-Benefits/Basic-Pay?serv=122 https://myarmybenefits.us.army.mil/Benefit-Library/Federal-B...
- wolverine876 5y ago> a First Lieutenant with 10yrs service Are there First Lt's with 10 years of service? I thought it was up or out.
- dragonwriter 5y agoThere has been more flexibility in that recently, as I understand (also, promotions from the ranks could easily do it, but those—at least for more than 4 year enlisted service—have different pay scales at at the O-1 to O-3 or -4, I forget, level)
- deleted 5y ago[deleted]
- bradleyy 5y agoSure. You make E-6, and then go to OCS. Now you're a 1LT with 10 years service. More frequent in National Guard.
- ip26 5y agoUpdate: hang on, despite the reference to bimonthly paychecks in the link, other sources seem to imply the numbers in the table are monthly rates, which would put $133,000 closer to Brigadier General. That would be a very different story!
- kbenson 5y agoIt's much more fun to think one of the richest people in the world is committing tax fraud by getting extra "spotter" security people hired that are less trained and more spread out on the property, and then handed yard/cleaning supplies and told "well, while you're in the area, maybe clean up a bit, okay?"
- JohnJamesRambo 5y agoOk how does Bezos do it 10x cheaper? This is a very Amazon vs. Facebook stat haha.
- bigiain 5y agoTotes his own nines... (Part of his bad boy puffer jacket fashion makeover...)
- 93po 5y agoBezos likely just pays for it directly rather than having Amazon pay for it. There could be a million reasons for that, but in either case it's like not Bezos gives a single fuck about $10 million a year
- lostmsu 5y agoFrugality Accomplish more with less. Constraints breed resourcefulness, self-sufficiency and invention. There are no extra points for growing headcount, budget size, or fixed expense. /s
- hef19898 5y agoDoesn't explain how Bezos gets away 1o times less in company expenses.
- nelsondev 5y agoIn front of Zuckerberg’s house in San Francisco, 24 hours a day, there is a man sitting in a black escalade watching his house. That’s not free. I imagine it’s like that across his numerous properties, as well as more who travel with him at all times.
- blondin 5y agoOP's is a sensible question to ask really. made me wonder what makes his security cost 10x, not why it's needed.
- joebob42 5y agoI guess the point being more that 1.2 million seems really quite low to do it properly, 24/7. Perhaps after all the steroids bezos doesn't need the help.
- koolba 5y agoOr maybe he taught that robot dog to bite: https://cdn.geekwire.com/wp-content/uploads/2018/03/180319-bezos.jpg https://cdn.geekwire.com/wp-content/uploads/2018/03/180319-b...
- baby 5y agoWhat’s the address :P?
- bigiain 5y agoI wonder how many of them spend all day with AR glasses on clicking on things that aren't threats, to train the AI that'll put them out of a job? (I wonder if you could sign up for that job, and poison the training set so Zuck can never get near, say, a fire hydrant or a puppy - without the robots all going to defcon 5?)
- Phrenzy 5y agoDefcon 5 is exactly where they should be if they want to pet a puppy.
- missedthecue 5y agoWhy Mark Zuckerberg’s Personal Security Costs Eclipse the Rest of Silicon Valley https://medium.com/swlh/why-mark-zuckerbergs-personal-security-costs-eclipse-the-rest-of-silicon-valley-f5e4a8427dd9 https://medium.com/swlh/why-mark-zuckerbergs-personal-securi...
- JKCalhoun 5y ago$65K a day. Wow.
- corndoge 5y agoNo sources cited for any of the interesting claims, nor does this article actually answer the question in concrete terms. This is someone who turned their opinion on why his security is so expensive into a full length article. Tldr the author thinks it's because so many people use Facebook, have strong opinions on their policies, and because Zuck as the founder is synonymous with the company.
- dcolkitt 5y agoI’d say it’s more shocking how little they pay. These are founders who’ve created trillion dollar properties. Them being hurt or even hassled would potentially destroy billions in market value. If I was a shareholder, I’d insist on spending POTUS-tier security.
- cascom 5y agoProbably not, taxpayers spend a couple of BILLION a year just for the helicopters
- BurningFrog 5y agoZuck is worth $120B+. Whatever is going on, it's not about him saving tax on $0.012B
- randomdata 5y agoWealth and income are very different concepts, however. The first result on Google says that he earned $25M (total comp.) last year from Facebook. While the original comment states that FB provides the security detail, so it is not a personal liability of his, an amount equal to half of your purported income from said business is still quite significant and not something you would ignore if a tax benefit is present. Especially when you have that kind of money to hire the best tax professionals around to take care of it for you.
- citizenpaul 5y agoHis yacht has two smaller yachts that follow it with security teams on board. Seriously.
- danjac 5y agoI guess the difference between running an online store and running a hate machine. Bezos' main concern (as with any run-of-the-mill billionaire) is kidnapping. On the other hand, if your business model has driven people to literally commit genocide, you're going to experience blowback that warrants some extra protection.
- belter 5y agoYou know he is the CEO of Facebook. He needs some @@##$Privacy... In any case, they overpaid the fine by thousands of times compared to what was required, so there is another shareholders lawsuit coming their way. You cannot be a public company and mismanage the company money like this.