What do the richest spend on security per year?
The rich and famous may have enviable lifestyles, but fame can come with its own hefty price tag. Their privacy is often compromised as well as them being extra vulnerable due to their fame and fortune. It’s no wonder then that they pay out quite a bit on their annual security.
The results may or may not come as a surprise, but they have the team here at business security systems provider, Expert Security UK wondering – how much should we all be investing in our own security, or our business’s security?
Being President of the United States – for the time being – comes with a high security price tag, for instance, Congress allocated around $120 million to help keep Donald Trump and his family safe. Part of this amount went into protecting the famous Trump Tower with the necessary security equipment as well as relevant personnel. Iron gates and armed security are also needed around the Trump Tower to provide robust security.
While we don’t have details on President-elect Joe Biden’s security budget, we do know that his security detail was suddenly and quickly added to when news began to project his win. It didn’t equate to a Secret Service-style detail, but given the tightness of the race we may see stronger protection in place than his predecessor. Although the White House is unlikely to have multiple fences surrounding its grounds.
For celebrity A-listers, it’s not uncommon to have a surveillance room installed in lavish homes, to keep tabs on the property and outside area 24/7. Many also hire a number of guards to be stationed at the property which can cost up to $3 million a year.
A lot of the security costs for celebrities go towards keeping them protected at home and on their travels with private security guards. Like Kylier Jenner, a very wealthy media personality with her own successful cosmetic brand, who reportedly spends around a whopping $4.8 million a year on security, with personal guards monitoring CCTV, her home and protecting her on her travels.
Then there’s Britney Spears, where it was reported that around $450,000 a year went on bodyguards and other security measures.
Danny Scholfield, MD of Expert Security UK, estimates that “whilst most of the budget for celebrity security is covering personal security guards, high-profile people like these, especially those boasting luxurious car collections, will invest in robust driveway gates that are more stylish and sophisticated than the norm, as well as monitored CCTV systems.”
When it comes to protecting a business, the billionaires have to go the extra mile. Take Jeff Bezos, for instance, who has reportedly had bulletproof panels installed in his Amazon office, costing around $180,000, out of his annual $1.6 million security budget that is.
Then Mark Zuckerberg, where $10 million a year goes on making sure the Facebook CEO is well protected. When a wealthy businessman like him in charge of one of the most dominant social media platforms often goes up before Congress, it’s no wonder a big budget goes towards keeping his business, residences and himself protected.
Luckily for the rest of us, providing security and protection for our businesses will not cost nearly as much, mainly due to us not needing 24/7 personal security guards or say, bulletproof panels and panic rooms.
For those of us who own businesses, have worked hard but aren’t making headlines routinely, we do well to invest in rooted security gates, CCTV and car park management systems. Thankfully though, businesses or properties don’t have to break the bank for their own security, as they can rely on intelligent access control systems to keep unauthorised personnel away from sites whilst also controlling staff’s entries and exits.
Residential and home security
Driveway security has advanced and become so much smarter with driveway gates that can be intricately crafted – adding elegant finishing touches to properties and homes. Style and security all in one, they’re especially protective for residential areas, where luxury car collections are boasted, but also perfect for keeping gardens, homes, vehicles and belongings safer.
From millionaires to billionaires, you’ll find it hard to find one without a huge imposing driveway gate to keep their cars and residences secure.
So, what do we think you should be spending on security?
As the figures above show, the richest do not compromise on their security. Updating your security – whether it be home or commercial – is easily one of the smartest investments you can make, and it’s important you get it right the first time. Don’t worry though, you don’t need to reserve millions.
For large, commercial premises, Danny Scholfield weighs in again, “Physical security systems can vary drastically in cost depending on the desired product and site layout. A basic sliding gate system can be installed for around £12k-15k with complete coverage of CCTV. When linked with modern access control equipment, it is important to factor in the return on investment as most systems will pay for themselves within several years. Forward-thinking businesses should also be budgeting 5% – 10% of their function budget & IT to cybersecurity measures.”
“Or, if you just need to uplevel your own home security, a simple driveway gate can actually work wonders. To take things to the next level, try bollards or even CCTV and intercoms which give you a huge amount of control over who enters and exits your property.”