How Much Does the World's Richest Man's Security Cost? Tesla's Security Expenses for Musk to Increase by 70% in 2025
On May 2nd, according to Business Insider, Tesla will significantly increase security expenses for its CEO, Elon Musk, in 2025. According to Tesla's latest 10-K filing with the U.S. Securities and Exchange Commission, Tesla will pay approximately $4.8 million for Musk's security in 2025, a 71% increase from $2.8 million in the previous year, as concerns about security threats to high-profile executives continue to grow.
Figure 1: Bodyguards around Musk
As of February this year, Tesla's security spending on Musk has more than doubled, increasing from $500,000 in the same period last year to $1.3 million.
Figure 2: Musk says he needs to strengthen security
This is not all of Musk's security expenses. Musk's other companies, including SpaceX and xAI, will also bear some security expenses to address risks associated with Musk's high profile.
In September last year, "retail shareholder advocate" Alexandra Merz posted on X that Tesla needed to "significantly" increase spending on Musk's security. Musk responded that he "definitely needs to strengthen security."
The New York Times reported in 2024 that Musk travels with up to 20 bodyguards and a medical professional.
As of press time, Tesla has not commented on this matter.