Wall Street firms spend heavily on executive salaries and compensation, and many CEOs also receive costly security benefits to ensure their safety. Here’s a look at some of the most expensive security deals made by major firms.
JPMorgan Chase CEO Jamie Dimon received $523,271 in security expenses last year, including $362,226 for personal use of the company plane and $150,645 for residential travel and related security costs. This is on top of his total compensation package of $36 million.
BlackRock CEO Larry Fink’s security expenses reached $780,350, with $216,837 allocated to personnel and $563,513 spent upgrading his home security system. The added measures were recommended by an independent study and supported by the board of directors.
Goldman Sachs CEO David Solomon received a total of $107,221 in security costs, including $77,231 for personal car use and $29,990 for “personal security”. He will use the investment bank’s corporate aircraft for personal travel due to security reasons.
Blackstone CEO Stephen Schwarzman spent $4.58 million on security services last year, with no indication that he personally benefited from the costs. The firm cited its own benefit as the reason for the expense.
Wells Fargo CEO Charles Scharf received a recommendation from an independent security consultant to avoid commercial transport or aircraft due to security concerns.
Source: https://finance.yahoo.com/news/berkshire-hathaway-blackstone-heres-wall-190600873.html