On May 2, according to a report by Business Insider, Tesla’s security costs for its CEO Elon Musk will increase significantly in 2025. According to Tesla's latest 10-K filing with the U.S. Securities and Exchange Commission, Tesla will pay Musk about $4.8 million in security expenses in 2025, an increase of 71% from the $2.8 million in the previous year as companies continue to worry about security threats to high-profile executives.
Figure 1: Bodyguards around Musk
As of February this year, Tesla's security expenditure on Musk has more than doubled from US$500,000 in the same period last year to US$1.3 million.
Figure 2: Musk said he needs to strengthen security
That’s not all of Musk’s security costs. Musk's other companies, including SpaceX and xAI, will also bear some of the security costs to deal with the risks associated with Musk's high profile.
Last September, "retail shareholder advocate" Alexandra Merz posted on X that Tesla needed to "significantly" increase spending on Musk's security. Musk responded that he "really needs to beef up security."
The New York Times reported in 2024 that Musk would be accompanied by up to 20 bodyguards and a medical professional when traveling.
As of press time, Tesla has not commented on this.