US companies spending record amounts to protect executives as threats rise

U.S. companies are increasing security spending for executives amid rising threats and recent violent incidents, including shootings in Manhattan. Corporations have doubled their security teams in New York since the death of Blackstone's Wesley LePatner, a victim of what authorities believe was a random act. "It's unspeakable," said former colleague Rich Friedman.

Enhanced security measures are rooted in a significant increase in threats since 2020, propelled by social media and AI. Median spending on executive security reached a record $106,530, up by 16% last year. Nearly 34% of executives now have security protections in place.