The ultra-rich have boosted spending on private security, especially after the assassination of the UnitedHealthcare executive
US billionaires have been increasingly ramping up personal and residential security over the past few years, installing bulletproof fittings and panic rooms, Bloomberg has reported.
Private security firms had been in high demand even before the murder of UnitedHealthcare CEO Brian Thompson earlier this month, the outlet said on Monday, but the killing sparked a new wave of spending on security.
Fortified Estate, a firm that installs armored doors, bulletproof-glass windows and other high-tech home fortifications, told the outlet that October, just ahead of the US presidential election, was one of the busiest months on record.
“People just weren’t sure what was going to happen,” Jon Harris, the founder of the company explained. He set up the firm in 2018 and saw surging demand for home security among America’s super-rich during and after Covid-19 pandemic, and in light of the killing of George Floyd and the 2021 storming of the US Capitol.
Wealthy people are spending millions on private security and the installation of bulletproof glass at their homes has “become very common” over the past four years, in particular over the past year and a half, according to Russell Grey, director of Security Services International.
“The political landscape has made people feel quite uneasy,” Grey told the outlet. “They have this perception that there’s an assassin on every street corner, but there’s not.”
The sense of insecurity increased after the assassination of the UnitedHealthcare boss, who was gunned down outside a Hilton hotel in central Manhattan a week ago. Some online users on social media reacted positively to Thompson’s killing, while ‘wanted’ posters appeared across New York encouraging targeting other executives.
A surge in demand among CEOs in the US for fortified rooms at offices and protection hardware at their homes has been seen over the last week, Matthias Fitzthum, founder of Bespoke Home & Yacht Security, told Bloomberg.
Many wealthy families are “doubling or even tripling their security budgets,” he said. Items in demand include thermal security cameras, armored doors, windows and panic rooms, sensors for valuable art work, anti-drone systems, gas detection systems, and other installations. The price tag for advanced security technology starts at $1.5 million, Fitzthum said.
