CEOs Rake in Nearly $600M in Perks

A corporate America where CEOs rake in perks like $20,000 in free booze or six figures in sports tickets is also one where "security" has become the biggest fringe benefit. The Wall Street Journal reviewed disclosures from 1,500 major public companies and tallied nearly $600 million spent on about 15,000 executive and director perks, with personal protection alone accounting for roughly $170 million. Meta spent $22.5 million safeguarding Mark Zuckerberg; other boards cite similar safety concerns as justification for private jets and chauffeured cars.

Beyond security and jets, the perks range from pricey executive health plans and tax help to relocation packages that cover home-sale losses and kids' tuition. Some are more niche: a Texas hunting ranch, $131,000 for a country club membership, and a $35,000 boat allowance. "A lot of these perks are excessive," says Rosanna Weaver, an executive-pay consultant, adding that most executives "already are extraordinarily well paid. ... There's a whiff of entitlement here—CEOs who say 'I deserve this.'" Counters Aalap Shah, an executive-pay adviser, "There's an existential risk to the company if something happens to the CEO or part of the executive team." Get the full scope at the Wall Street Journal.