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DraftKings CEO Security Cost Reached Nearly $650K in 2021

DraftKings CEO Security Cost Reached Nearly $650K in 2021 article feature image
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Photo by Angela Rowlings/MediaNews Group/Boston Herald via Getty Images. Pictured: Jason Robins

In a filing to the Securities and Exchange Commission late last month, DraftKings revealed that the company spent $642,950 on the security of CEO Jason Robins in 2021.

The number, on its surface, seems high, especially given Apple’s disclosure that it spent $630,630 on its CEO Tim Cook.

Apple is more than 100 times bigger than DK. Cook is worth at least two times more than Robins.

So is the number appropriate? We spoke to an executive who works in the high-end security business, who told us that Robins’ number isn’t far off.

“There’s no doubt that a guy like Jason needs security,” the source who spoke on the condition of anonymity said. “He’s in an industry where you can see people coming after him.”

DraftKings, for security reasons, would not detail what it exactly pays for for Robins, but we’re told 24/7 physical security costs about $1,500 a day per person. That’s already $550,000.

Adding additional security in some situations on the road then easily gets to the number DraftKings disclosed.

As for Cook’s low number in comparison? Our industry executive said he doesn’t believe that’s the total cost of what it takes to protect Cook.

“There have likely been some one-time charges of security costs that aren’t seen on a year to year basis. Plus you never know how much the individual is contributing to the budget.”

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