The SGD$20 Million is Money Well Spent on the US-North Korea Summit

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By now, we should know that protecting world leaders doesn’t come cheap: the G7 Summit in Canada last week (the meeting President Donald Trump attended before making his way to Singapore) allegedly cost about SGD$622 million, with about SGD$407 million spent on security for the world leaders.

Unlike the summit in Singapore, the summit in Canada has leaders from seven countries, namely from Canada, the United States, France, Germany, the U.K., Italy and Japan.

Despite the price tag, that is imperative since we live in a world full of threats.

Laymen like us might not understand this, but the fact is that high-profile people usually have security details to ensure their safety, even if it’s not a politician.

Take, for example, Mark Zuckerberg: according to a CNBC report, Facebook spent almost SGD$9.5 million to protect him in 2017. In the same report, it’s mentioned that Amazon’s CEO Jeff Bezos had a SGD$2.08 million price tag for his security in 2016, and even Apple’s CEO Tim Cook has spent (or to be specific, Apple spent that amount) SGD$291K for his security in a year.

Simply put, these CEO’s daily protection cost could well be more than how much we earn per year.

But putting that aside, now you should understand why security is necessary, although the only security we have is just the security guards in our office whom we lepak with during lunch break.

Cost of Trump-Kim Summit: About SGD$20 million

So it doesn’t come as a surprise that the cost of the Trump-Kim summit is at SGD$20 million, which makes you wonder why people are talking about the bills of the hotel stay when the cost to organize it is way higher.

Almost half of it goes to security, which is understandable. Just look at this.

But of course, there are more intangible costs involved: the inconveniences caused by the road closures and the heightened security measures. Is it money well spent? I would say a resounding yes, although we might not see the immediate effects. Here are why.

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